Chasing the Market
I have an idea (call it a gut feeling) that we have entered times when sellers and their agents are chasing the market downwards.
Meaning:
You want the most out of your house you can get. (Trust me…so does your agent) Your Agent tells you it should sell for about $185,000.00 you are thinking $210,000.00 You tell them you want to try it at $200,000.00 and that you are interviewing 2 other Agents. Well this Agent wants a listing so agrees to list it for you at $200,000.00. So 4 months later your upset that the house is not shown much anymore and you agree to drop the price to $195,000.00. TOOOO LATE!!! The market droped 2%…which is a very conservatively realistic at 6% per year…in this current market. So now your actual value is $181,300.00. Now 4 more months have gone by and still no offrers 240 days on market, so you try another drop $192,500.00 thinking …gosh…They told me $185,000.00 and we are getting closer to that…but your house is now actually worth $177,674.00. Lets hope this is starting to make sence verses looking very familiar. If you have Questions about this or just want Straight Honest Answers call me! All that it costs your is time!
