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Orlando Florida Real Estate Letters to the Editor or My Baby Sent Me a Letter?

August 18th, 2008 by tisner

Pricing your home to sell letter to the seller

Real estate library

Orlando Florida Real Estate letters to the editor NOT.  Let’s try a different tact letters to the seller or My Baby He Sent Me A Letter as borrowed from song lyrics of Joe Cocker’s The Letter.

I don’t care how much money I got to spend ( the bank does)
I won’t find my way home again (this is a possibility)
Oh the lonely days are gone (it takes forever for a response)
I’ll be right home ( dream on)
My
baby, she wrote me a letter (You can handle the truth)

Had to face some hard facts this week and send out letters to the sellers about the pricing issues.

I decided to share some of these this week here to widen eyes and open discussion to just why sellers need to price their homes to sell.

Here is one of the responses to why you can’t price your home 200K higher than others in the neighborhood just because you have two extra bedrooms and beautiful furniture.

I appreciate that your homes are more bedrooms and top of the line, but this market is as tough as I have seen it and still moving down.

Currently we have over 4000 foreclosures in Osceola County, over 23,000 homes in MLS, and heaven only knows how many hundreds of new homes for sale.  Personally I think this market will take at least 5+ years to turn around.  So with all the competition and builders offering huge incentives that the regular home owners can’t compete.  Foreclosures ruining the comps for appraisers and banks just being so strict now it has been a hard year for all of our sellers to swallow when it comes to pricing.

Here are two stories to consider.  Home priced at the high end of everyone in the subdivision.  We get an offer first week 100K less the seller turns it down.  Nearly a year later his home now is priced 100K less but in a year the highest comps in his subdivision have dropped over 250K.  He moved back in to his house. 

Scenerio two we had a home in a very sought after subdivision priced competitively.  Got an offer for 45K less they refused now a year later they have dropped their price 35K still no takers so they refinanced and are going to stay.  In another year I expect prices to drop in this neighborhood another 50K based on the current pace of sales and foreclosures.

This is not what anyone wants to hear but it is going on and taking a toll.

Where do you want to be?  Pricing now must be a number one priority. 

The longer you wait to price correctly the more you could lose.

Do you want a for sale sign or a sold sign?

We can offer excellent options and honest pricing opinions get the facts right upfront and avoid a frustrating drawn out situation.  Go to our Market Snapshot and find out just what your home is competing against and current prices on your street. 

Still not convinced here are more resources that may help you.

zillow.com and How to Price your home from realtor.com

Oh yes one more thing if you read the next post there is a free book offer.

Call Teri Isner today and the Orlando Avenue Top Team Today if you are Buying Selling or Relocating We Can Help!

Oh yes here are the Boxtops singing their version of The Letter

 

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Teri Isner, CIPS, CRS, GRI
Keller Williams At-The-Lakes
66 Riley Road
Celebration, Fl 34747

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