unrealistic seller

Two Types of Overpriced Properties Today

You Know They Know You Know (Know What I Mean?) Not all overpriced homes are created equal (and today’s housing market seems to have more than usual). In fact, it sure seems (at least to me) like they divide into two camps:  1) Sellers who are overpriced and know it; and 2) Sellers who are...
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“Losing” a Listing — But Saving Six Months (or More) of Time/Energy*

Shooting the Messenger Listing Agent I think the prospective client to whom I made a listing presentation the other week is hiring someone else. Or, at least, I think he is; he never returned my phone calls after the meeting. Setback — Or Not? Five years ago — 60 or 70 deals back, in Realtor vernacular — I would...
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Broken Clocks and 2009(!) Listings

Now, THAT’S Patience Just as broken clocks are accurate twice a day, an overpriced home that sits on the market long enough is likely — eventually — to be overtaken by the next market “up cycle” and once again be well-priced. So, I’m aware of a handful of active listings scattered through the Twin Cities...
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Quick! Guess the List Price

Question #2:  How Long Has it Been for Sale? Test your knowledge of the Twin Cities housing market, and guess how much this single family home just northeast of Lake Calhoun in Minneapolis’ Uptown neighborhood is listed for: A. $150,000 B. $237,500 C. $399,900 D. $1.1 million Answer:  “D.” (believe it or not) While the...
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Waiting for the Price to Drop — or Not

Testing an Unrealistic Seller It seems to be happening a lot in today’s housing market:  Buyers find something they like, but — based on the Comp’s — the Seller’s price appears to be high. What to do? One option is to simply wait. Overpriced listings have a way of coming down to earth, and Buyers...
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“Three Strikes & You’re Out!”

Passing on Unsaleable Listings Want a good Realtor to list (and ideally, sell) your home? In a Twin Cities market full of fussy Buyers and lots of inventory (with notable exceptions), you’d better meet the following three criteria. One.  Be motivated. No, “motivated” doesn’t mean “desperate.” To a Realtor, a “motivated seller” is someone who’s willing...
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