Quote:
Originally Posted by Lou Card
When we put our house on the market in Georgia, at $250K, our agency had an open house for agents only. Their combined response was that we were priced too high. Recommendation was to reduce the price to $199,000. We sold in 2 months for $242,500, no seller closing costs, not repairs or changes wanted. Keep in mind that comps are a reflection of what agents convinced the sellers in your area to market their house at. It has nothing to do with value. If a home does not sell the Agent does not make any money. Now if you are lucky enough to find that one out of fifty agents that is in fact honest, take the advice, but you are more qualified to price your own house if you do proper research. Yes, use comps, but take them lightly. We had two offers at or near $190,000 within weeks, by Rental Investors from Atlanta.
FACTS: According to agents
When you sell, the improvements on your home don't represent value.
When you buy, the same improvements are worth big bucks.
When you buy a house with a pool, it is worth 30K more dollars.
When you sell a house with a pool, it eliminates many buyers.
TRUE FACTS:
Staging is very very important.
Pack away everything that makes the house yours like Pictures/souvenirs.
Less furniture makes the rooms look bigger.
Paint that Red room back to a neutral color.
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LOU:
What an "on target" post. Love all your observances.
We experienced all of them.
Re the inground pool, re the improvements, etc.
Each time we practically gave our homes away, even though we made profits as the mortgage was paid up...........but still......later, those who bought our homes, SOLD HIGHER just by waiting out a bad market.
Usually, these agents just go by the town records of what else is selling in the neighborhood or has sold in the past..........not what they are truly seeing in front of them.
The faster they sell it, the better for them.