Posts Tagged as Real Estate Prices

How to Guide Buyers Into a Winning Bid

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.

How to Creatively Get More Seller Leads with Video

Falling Prices Boost Sales Trends

Recent real estate trends reported by the National Association of Realtors have shown purchases of existing homes, which had fallen in July, rebounded in August – some 5.1% higher than prices in August 2015, Why the bump? Typical for that time of year, demand decreased and prices began to fall, which may have led to the bump in August.

How high did they climb?
Existing home sales rose 5.5% from the previous month and 7.3% from the previous year, at 541,000 purchases. Luckily, though, median prices dropped 1.3%, but they were still up overall – 5.1% from the previous year.

A better buy
Lower than the cost of a newly built home which sold for a median $294,600 in July, the $240,200 median price tag for gently-used homes offered budget-conscious buyers a late-summer bargain.

The rise and fall
Most buyers choose and move before the school year starts, typically settling before August and declining thereafter. However, inventory has been tight this year and prices have been up. As demand dropped in August, prices also fell. (The two extra business days in August probably didn’t hurt sales either.)

Real estate trends show an upswing nationwide:

• South
Lower cost of living, bringing an influx of companies to the south, is bringing new jobs and residents, boosting sales to 7.4% over last year and prices up 6.7%. In August, 217,000 homes were sold at a median home price of $209,700.

• Midwest
The Midwest sports some of the lowest home prices in the country, with a median $190,700 sale price. Here 132,000 homes went under contract, up 7.3% annually, 5.5% year-over-year.

• West
The nation’s costliest region saw 115,000 purchases, up 7.5% annually, with median pricing up 9.2% to $347,400.

• Northeast
Supply-restricted, the Northeast still closed on 77,000 homes, with sales up 6.9%. Prices rose 0.8%, to a median of $274,100.

Local real estate trends show things looking up? Cash-in with the help of Properties Online.