Priced To Sell
November 20, 2008
In today’s volatile market, buyers expect to get a great deal when then purchase a home. It’s almost as if they want to be rewarded for being brave and credit worthy. So how do you price your home so that it’s competitive enough to get buyers looking at it, but high enough to allow the negotiating room buyers need so they can assure themselves they purchased the home at a discount?
A while back I showed a home that had been reduced for a quick sale.
It was a great deal. The buyer I was working with loved the house and made an offer (90% of list price) on the home. The offer was rejected. When I asked if the buyer would have been happy with the purchase price if the home had originally been listed higher and he’d offered the current list price. The buyer admitted that buying the home at a discount was more important than finding the right house at the right price. He absolutely could not pay full list price for the home, even though the list price was below comparable homes.
It’s difficult for sellers to understand that some of the appreciation they’ve experienced over the last few years has been wiped out. But if a seller has owned for more than about 8 years, he still should have built up enough equity to be able to price well, leave a little
room for negotiation and walk away from the table with some profit.
Compare profits to what your stock portfolio or retirement is worth, and sellers in most parts of the country are still OK. Yes, there are areas in the country where sellers are upside down in their mortgages, but how many of these sellers have owned for more than 8 years?
So if you’re a seller with enough equity to negotiate, do so with grace and gratitude. Hopefully, you’ll get just a good a deal when you go to buy your next home!
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Local Information for Pleasanton, CA
Latitude: 37.67253 -- Longitude: -121.882517
Other Area Cities:
Castro Valley
San Ramon
Pleasanton
Danville
Dublin
Diablo
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Pleasanton is a city in Alameda County, California and was incorporated in 1894. According to the city's website, the city has a total population of 67,724. Pleasanton is home to the headquarters of Safeway Inc. and the now-defunct PeopleSoft. Both Oracle and Kaiser Permanente have offices on the former PeopleSoft headquarters in Hacienda Business Park. Although Oakland is Alameda's county seat, a few county offices and a courthouse are located in Pleasanton. Additionally, the county jail is just a stone's throw away in the neighboring city of Dublin. The Alameda County Fairgrounds are located in Pleasanton, and the annual County Fair is held there during the last week of June and the first week of July. Pleasanton is sometimes referred to as "P-Town". -- Source: Wikipedia.com
California 2000 Census Population Profile Map
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Pleasanton |
California |
United States |
|---|
| Population |
63,654 |
33,871,648 |
281,421,906 |
|---|
| Median age |
36.9 |
33.3 |
35.3 |
|---|
| Median age for Male |
36.4 |
32.2 |
34 |
|---|
| Median age for Female |
37.4 |
34.4 |
36.5 |
|---|
| Households |
23,311 |
11,502,870 |
105,480,101 |
|---|
| Household population |
63,419 |
33,051,894 |
273,643,273 |
|---|
| Average household size |
2.72 |
2.87 |
2.59 |
|---|
| Families |
17,395 |
7,920,049 |
71,787,347 |
|---|
| Average family size |
3.15 |
3.43 |
3.14 |
|---|
| Housing units |
23,968 |
12,214,549 |
115,904,641 |
|---|
| Occupied units |
23,311 |
11,502,870 |
105,480,101 |
|---|
| Vacant units |
657 |
711,679 |
10,424,540 |
|---|
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Mike Jackson
Realty World Global
4847 Hopyard Rd
Pleasanton, CA 94588
VOICE: 209-556-3965
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