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 Green Valley, AZ

Latitude: 31.855617 -- Longitude: -111.000077

Other Area Cities: Green Valley Sahuarita

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Green Valley is located at 31°51'20?N, 111°0'0?W (31.855617, -111.000077)GR1. According to the United States Census Bureau, the CDP has a total area of 68.0 km² (26.3 mi²). 68.0 km² (26.2 mi²) of it is land and 0.1 km² (0.04 mi²) of it (0.08%) is water. Green Valley is twenty miles south of Tucson and 40 miles north of Nogales, Sonora, Mexico. Surrounded by copper mines, and near the hiking and birding areas of the Santa Rita Mountains, Green Valley is now an unincorporated retirement community. In 2005 Green Valley was the host of the SAE mini Baja100 competition. Mini Baja are custom VTT made by students, in this case there were about 60 teams from various universities, including some from Canada. ETS- Ecole de technologie Superieure, from Montreal, Canada, won the competition. -- Source: Wikipedia.com

Arizona 2000 Census Population Profile Map

	Green Valley	Arizona	United States
Population	17,283	5,130,632	281,421,906
Median age	72.2	34.2	35.3
Median age for Male	72.6	32.9	34
Median age for Female	71.8	35.5	36.5
Households	9,995	1,901,327	105,480,101
Household population	17,075	5,020,782	273,643,273
Average household size	1.71	2.64	2.59
Families	6,294	1,287,367	71,787,347
Average family size	2.07	3.18	3.14
Housing units	13,263	2,189,189	115,904,641
Occupied units	9,995	1,901,327	105,480,101
Vacant units	3,268	287,862	10,424,540

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