Home Sellers Must Avoid The Emotion Of Selling A Home

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
http://actvra.in/CNl

Summerbrooke Home Sales ReportOver the past year, I had the opportunity to meet with two different homeowners to discuss Summerbrooke house sales.

Their stories were similar and their needs were similar, and each felt that their individual home was worth more than I felt the market would bear.

Now understand that these are highly educated people and they were presented with what I feel is solid market feedback about Summerbrooke house sales and home values. This is just more anecdotal evidence that the emotion of selling a home is often far more powerful than any level of formal education.

Ultimately, one followed my advice (sell fast to get the highest price in a declining market), while the other chose to work with a real estate company who was willing to market the home at a price higher than what buyers are willing to pay.

Both no longer live in Summerbrooke, yet one still owns a home there.

My clients received an offer on their home and closed on it within three months of our first meeting, while the other home still remains un-sold. The sale for our client remains as one of the highest values received in Summerbrooke for more than a year (meaning they did not "give the home away").

Since the first meeting, Summerbrooke house sales have continued to slide, and values have dropped even more. I no longer would be able to sell either home at the values I presented to them in the past.

Smart Idea - Contact Joe Manausa In Tallahassee, FloridaThere are currently 33 homes for sale in Summerbrooke (nearly two years of supply) and we continue to see asking prices drop. If you are thinking about selling a home in Summerbrooke, waiting could be very costly. If you want to analyze your situation and review smart courses of action, simply contact me today and we can schedule a time to discuss your specific needs.

If you are thinking about moving and need to sell a home, take a lesson from these two different homeowners.

One chose the harder, correct path and solved his problem. The other continues to live in denial and hope that the market will change for the better. I find it sad that people allow their homes to own them, when in many cases it just doesn't have to be this way.

Summerbrooke House Sales Prices

The average Summerbrooke house sales price has dropped from $466,000 in 2006 to just $332,000 in 2012. In 2006, $466K would buy you a 2,894 square foot home, whereas today the $322K would buy you a larger home (currently averaging 2,962 square feet).

As you can see from the vertical bars in the real estate graph below, nearly 1/2 of all Summerbrooke house sales this year have been short sales, foreclosures, or bank owned properties.

Summerbrooke Home Sales Prices Century 21 Manausa and Associates 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

Summerbrooke House Sales Values

Summerbrooke house sales have recorded value declines of 30% since the peak of the market, which is just below market average. But when we compare Summerbrooke with it's closest Golf Course Community neighbor, Golden Eagle home values have only declined 24%.

Summerbrooke Home Sales Values Century 21 Manausa and Associates 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

YTD Summerbrooke House Sales

This next graph looks at Summerbrooke house sales each year from January through May. This means that zero seasonal affects are registered in the graph, and a picture is truly worth a thousand words.

YTD Summerbrooke Home Sales

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 06/25/2012 03:50 AM
Topic:
Real Estate Market Trends
Location:
Florida Leon County Tallahassee Summerbrooke
Groups:
Market Reports
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Tags:
sell home tallahassee
home seller tallahassee
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Rainmaker
1,035,095
Gary L. Waters, Broker Owner Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Melbourne, FL
Personal Service, always.

I am constantly reminding buyers and sellers to focus on the transaction and keep the emotions at bay. Its a house - not a baby!

Jun 21, 2012 04:58 AM #1
Rainmaker
895,372
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Joe, good assessment of the Summerbrooke market. Emotions do have a tendency to cloud peoples judgement for getting their property sold.

Jun 21, 2012 05:10 AM #2
Rainmaker
806,755
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Good way to put it Gary, ... it's a house - not a baby! Thanks.

Jun 21, 2012 05:11 AM #3
Rainmaker
806,755
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thank you Michael. Emotion seems to be the starting point most times.

Jun 21, 2012 05:12 AM #4
Rainmaker
621,987
Petra Norris
CDV TransAtlantic, Inc. - Lakeland, FL
Realtor, Lakeland FL Homes for Sale

Joe - Unfortunately EQ trumps IQ on a lot of homeowners and when their mind is still clouded after seeking a professional who understands the market then it's best to cut the ties before its too late.

Jun 21, 2012 06:04 AM #5
Rainmaker
1,374,074
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

You have demonstrated to be the "go to" source for this product...mandatory that people gt good guidance here

Jun 21, 2012 06:25 AM #6
Ambassador
643,624
Doug Rogers
Bayou Properties Realty - Pineville, LA
Your Pineville Louisiana Agent

A worthy feature! Something tells me you may get a second shot at the other listing once it expires.

Jun 21, 2012 06:53 AM #7
Rainmaker
267,837
Carla Freund
Keller Williams Preferred Realty - Cary, NC
Raleigh - Cary Relocation & Luxury Home Specialist

Joe - We all see this. It can be unfortunate. They will probably lose even more when they calculate carrying costs.

Jun 21, 2012 07:15 AM #8
Rainmaker
316,903
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Actual comparable sales data tells the story. Hoping the house will sell above market value is like rooting for your baseball team to overcome a 10 run deficit in the bottom of the ninth with 2 outs and 2 strikes and nobody on base.

Jun 21, 2012 08:58 AM #9
Rainer
276,890
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

I really like how you established your case for home value trends in Summerbrooke.  And your clients will as well. Sometimes we have to deliver painful truths.

Jun 21, 2012 09:02 AM #10
Rainmaker
1,876,759
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO

Joe

Thanks for sharing your insight on the Summerbrooke real estate market in Tallahassee.

The market sets the price not emotions.

Good luck and success.

Lou Ludwig

Jun 21, 2012 09:20 AM #11
Rainmaker
869,461
Paula McDonald
Chevaux Group, PLLC - The Woodlands, TX
CHEVAUX Group ~ The Woodlands, TX 936-203-0279

Being on top of the market is key and crucial to stay alive in this business.  Sounds like you have a good handle on this aspect.  Great job.

Jun 21, 2012 09:21 AM #12
Rainer
127,259
Frank Iglesias
Working With Houses, LLC - Atlanta Real Estate Investments - Lawrenceville, GA
Atlanta, GA Real Estate Investor

Sometimes easy, sometimes quite difficult!

Jun 21, 2012 10:25 AM #13
Rainer
245,388
Donald Reich
Prudential Centennial - New Rochelle, NY

Joe, you have a lot of great information here, even if the stats are not what we want to see. Keep up the good work!

Jun 21, 2012 06:26 PM #14
Ambassador
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Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Howard County & Catonsville

Awesome display of statistics to bring the point home. Sad for the other seller!

Jun 21, 2012 07:19 PM #15
Rainmaker
1,121,995
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I think this is a good post to share with sellers... They need to really look at the impact of a home not selling and how that may impact their lives moving forward.

Jun 21, 2012 07:48 PM #16
Rainmaker
2,043,626
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Congratulations on the featured post. I hope sellers will read it and take your advice.

Jun 22, 2012 03:54 AM #17
Ambassador
1,600,767
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M
Joe- Sometimes people can only see what they want, especially when it's a difficult reality to face.
Jun 22, 2012 08:30 PM #18
Rainmaker
142,315
Kimberly Tapscott
Keller Williams Prestige Properties - Stamford, CT
Giving you the service you deserve!

Joe - love the post.  Sellers this can not be a emotional transaction.  Once you put the property on the market, it is a "product" not a "home".  It's a hard market and the market will tell you the value of the property - with or without offers.  Great job!

Jun 24, 2012 06:48 PM #19
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