Homeowners holding out in hopes of receiving their asking price need to be careful that they miss out on a window of opportunity that is about to close. The first time home buyer, long time resident tax credit is set to end on April 30, 2010. Once the end of the tax credit comes there may be a reduction in the number of homebuyers available.
Perhaps equally important to a home seller is that prior to the end date there will be buyers rushing to purchase homes in order to qualify for one of the two tax credits. A seller who fails to offer their home at the very best price while buyers are rushing to buy during the time left is making a mistake that could cost them both time and money.
If your home has lingered on the market for several months with no offers and you have not been inclined to lower the price you should rethink your strategy. Your competition continues to be REO homes, short sale homes and due to the length of time your home has been on the market, newer traditional listings priced comparable to yours with less time on the market. We suggest a substantial price reduction whenever possible in order to attract the maximum attention possible to your home.
The tax credit window is closing and along with it the time to present your home to the greatest number of eager buyers. The time to reduce your price when possible is now.
Related Florida real estate blog posts on price reductions
Showing posts with label price reductions. Show all posts
Showing posts with label price reductions. Show all posts
Oct 23, 2008
A home with a price reduction is like a new listing!
I would like to invite you to take another look at our listings. 66% of our homes listed have received at least 1 price reduction.
Perhaps you viewed one of our homes and really liked it but thought the price to high. There is a very good chance that the home you liked has received a price reduction since you viewed it. Don't miss out on the chance to purchase a home at the now, very good price!
Call or email me to receive a list of homes where the seller has reduced the price.
Related Florida real estate views:
Home buying checklist
Smart home sellers listen to what the market is telling them.
Home not selling? What does your agent say?
- Greg Staker 407-304-0255
Perhaps you viewed one of our homes and really liked it but thought the price to high. There is a very good chance that the home you liked has received a price reduction since you viewed it. Don't miss out on the chance to purchase a home at the now, very good price!
Call or email me to receive a list of homes where the seller has reduced the price.
Related Florida real estate views:
Home buying checklist
Smart home sellers listen to what the market is telling them.
Home not selling? What does your agent say?
- Greg Staker 407-304-0255
Jun 17, 2008
Smart home sellers listen to what the market is telling them.
One of our agents received a price reduction on a property recently. This home has been on the market for several months with the seller refusing to lower the price.
Finally an offer came in considerably lower than seller has the property listed for. The seller responded with a counter offer also lower than their current list price.
Unfortunately the deal did not come together but our agent took advantage of the situation by suggesting to the seller that since they were willing to sell for less as indicated by their counter offer to the buyer, perhaps now would be a good time to reduce their price.
The market will always determine the price. This seller now understands that and made the necessary change.
Related Florida real estate views:
Appraisal problems add to the frustration
I am not going to give my home away!
What are the repair obligations to the home seller when using the FAR contract?
- Greg Staker - Watson Realty Corp. - 407-304-0255
Finally an offer came in considerably lower than seller has the property listed for. The seller responded with a counter offer also lower than their current list price.
Unfortunately the deal did not come together but our agent took advantage of the situation by suggesting to the seller that since they were willing to sell for less as indicated by their counter offer to the buyer, perhaps now would be a good time to reduce their price.
The market will always determine the price. This seller now understands that and made the necessary change.
Related Florida real estate views:
Appraisal problems add to the frustration
I am not going to give my home away!
What are the repair obligations to the home seller when using the FAR contract?
- Greg Staker - Watson Realty Corp. - 407-304-0255
Apr 5, 2008
2.5 million dollars in price reductions
That is the goal for our office in the month of April. 2.5 million dollars in total volume.
It is time to be aggressive with pricing if there is going to be any chance of a home selling in these current conditions. Keeping this goal in the minds of the agents and sellers throughout April should help.
2.5 million is a hefty goal for us to achieve. In February we totaled 1.4 million and in March 1.7 million dollars volume of price reductions.
It is time to be aggressive with pricing if there is going to be any chance of a home selling in these current conditions. Keeping this goal in the minds of the agents and sellers throughout April should help.
2.5 million is a hefty goal for us to achieve. In February we totaled 1.4 million and in March 1.7 million dollars volume of price reductions.
Related Florida real estate views:
I am not going to give my home away!
What do banks know that home sellers do not?
- Greg Staker - Watson Realty Corp. - 407-304-0255
Mar 30, 2008
Price your home below others in your area
This video offers insight to those who need to sell in this market. Past home values and what you may want for your home will not be determining factors for what your home may sell for now.
Related Florida real estate views:
- Greg Staker - Watson Realty Corp. - 407-304-0255
Mar 27, 2008
Why homeowners refuse to lower the price of their homes
Lack of motivation and lack of equity are major reasons homeowners refuse to lower the price of their home. If you do not need to sell, now is not the time to try for top pricing or testing the market. If you are unable to sell for what you owe, there might be options available to you.
Related Florida real estate views:
- Greg Staker - Watson Realty Corp. - 407-304-0255
Jan 5, 2008
Actors not exempt from slowing real estate market
The Wall Street Journal reports that Burt Reynolds recently slashed the asking price on his Florida home.
The article states:
Actor Burt Reynolds has cut the price on his 12,500-square-foot waterfront Florida compound for the second time. It's now listed for $10.5 million, 30% below its original asking price. (read entire article)
More sellers will be following suit this year and reducing the price of their Central Florida homes or watching them collect nothing but time on the market.
Related Florida real estate views:
Smart home sellers listen to what the market is telling them.
Home not selling? What does your agent say?
Price reductions - Price improvements - Price correctly
- Greg Staker Watson Realty Corp. 407-304-0255
The article states:
Actor Burt Reynolds has cut the price on his 12,500-square-foot waterfront Florida compound for the second time. It's now listed for $10.5 million, 30% below its original asking price. (read entire article)
More sellers will be following suit this year and reducing the price of their Central Florida homes or watching them collect nothing but time on the market.
Related Florida real estate views:
Smart home sellers listen to what the market is telling them.
Home not selling? What does your agent say?
Price reductions - Price improvements - Price correctly
- Greg Staker Watson Realty Corp. 407-304-0255
Nov 29, 2006
Price reductions - Price improvements - Price correctly
Regardless of what you call it, proper pricing is the key to homes that are selling and homes that are sitting for month after month, frustrating Realtors and sellers. Back in the fall of 2005 I had started blogging about reaching the ceiling of value in our marketplace. I likened what was happening to a baseball runner getting caught between bases.
Well guess what? Here we are. I have seen agents and managers scurrying around this year trying out any gimmick they can think of in hopes of selling their listings. Builders and sellers are offering cars, trips and more in hopes of attracting buyers and sales. All of this to entice buyers who, according to most surveys, are primarily motivated by a home's price.
Statistics this past week of 11-20 to 11-27 provides additional proof. I checked the MidFlorida MLS and according to my research, 222 homes went under contract within the time period in Seminole and Orange County. 61% of those homes had at least 1 price reduction. Amazingly, of those homes that went under contract during the 1st 30 days of listing, 21% already had at least 1 price improvement. 84% of those homes on the market for over 90 days that received an accepted contract had at least 1 price reduction.
It is that simple. Not sure where your home should be priced? Call one of my top associates for a free market evaluation.
Related Florida real estate views:
Americans believe home prices will increase
National real estate market nowhere near the bottom?
Short sales offer clues to traditional home sellers
- Greg Staker Watson Realty Corp. 407-304-0255
Well guess what? Here we are. I have seen agents and managers scurrying around this year trying out any gimmick they can think of in hopes of selling their listings. Builders and sellers are offering cars, trips and more in hopes of attracting buyers and sales. All of this to entice buyers who, according to most surveys, are primarily motivated by a home's price.
Statistics this past week of 11-20 to 11-27 provides additional proof. I checked the MidFlorida MLS and according to my research, 222 homes went under contract within the time period in Seminole and Orange County. 61% of those homes had at least 1 price reduction. Amazingly, of those homes that went under contract during the 1st 30 days of listing, 21% already had at least 1 price improvement. 84% of those homes on the market for over 90 days that received an accepted contract had at least 1 price reduction.
It is that simple. Not sure where your home should be priced? Call one of my top associates for a free market evaluation.
Related Florida real estate views:
Americans believe home prices will increase
National real estate market nowhere near the bottom?
Short sales offer clues to traditional home sellers
- Greg Staker Watson Realty Corp. 407-304-0255
Feb 7, 2006
Price adjusting equals sales
The Florida real estate market continues to be exciting. Here in the Maitland office, which covers all of Central Florida including the Orlando, Lake Mary, Winter Park and Longwood areas, January proved to be an exciting time. Over 14 million dollars in written business! Our associates understand the value of staying on top of their listings and providing the best marketing strategies. As the listing inventory continues to rise, recognizing the right time to adjust pricing is a valuable key to success.
Homes are still selling. The average days on the market still appear to be in line with the end of last year. Proper pricing is evident in statistics pulled from the multiple listing service. When looking at homes in Orange and Seminole County that have went under contract from January 1st till the 6th of February, records indicate that 67% of those homes that received a contract within 60 days of list, had at least 1 price reduction. Sellers and Realtors who address pricing after the 1st 30 days, increase their chances of receiving an acceptable offer while those who don't tackle this issue continue to remain unsold. The time to look at price adjusting is not after the home has sat on the market after 90-120 or more days.
The market is constantly changing. An associate of Watson Realty knows how to assist the sellers during these changes. One way is to suggest price improvements. Rest assured that we will always look for ways to make sure our customers reach their ultimate goals.
Related Florida real estate views:
Free report on why your home did not sell.
What do banks know that home sellers do not?
Interviewing real estate agents
- Greg Staker Watson Realty Corp. 407-304-0255
Homes are still selling. The average days on the market still appear to be in line with the end of last year. Proper pricing is evident in statistics pulled from the multiple listing service. When looking at homes in Orange and Seminole County that have went under contract from January 1st till the 6th of February, records indicate that 67% of those homes that received a contract within 60 days of list, had at least 1 price reduction. Sellers and Realtors who address pricing after the 1st 30 days, increase their chances of receiving an acceptable offer while those who don't tackle this issue continue to remain unsold. The time to look at price adjusting is not after the home has sat on the market after 90-120 or more days.
The market is constantly changing. An associate of Watson Realty knows how to assist the sellers during these changes. One way is to suggest price improvements. Rest assured that we will always look for ways to make sure our customers reach their ultimate goals.
Related Florida real estate views:
Free report on why your home did not sell.
What do banks know that home sellers do not?
Interviewing real estate agents
- Greg Staker Watson Realty Corp. 407-304-0255
Jan 25, 2006
Orlando has homes for sale
Latest numbers indicate over 10,000 properties are available in and around this area. Buyers now have the ability to compare and shop around a bit more than they did last year. Average days on the market is still around 37, so this would indicate a home priced correctly will still move quickly.
Key of the month is price reductions IF needed. Don't let the Orlando area home sit with no offers or activity. The "testing" the market with higher prices is a thing of the past now. The cma is correct unlike last year when it was anyone's guess what values were doing.
So is all hope lost? Heavens no. Those of us at Watson Realty are prepared for all markets. It is business as usual for the Maitland associates. Our group can offer the home seller professional, knowledgeable and sound advice with the best in marketing programs developed over decades with successful results.
Related Florida real estate views:
Smart home sellers listen to what the market is telling them.
Home not selling? What does your agent say?
Price reductions - Price improvements - Price correctly
- Greg Staker Watson Realty Corp. 407-304-0255
Key of the month is price reductions IF needed. Don't let the Orlando area home sit with no offers or activity. The "testing" the market with higher prices is a thing of the past now. The cma is correct unlike last year when it was anyone's guess what values were doing.
So is all hope lost? Heavens no. Those of us at Watson Realty are prepared for all markets. It is business as usual for the Maitland associates. Our group can offer the home seller professional, knowledgeable and sound advice with the best in marketing programs developed over decades with successful results.
Related Florida real estate views:
Smart home sellers listen to what the market is telling them.
Home not selling? What does your agent say?
Price reductions - Price improvements - Price correctly
- Greg Staker Watson Realty Corp. 407-304-0255
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