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SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
:bang: :bang: :bang: this is a crazy business,I just saw one where the person raised the land $100,000 but had in the mls notes that it is priced to sell....Realtors, please read your agent notes!!! (ok shelly ready for comments :D :love: )


Apparently they're buying the industry rhetoric that RE has hit bottom and is now on its way up.

Get Balloons.....Get Busy.

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Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Apparently they're buying the industry rhetoric that RE has hit bottom and is now on its way up.

Get Busy.
.
If that is the case, that is one heck of a fast switch. While I do see some leveling out with particular sales, raising the prices like this in a market which has been in the decline recently, sure doesn't speak well for the sellers' knowledge of what is selling. If they price ahead of the curve, they will never sell it in this market, but they must not have to sell and just want to increase inventory.
 

2bfabian

Banned
Dec 29, 2006
323
0
63
on grand lagoon
If that is the case, that is one heck of a fast switch. While I do see some leveling out with particular sales, raising the prices like this in a market which has been in the decline recently, sure doesn't speak well for the sellers' knowledge of what is selling. If they price ahead of the curve, they will never sell it in this market, but they must not have to sell and just want to increase inventory.



It has been very interesting reading some of your post. I would recommend anyone who is reading this message board to read all of your recent post.
 

2bfabian

Banned
Dec 29, 2006
323
0
63
on grand lagoon
I just started a new thread and posted the following, but it seems this thread would also be a place where it might fit:

I just saw a price change for a listed property, which had notes, "VERY MOTIVATED SELLER!! BRING ALL REASONABLE OFFERS!!" I bet you wouldn't think the seller was so motivated if you saw the price change. It increased from $497,500 to $685,000. :shock: That is a 37% increase in price. Motivated seller??? Makes me wonder what that means anymore. When everyone is motivated, no one is motivated. It is really disappointing to see the term, "motivated seller," losing its value. There are truly some motivated sellers. I will let the price, not the wording, "motivated seller," tell me if it the seller is motivated. Does that mean that a buyer can negotiate the price down to $497,500 and feel like they got a huge discount?

Personally, I think the house is a great buy at $500K, but even great buys are not selling like hotcakes right now.
Perhaps there is more to the story, like the property recently receiving a zoning change allowing greater density or something, which might change the value, but on the surface, it just doesn't make sense. If it didn't sell during the last 5 months, priced under $500K, I'm not sure that it will sell now for $685K. A few sellers are realistic in their pricing, but I still question so many of the people who have property listed.
[/quote

Is the seller your competitor,or are you just upset that you are not selling it yourself? Maybe the seller could take classes on how to let your property sell for nothing.

I am sure you would be to glad to give him a class on this strategy.

I for one think the seller knows what he or she wants to do and applaud him or her on pricing the property for what he or she thinks its value is worth.

It is easy to question many things when you are not privy to all the facts.
 

Busta Hustle

Beach Fanatic
Apr 11, 2007
434
34
you just have to admit that this is not a normal real estate market...whether you are an owner/seller, agent, appraiser, the county assessor, you can not justify your price unless of course someone buys.
the county uses a few of the previous year sales, realtors have posted they use 3 months or 6 months MLS sales, owners pull a number out of a hat and at this point we are all depending on the uninformed...case in point, let's say area lot sales have averaged $110K for 6 months or so, a desparate seller comes along and takes 100K on his lot...next thing you know it is back on the market for say 165K and then in between all that 1 block over another lot, same size goes for $239K...Question 1: so what is a lot worth in that area?
 

InletBchDweller

SoWal Insider
Feb 14, 2006
6,804
263
54
Prairieville, La
you just have to admit that this is not a normal real estate market...whether you are an owner/seller, agent, appraiser, the county assessor, you can not justify your price unless of course someone buys.
the county uses a few of the previous year sales, realtors have posted they use 3 months or 6 months MLS sales, owners pull a number out of a hat and at this point we are all depending on the uninformed...case in point, let's say area lot sales have averaged $110K for 6 months or so, a desparate seller comes along and takes 100K on his lot...next thing you know it is back on the market for say 165K and then in between all that 1 block over another lot, same size goes for $239K...Question 1: so what is a lot worth in that area?[/quote]

It is only worth what someone is willing to pay for it!;-)
It does not matter what the seller wants to price it at, or the Realtor, or the appraiser.
 
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