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 Hendersonville, TN

Latitude: 36.300084 -- Longitude: -86.606109

Other Area Cities: Hendersonville Gallatin Goodlettsville Nashville

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Hendersonville is a large town in Sumner County, Tennessee, on Old Hickory Lake. The population was 40,620 at the 2000 census. It should not be confused with Henderson, Tennessee, nor with Henderson County, Tennessee, both of which are in West Tennessee; Hendersonville is in Middle Tennessee. Hendersonville was settled around 1784 by Daniel Smith when he began work on Rock Castle. In 1790, William Henderson, for whom the area was named, settled in. With the completion of Old Hickory Damn in 1954, the city of Hendersonville started to grow into the most populous city of Sumner County and also one of the most populous suburbs of Nashville, along with Franklin and Murfreesboro. The city now contains around 0.7% of the population of Tennessee. Hendersonville, TN is the hoome of Johnny Cash, country singer , Conway Twitty, country singer James Wilhoit, UT Vols place kicker, Roy Orbison, rock-n-roll singer,Marty Stuart,country singer and Connie Smith, country singer. -- Source: Wikipedia.com

Tennessee 2000 Census Population Profile Map

	Hendersonville	Tennessee	United States
Population	40,620	5,689,283	281,421,906
Median age	36.2	35.9	35.3
Median age for Male	34.7	34.5	34
Median age for Female	37.6	37.2	36.5
Households	15,823	2,232,905	105,480,101
Household population	40,391	5,541,337	273,643,273
Average household size	2.55	2.48	2.59
Families	11,572	1,547,835	71,787,347
Average family size	3	2.99	3.14
Housing units	16,507	2,439,443	115,904,641
Occupied units	15,823	2,232,905	105,480,101
Vacant units	684	206,538	10,424,540

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