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Aug 25 2016 23126 1
Recipe for disaster: The Overpriced Home
By: Linda Piercy
A real estate agent who gives unrealistic valuations to the home owner
A home priced well-above neighboring properties
Peculiar amenities in the home â€“ can be substituted for lack of amenities in the home
List the property online with the higher-than-comps price. Watch very little traffic occur.
Show the home a few times, but not a steady stream of showings.
Receive the common feedback word for the property â€“ â€śoverpriced.â€ť
Home owner refuses to lower the price, citing that they want top dollar.
The home can be marketed for months without a single offer.
The longer the home is on the market, the less value it has in the eyes of buyers.
The home owner might receive only low-ball offers for their property.
Has this happened to you? Perhaps it's time for a re-evaluation. Should you take the home off the market temporarily? Is there something about the home that can be improved? Itâ€™s not a crime to want top dollar for the property, but make sure that it doesnâ€™t affect the overall appeal. Good luck out there and let me know how I can help!