mispriced home

Buyers’ Fear of “Missing Something Better”

How Rational? One of the most common concerns Buyers (especially first-time Buyers) have is, “what if I commit to buying this home, and then something ‘better’ comes on the market?” How reasonable is that fear? Put it this way:  if the Buyer has done their homework, i.e., learned the market and fine-tuned what they’re looking for,...
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Stuck in Housing Purgatory

Plight of “The Kind-of-Dated House” The good is the enemy of the great. –Voltaire When it comes to enticing Buyers, “all new” is good (assuming it’s well-done). “Hopelessly dated” isn’t so good, but when that’s the case, at least it’s usually apparent to everyone (including the owner) — and priced accordingly. Which leaves the big,...
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Do You Really Want That $2M Listing??

Homes That Don’t Measure Up to Their Asking Price The quick Realtor answer to the question posed above? “No, not if the home’s worth closer to $1.3M.” That’s especially true if the owner with the unrealistic price expectations also expects a drumbeat of expensive marketing over the course of a year (or longer) — the...
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Ignoring the Asking Price

Mispriced Properties: Exhibit A Where: 46xx 1st Ave. South in Minneapolis What: Bank-owned (foreclosure) 3 BR/2 BA 1917 stucco home with 2,000 square feet. How (much): asking price — $72,900; sold price — $130,000 When: listed — 4/19/2009; closed –8/18/2009 In my post yesterday (Seller’s Motivation: Is it Relevant?”), I made the case that the...
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"Realtor-Concierge" — or "Realtor-Slave"?

Can You Say, “No Boundaries?” How about, “Unprofessional?” To reduce stress and temper the disappointment of lower sale prices ” and also to keep clients from dropping them for another agent partway through a seemingly endless sales process ” some brokers are significantly expanding their job descriptions. Beyond rearranging furniture and decluttering, they take on...
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