Posts Tagged as House Prices

November May Just End Up Being Your Best Month

Getting a Price Drop: How to Have the “Tough Love” Talk with Your Seller

Sometimes in the realty industry, a little tough love is called for. It’s never easy. It’s certainly not fun. But it’s always necessary. How can you get through it without the emotional blowback? We’ve got the real estate selling tips to help you lay on the tough love, and not only survive, but thrive…

How to Help Sellers Get Past Ugly Home Sales Obstacles
Open a sellers’ eyes to listing issues without stumbling clumsily through your explanation or alienating them:

– Seller Has Listed Over CMA
“We began marketing your listing at what the industry refers to as the ‘seller’s price,’ the amount you hoped to get for you home. Following 3 weeks with no offers, it appears the market is not on par with this preliminary pricing. I’ve double-checked our original market analysis, and have a copy for your review, and I’d like to suggest offering your home at a price the market indicates, in this case, $XX.”

– The Price You Put on the Home is Too High
“I am in a position of having to deliver some difficult news. It is one of the toughest parts of my job, but I wouldn’t be providing you the level of service you deserve if I didn’t. My initial price recommendation was based on what you were looking to take away from the home sale, but the market is telling us that pricing is incorrect. I would like to get together with you and discuss price adjustment options.”

– Price is Right, But No Offers
“Homes that linger on the market are either priced to high or in poor shape. Since your home is in excellent condition, I believe the market is telling us we missed the correct price. I suggest we lower your listing price by $XX and see if that nets offers.”

Don’t let listings linger. Move inventory fast with real estate selling tips and tech from Properties Online today.

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House Prices on the Rise

In 20 U.S. cities, home prices have reached highs not seen since 2006, according the S&P/Case-Shiller index of property values. House prices are on the rise in certain parts of the country, with residential real estate prices increasing in January the most they’ve done since June 2006.

The Federal Housing Finance Agency agreed, with its records showing that real estate prices advanced 6.5 per cent in the year through January.

With interest rates staying relatively low, these prices help bolster the recovering market.

The highest producing city on the index was Phoenix, Arizone, with 23.2 per cent surge over the last year. Even New York, which had been in a 28 month slump, turned around with a 0.6 per cent increase for January.

NAR stats showed that median home value climbed to $173,600, up 11.6 per cent on a year ago – the biggest gain since November 2005.

The hope, say many, is that higher prices will encourage more home owners to list their homes for sale with an agent, luring more home buyers into the market, eventually causing more new homes to be built.