Monday, March 14, 2011

Price it Right

Wow!!! Has life been busy in the last 30 days.   Buyers and Sellers alike have been contacting me to leverage the low rates on the new home they wish to buy.  The sellers have understand the data I have provided illustrating the need for a "compelling price" for a well-appointed home.
RESULTS:  Two listings sold within 7 days of being listed!!!  
So what is a "Compelling Price"????   
              If you read this blog in the past week, you read this chart:


The Compelling Price is a price that recognizes the modest price depreciation from 2008 and the ratio that my be present to a home originally purchased in 2004 or 2005 for example.  It notest that the value of the house may be down from "its high" but remains well-above what was paid.  In addition, this understanding provide "room" to price the home to sell yet at a profit.    One final item to address:  Foreclosure and Short Sale activity in a home's neighborhood.   
A Well Appointed Home is defined as an older home updated in key are

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