Well I had another laugh last night. I was putting in an offer on a home in Livingston
County. The house was already overpriced by about $50,000 in this market. Obviously either the agent or the homeowners were on crack. We had to put an offer in of $100,000 less just in case they want to negotiate and split it right down the middle. Sometimes it is harder to negotiate with people that don't have their feet on the ground. The agent even had the audacity to say it was priced right. It was a nice home but obviously they had not checked the sold comps. They must of been relying on "for sale" comps. I do not know if we can negotiate down to the right price or if the current home owners will have to sit on the house for another 6 months to a year before they get wise.
The current homeowners have already been on the market for 6 months. The four most recent comps were $40,000 lower, $45,000 lower, $57,000 lower, and $100,000 lower. If you took into account that some of those houses sold months ago the difference is even bigger. Because home prices are still falling. 3 of those houses were in better neighborhoods or better school systems. Which made our prospective home worth less than them.
If you truly want to sell your home you must price it right. If you are moving and want to find out the value of your home go to http://www.checkmyhousesvalue.com/ Have your agent pull the sold comps. Sit down and think how yours compares to them. If they sold while yours was on the market then why "if yours is such a great deal, didn't it sell?" Because like these buyers you are over priced for the features you have. Check out the for sale homes in your area. Which one would your cheap uncle buy? Would he really buy your home because 0f.... www.russravary.com