Palm Beach Real Estate and Loans

Now that were getting into the busy season for Palm Beach Real Estate, pricing your home for a timely sale is going to get more and more press.

I recently wrote a post that dealt with properly pricing your home for sale -what to do, what not to do.

Well, here is another BIG MISTAKE: people actually RAISING the listing price on their homes for absolutely no reason!

Look, we are in the middle of  a Buyers' Market - the Buyer has the upper hand- not the Seller.

If your real estate has been listed for a long time and you aren't getting offers on it....... there's a reason!  It's improperly priced (or the Agent doesn't know how to advertise).

Now, if we had a Seller's Market the price increase can be used to show that the property is 'highly desirable', or so the theory goes.

In a Buyer's Market - for lack of a better phrase - it's just plain stupid.  If your Agent recommends it, I would be very suspicious of their reasoning.

Often unscrupulous Agents will promise to get you more $$ as a way of stealing your listing away from whomever you currently have it with.  Of course this is grossly unethical, but there are people who do it.  You might  be thinking: "GREAT more money!" - BUT if your home hasn't sold at the current price - why would you want to make it even LESS desirable?!?

Are you following me?

Here's another thing to consider and here we're talking hard numbers - not theory, opinions, etc.

Most people are going to need to borrow money to purchase a home - they're going to need a mortgage.  One of the things that the buyer is going to need to do is have the home appraised.  The lender needs to get an idea of how much the home is worth.  So... if the real estate is overpriced, potential buyers are going to have a hard to impossible time getting the mortgage they need!

You need to put your ego away and price the real estate to sell, unless you want to hold on to it for a LONG time.

If you're not sure of the value, contact me - I'll prepare a Comparitive Market Analysis (CMA) for you, we'll review what's sold in your neighborhood in the last 6 months, I'll show you what's currently listed and I'll give you my recommendation for pricing the home.

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