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 Kingman, AZ

Latitude: 35.208449 -- Longitude: -114.02573

Other Area Cities: Kingman Golden Valley

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Kingman is a city in Mohave County, Arizona, United States. The population was 20,069 at the 2000 census. The city is the county seat of Mohave CountyGR6. The nearby communities of Golden Valley and Butler bring Kingman's total population to around 40,000. Kingman, Arizona, was founded in 1882. Situated in the scenic Hualapai Valley between the Cerbat and Hualapai mountain ranges, it is known for its very modest beginnings as a simple railroad siding near Beale’s Springs in the Middleton Section along the newly-constructed route of the Atlantic and Pacific Railroad. The city of Kingman was named after Lewis Kingman who surveyed along the Atlantic and Pacific right of way between Needles and Albuquerque. Lewis Kingman supervised the building of the railroad from Winslow to Beale's Springs, which is near the present location of the city of Kingman. -- Source: Wikipedia.com

Arizona 2000 Census Population Profile Map

	Kingman	Arizona	United States
Population	20,069	5,130,632	281,421,906
Median age	39.6	34.2	35.3
Median age for Male	38.4	32.9	34
Median age for Female	40.7	35.5	36.5
Households	7,854	1,901,327	105,480,101
Household population	19,411	5,020,782	273,643,273
Average household size	2.47	2.64	2.59
Families	5,428	1,287,367	71,787,347
Average family size	2.94	3.18	3.14
Housing units	8,604	2,189,189	115,904,641
Occupied units	7,854	1,901,327	105,480,101
Vacant units	750	287,862	10,424,540

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