"sticky" home prices (4%, agents, sales, offer)

[saltzman143]

I am starting to get annoyed by all of the negative press about sellers.

And I say this as a buyer.

These people are just trying to get rid of their houses without losing money.

Sellers unwilling to lower home prices find the going sticky - Salt Lake Tribune

[the painter]

Saltzman, You are not the only one! Unfortunately it is the general popular opinion here and else where that a house should be sold at prices from 10 yrs ago with no appreciation but completed upgrades. Haven't you heard that sellers are the delusional ones and shouldn't make a profit, lol.

[buyerbuyerpantsonfire]

Originally Posted by saltzman143

I am starting to get annoyed by all of the negative press about sellers.

And I say this as a buyer.

These people are just trying to get rid of their houses without losing money.

Sellers unwilling to lower home prices find the going sticky - Salt Lake Tribune

But why wouldn't they rather have less money than no money?

[sheenie2000]

Originally Posted by the painter

Saltzman, You are not the only one! Unfortunately it is the general popular opinion here and else where that a house should be sold at prices from 10 yrs ago with no appreciation but completed upgrades. Haven't you heard that sellers are the delusional ones and shouldn't make a profit, lol.

No, we dont say that. We just want to pay a fair price. Sorry, but if the comps are selling for 200K and someone is selling it for 300K (same type of house, no upgrades, etc), I'm not willing to overpay by 100 thousand dollars. That's just dumb.
Anyway someone/everyone loses in this market. The sellers lose and the buyers lose who purchase the house knowing it'll decrease.

[NatasNJ]

This thread is an example of more sellers who refuse to price properly and nothing more. LOWER YOUR PRICE or have your house sit.

No one is promised a PROFIT when selling a house. Get over it and if you want to SELL lower the price. Not rocket science people.

[crazyma]

oh Lordy here we go again

[the painter]

Natas, If the houses that are price at or below the SOLD COMPS and upgraded are not priced good enough than what is? But I would really like to know why you always come across so ugly? Did you not get the house of dreams for 1990 price or some other crazy low ball price?

[theS5]

Natas makes a valid point. I really comes down to wanting to sell or needing to sell. Anyone can drop a line in the water with no bait and hope that a fish swims by and snags itself. Alternatively, you could drop a line in with some really tasty bait and even the fish that are not so hungry will not be able to resist.
I, for one, am tired of hearing people moan about their house being priced correctly but nobody will look at it or that they have been lowballed. Real estate is a market. In the market, goods and services are priced based on supply and demand. Right now, supply is very high and demand is fairly low. Prices will have to come down to bring the market into balance. An unfortunate reality is that many will lose their home because they are underwater without the funds to bring to closing.
Let's please take of the rose colored glasses. For many, declining home prices are terrible, but for the economy as a whole, it is necessary, positive and inevitable.

[NatasNJ]

Originally Posted by the painter

Natas, If the houses that are price at or below the SOLD COMPS and upgraded are not priced good enough than what is? But I would really like to know why you always come across so ugly? Did you not get the house of dreams for 1990 price or some other crazy low ball price?

I don't try to come off as ugly but I have gotten sick of the whiners on this board especially when it is pretty cut and dry. Price dictates sales. Lower it ENOUGH and someone will buy it. Sure I feel sorry for the people who did everything right and saved a down payment and bought a house at the peak and are screwed now and need to sell. That sucks. Hell I got hit in it as well. Oh well. But there are so many self righteous owners/sellers and agents that act like real estate profit is a god given right.

I don't know what price you need to list a house to get it sold in every market. If you list it at $x and it is NOT selling then LOWER the price. Upgrades may or may not be justified reasons (especially today) to have a higher price. If you don't need to sell then don't but don't expect prices to rise in the next year and are only going to drop more in most locales.

I sold in this horrible market and I am GLAD to have started my house list price BELOW what I bought it for 2 years prior and lowered it twice within 4 months to get action on it. I did what I HAD to to sell the house. I now look in this market and still see 80% of listings REFUSING to even LIST their price even CLOSE to comps. Even after $30k-$50k in price drops still $25k over the last comps. Sick of it.

I have made 1 offer since in the market since last fall. My final offer was $14k ($355k) off the actual sale price 3 months later. Sold for $369k. So was I low balling? 4% or so off actual sold? Sounds within reason to me. And the original list price was $429k. So they were overpriced by $60k.

[kevcrawford]

Originally Posted by NatasNJ

This thread is an example of more sellers who refuse to price properly and nothing more. LOWER YOUR PRICE or have your house sit.

No one is promised a PROFIT when selling a house. Get over it and if you want to SELL lower the price. Not rocket science people.

And no buyer is promised a steal of a deal when buying a house.

Buyers are in the mindset that they expect the seller to take a loss for them because, well darn is, that's just what the market says they should do.

Sellers don't lose money until they sell, so why do buyers EXPECT them to?