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re: Real Estate Market
Posted on 4/11/24 at 8:26 am to llfshoals
Posted on 4/11/24 at 8:26 am to llfshoals
Sometimes, people overthink it.
It could have nothing to do with price.
It could have nothing to do with time on the market.
Some homes are difficult to move because of the driveway (too steep). It is the same s/d as other homes that are moving. But "momma" doesn't like the driveway. Or the way the neighbors property overlooks the yard. Or the home in this part of the s/d is too close to the main road.
A personal home is not a commodity based solely on price vs inventory supply. Someone is going to live in that commodity, and if there isn't an emotional connection (the smallest things can hurt that connection), a majority of shoppers are going to keep on looking elsewhere.
It could have nothing to do with price.
It could have nothing to do with time on the market.
Some homes are difficult to move because of the driveway (too steep). It is the same s/d as other homes that are moving. But "momma" doesn't like the driveway. Or the way the neighbors property overlooks the yard. Or the home in this part of the s/d is too close to the main road.
A personal home is not a commodity based solely on price vs inventory supply. Someone is going to live in that commodity, and if there isn't an emotional connection (the smallest things can hurt that connection), a majority of shoppers are going to keep on looking elsewhere.
2
Posted on 4/11/24 at 8:56 am to meansonny
Everything you said is true. Not sure if over thinking it describes it correctly. I am often amazed at how little thought many buyers put into house buying. That is a general statement and may not describe readers on a Money board, but it happens quite a bit.
The type of examples you give can absolutely affect a specific house. But not always. A house can have all those attributes and sell in a day. It only takes 1 buyer for a house. But most buyers want the connection you refer to. They may get it within minutes of walking through the door.
The type of examples you give can absolutely affect a specific house. But not always. A house can have all those attributes and sell in a day. It only takes 1 buyer for a house. But most buyers want the connection you refer to. They may get it within minutes of walking through the door.
Posted on 4/24/24 at 1:13 pm to meansonny
quote:
It could have nothing to do with price.
It could have nothing to do with time on the market.
Some homes are difficult to move because of the driveway (too steep). It is the same s/d as other homes that are moving. But "momma" doesn't like the driveway. Or the way the neighbors property overlooks the yard. Or the home in this part of the s/d is too close to the main road.
Sitting on the market too long and not getting the showings is a price problem.
Here is a possible scenario if you are priced 50K too high and lets say for this example you're on the market for 325K but should be priced at 275K
- Client (buyer) gives Realtor the following criteria to search MLS
- 3BR, 2 Bath, 1500-1700 SF, area xyz, price budget 250-275K
- Realtor will likely search 300K and below
- RESULT: you're home doesn't even show up at 325K
-
- Have the Realtor search homes on the market at the price you have your house listed: You will see, at that price point, the homes are a lot more desirable
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