If you PRICE RIGHT...they will come!

If you Price Right…they will come!

There’s so much talk today about pricing your home right, pricing it to sell, lowering the price…price, price, price, price, PRICE. Well folks, there’s so much truth to it. However, rather than type up a long dissertation about how buyers shop, the definition of value and my favorite, put yourself in the buyer’s shoes, I’m going to just give you plain old facts.

See, the numbers don’t lie. The reality is the price of your home has dropped. It doesn’t matter how much better your home is than the neighbor’s, buyers are bargain shopping. Once you do finally sell your home, you’ll be doing exactly the same thing!

So take a look at REAL LIFE examples below of how much time it took these sellers AND their agents to get the right price on the home….then, LOOK HOW FAST IT SOLD! Once you read this report, draw your own conclusions. If you’re really smart, call your agent immediately and drop the price!

MLS#        DOM  OLP             PRD           UCD                UCP       Sold Price

49420          1408  $459,900     1/3/11           2/1/11           $329,900     $300,000

56621          960     $729,000     8/14/10        10/4/10        $499,000     $475,000

58750          904     $729,999     3/2/11           3/22/11        $535,000     $517,000

58643         878     $339,000     10/14/10      10/24/10      $228,000     $206,000

59547         866     $1,099,000  1/27/11        2/26/11        $775,000     $700,000

60181         812     $875,000     2/17/11        3/25/11        $599,000     $550,000

59663         785     $215,000     2/4/11           2/25/11        $125,000     $117,000

60660         762     $579,000     2/25/11        3/16/11        $489,900     $475,000

59676         755     $359,900     8/12/10        9/17/10        $239,900     $230,000

61567         738     $475,000     11/11/10      3/30/11        $329,000     $319,000

60873         722     $1,750,000  1/3/11           1/27/11        $1,3M       $1,256,000

61600         676     $649,900     12/23/10      2/18/11        $399,000     $392,500

64943         444     $625,000     2/24/11        3/22/11        $485,000     $470,000

64410         436     $399,000     1/24/11        2/9/11           $315,000     $315,000

64511         401     $435,000     3/12/11        3/18/11        $399,000     $375,000

65995         347     $219,000     2/2/11           3/15/11        $175,000     $140,000

67319         240     $379,000     12/6/10        1/8/11           $299,000     $277,000

65718         438     $599,000     4/22/11        6/10/11        $524,900     Pending

67178         302     $1,535,500  4/8/11           5/6/11           $956,700     Pending

69264         132     $415,000     6/2/11           6/9/11           $337,000     Pending

68623         204     $4,500,000  5/31/11        6/8/11           $1,799,000  Pending

*This is just a sampling of the nearly 600 homes sold on the Outer Banks so far in 2011. There are pages and pages and pages of additional examples.

Key –

MLS# - The number given to the listing when it enters the Multiple Listing Service

DOM – The number of days the home was on the market, including the time it took to close the deal.

OLP - The Original Listing Price for the home when first listed for sale

PRD – The date of the price reduction causing the sale. Most homes had multiple reductions over time

UCD – The date the home went under contract

UCP – The price the home was listed at when the contract to purchase came in

Sold Price – The price the home eventually sold and closed for

For a comprehensive analysis to find out what your home can SELL for, contact me today!