Pre-Recession Pricing

In my reading today of the Kiplinger Report my thoughts went to so many of our clients that have been effected by the most current recession and the disappointment in the current recession pricing of the housing industry. Kipplinger reports, “the sad fact is, it will take a decade to regain the pre-recession high sales of homes” “Even a return to the pre-bubble levels will take years”. This is often a hard pill to swallow but none the less a reality check for all who want to sell their homes today. When all efforts are exahusted such as staging, fresh painting inside and out, landscaping etc it more often then not comes back to pricing. The market is often unable to sustain the clients desired price. My job is to tell the client the truth and that truth is that they will need to reduce the price immediately in order to attmept to bring about a sale. Unfortunatley the market conditions have changed drastically and none of us could have predicted this. The market will only bare certain prices and I do not have any control over that factor. With the cooperation of the client in reducing the price or properly pricing from the onset we can get a well qualified buyer to purchase the home but until the price matches the market condtions we will all be simply spinning our wheels. Frustration on our part is when inexperienced or over zealous fellow realtors go in with Over inflated pricing we can not compete with that listing strategy. Our policy at HomeStead is to tell the potential client the TRUTH because the first two weeks of any new listing is the most important time to have the home priced accurately. When you or someone you know over inflates the true market value you will lose out to a REAL qualified buyer to the homes around you that are priced properly. Our Job at HomeStead is to NOT tell the client what they want to hear but tell them the truth right up front. Don’t always be fooled by high pricing stategies these will work to get you to list but it will not get your home sold in a timely manner for the highest and best TRUE market value.

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