Don’t Take The Bait!

While some firms are boasting the largest market share, the largest staff and the largest ads, to obtain your listing, you may want reconsider before committing.

As of today, we have 445 residential homes on the market with 12 home sales in the last month for an average sale price of $217,000 and an average Time of Market of 389 days. Added to that is an additional 225 vacant land properties with an average days on market of 376.

So why are the days on market so extraordinary as compared to other areas of the state? The most common answer is “We are in a bad market”. Unfortunately, there is more at work here than a bad market. The “list at any price” brokerage firm may not be telling you that you are the one for paying for the lack of proper pricing using a CMA and professional counseling.

For instance, one listing that had been on the market @ $375,000.00 and finally sold 891 days later at $235,000. If only the agent had the strength to convince the seller what the property was really worth in the beginning, the property would have sold for more and spared the seller years of carrying costs.

Thankfully, there are some great real estate practitioners in this town that I am willing to recommend, even though they are my competitors. Also, we are seeing some excellent buying opportunities!