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Comps here are around $162k (for a house in our neighborhood, without the double lot and without the lake access that we have) - sold in December. Nice neighborhood down the street - sold in Feb $162,000 , also 1970's ranch, but smaller lot, and no updates inside, 2 story vs our one story.
We back up to Army Corp. property for at least 1/4 mile, so solid woods, deer, etc. I can't even see another house from my back deck. We also have lake access to Lake Lanier. I can walk down my backyard to the cove and launch a boat if I wanted. We also have a double lot and are in the most desireable school district. That all has to be worth something! I feel like we are being very reasonable with our price. Priced right in line with recent sales, but still the pool of buyers in my town is just dismal. Jobs are still being lost here and GA in general is seeing rising unemployment.
The way you described it it appears that you have a great house. I guess it's just the market. Given the fact that you still have to look for a job in Florida where the unemployment is rising faster than the house values are sinking (or so I thought) I would sit tight, as you said you don't HAVE to sale now.
What appears fair to you might be overpriced for the few and far in between buyers. In the summer when we were actively house hunting all the sellers that we thought were way overpriced (for whatever reason) has since pulled off the market. If you really have the ability to stay put, I would do it.
I don`t think ALL sellers are selling their house at an unrealstic price. A lot of the problems right now(besides the economy) is with the buyers. A lot of them have a since of entitlement and are just plain greedy. The seller has every right to make some kind of profit.Even if it might only be 3,000. Buyers forget that they sellers need to pay the agent and other closing costs. They need to have some kind of profit from their house in order to do that. It`s not all about the buyer and I see people taking their houses off the market because they won`t go any lower than they already have. Why should people give their houses away to a greedy buyer. Especially when it is priced right.
It's all about supply and demand - greed or lack of it has nothing to do with it.
If one doesn't have to sell, then take your home off the market - you'll do yourself and others a favor.
I don`t think ALL sellers are selling their house at an unrealstic price. A lot of the problems right now(besides the economy) is with the buyers. A lot of them have a since of entitlement and are just plain greedy. The seller has every right to make some kind of profit.Even if it might only be 3,000. Buyers forget that they sellers need to pay the agent and other closing costs. They need to have some kind of profit from their house in order to do that. It`s not all about the buyer and I see people taking their houses off the market because they won`t go any lower than they already have. Why should people give their houses away to a greedy buyer. Especially when it is priced right.
They couldn't go lower than they already have or they couldn't lower to where the market is asking?
It is true that there may be buyers that would throw anything and see if it sticks. But if somebody list a house for months, no buyer, and then remove the house from the market, I would have hard time calling that that is beacause of greedy buyers.
I don`t think ALL sellers are selling their house at an unrealstic price. A lot of the problems right now(besides the economy) is with the buyers. A lot of them have a since of entitlement and are just plain greedy. The seller has every right to make some kind of profit.Even if it might only be 3,000. Buyers forget that they sellers need to pay the agent and other closing costs. They need to have some kind of profit from their house in order to do that. It`s not all about the buyer and I see people taking their houses off the market because they won`t go any lower than they already have. Why should people give their houses away to a greedy buyer. Especially when it is priced right.
Greedy buyers? Buyers shouldn't care one bit about the sellers. They should try and get whatever house they are trying to buy at the lowest possible price. Sellers either agree to that price or they don't. End of story.
Sellers have zero "right" to make a profit. They have the "right" to sell their house for as much as they possibly can. If that makes them a profit great for them. If it doesn't, so be it.
It's all about supply and demand - greed or lack of it has nothing to do with it.
If one doesn't have to sell, then take your home off the market - you'll do yourself and others a favor.
How much of a loan people can obtain and or their incomes may even be more important. As we saw several years ago; people are willing to pay a lot more when it's easy credit.
I don`t think ALL sellers are selling their house at an unrealstic price. A lot of the problems right now(besides the economy) is with the buyers. A lot of them have a since of entitlement and are just plain greedy. The seller has every right to make some kind of profit.Even if it might only be 3,000. Buyers forget that they sellers need to pay the agent and other closing costs. They need to have some kind of profit from their house in order to do that. It`s not all about the buyer and I see people taking their houses off the market because they won`t go any lower than they already have. Why should people give their houses away to a greedy buyer. Especially when it is priced right.
I wasn't going to respond but felt the need to defend buyers--since I am one right now (and was a seller last year).
I notice that there are quite a few sellers who believe exactly what you have stated but I must say that this reasoning is not valid. Just because a seller NEEDS to make a profit does not have anything to do with current market value. Last I checked, appraisals did not take into account a seller's need. . .just comps, which are the best indication of what a seller can expect to get for his/her home. So, if there is an issue, it should be taken up with both seller and buyer because a sale/comps only exist when both parties agree on the price/terms of sale.
So what I keep hearing still is that it is all about the buyer. Well, it`s not and I`m not the only one who feels this way. What do the appraisels have to do with someone selling at market value. If someone is selling at market value, then the appraisel is most likely to match what they are asking. If the buyer wants to lowball under the appraisel and wanting for you to pay closing costs,etc then the buyer is being greedy. I`ve always paid my own closing costs. Why should I have to pay for anyone elses. It`s my money, not theirs.
manderly6, the seller also has to look out for his own best interest too.
manderly6, the seller also has to look out for his own best interest too.
I never said otherwise. I said they have the right to sell their house for as much as they possibly can. If that isn't looking out for their own best interest I don't know what is.
As has been said a million times, a house is only worth what someone is willing to pay for it. That's it. Not a dollar more.
I don`t think ALL sellers are selling their house at an unrealstic price. A lot of the problems right now(besides the economy) is with the buyers. A lot of them have a since of entitlement and are just plain greedy. The seller has every right to make some kind of profit.Even if it might only be 3,000. Buyers forget that they sellers need to pay the agent and other closing costs. They need to have some kind of profit from their house in order to do that. It`s not all about the buyer and I see people taking their houses off the market because they won`t go any lower than they already have. Why should people give their houses away to a greedy buyer. Especially when it is priced right.
I don't think greed has anything to do with it.
The sellers are not entitled to a profit.
They are not entitled to cover their mortgage.
They are not entitled to cover their closing costs.
They ARE entitled to sell their house for what it's worth or NOT to sell their house at all. If there is some profit in it for them, that's good. If there's not then there's not.
Remember-I am (and have been) both a buyer and a seller.
Edited to add: I don't think ALL sellers are unrealistic. But I have seen quite a few homes recently where the sellers were WAY out of whack with reality.
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Need is not part of the equation
