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 Boynton Beach, FL

Latitude: 26.528099 -- Longitude: -80.076363

Other Area Cities: Boynton Beach Boca Raton Delray Beach Lake Worth Greenacres Lantana Ocean Ridge Palm Beach West Palm Beach

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It was 1894, two years before Henry Flagler built his railroad, that a former American Civil War major named Nathan S. Boynton first set eyes on the area that now bears his name. He was so impressed by the natural beauty of what he saw, the year-round sunshine and pristine beaches, that he built the famous Boynton Beach Hotel to serve as his family's summer residence. The first settlers soon realized that an unlimited assortment of fruits and vegetables thrived in the fertile climate. Cultivated pineapples, tomatoes, mangos, oranges, lemons, grapefruits and limes were packed in crates and shipped by the ton on the newly built Florida East Coast Railroad to satisfy the appetites of hungry Americans across the country. Hurricane Wilma struck Boynton Beach on Monday, October 24, 2005 causing widespread damage to homes and businesses. -- Source: Wikipedia.com

Florida 2000 Census Population Profile Map

	Boynton Beach	Florida	United States
Population	60,389	15,982,378	281,421,906
Median age	41.8	38.7	35.3
Median age for Male	40	37.3	34
Median age for Female	43.8	40.1	36.5
Households	26,210	6,337,929	105,480,101
Household population	59,298	15,593,433	273,643,273
Average household size	2.26	2.46	2.59
Families	15,684	4,210,760	71,787,347
Average family size	2.87	2.98	3.14
Housing units	30,643	7,302,947	115,904,641
Occupied units	26,210	6,337,929	105,480,101
Vacant units	4,433	965,018	10,424,540

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