Abba sings “Money, Money, Money”.
This is a rendition of an article that I wrote for April 2009 and it’s nothing if not even MORE true today!!! You remember the age-old real estate adage: “location, location, location”? Well, it’s been trumped by PRICE! There are buyers out there but they are looking for a “steal or a deal” in order to entice them into the marketplace.
Location will always be an important component of real estate value, however, pricing has usurped its position as a stronger element for a successful sale. It’s all about price now! So, overpricing your home in this market is the “kiss of death” (and it doesn’t have to be much overpriced to accomplish this). It is very difficult to determine pricing (and, no one wants to leave money on the table), but you almost have to run the comparable data and ignore it! You absolutely have to price below the competition and price to lure the reluctant buyer to the table. The foreclosures and short sales are compromising the sale prices of homes in many areas and to be competitive the other sellers must respond. Properties with the possibility of selling short of what is actually owed on the property are often utilizing formulas for price reductions. The listing agent will consistently and incrementally drop prices until that property’s price hits that “sweet spot” in the market pricing continuum. You know you’ve reach the sweet spot when the activity and interest suddenly increases and there are often even multiple offers. This can also happen in a non-short sale or foreclosure situation (I was just involved in such a situation when trying to purchase an investment property…overpriced and no offers…I come in low…seller is out of town…while I wait they lower the price…and, suddenly there are three offers…I have to up my offer). This is a tough market, maybe tougher than most realize. It’s a competition for a smaller pool of buyers. You have to be competitive to even be in the game, you have to undercut the competition to win.
Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com

