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 Daytona Beach Shores, FL

Latitude: 29.171045 -- Longitude: -80.980511

Other Area Cities: Daytona Beach Shores Daytona Beach New Smyrna Beach Ormond Beach Edgewater Holly Hill Port Orange

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Daytona Beach Shores was first organized in 1960 by local business leaders convinced that a smaller community could provide better services to its residents. The City was incorporated on April 22, 1960 and is located between unincorporated Wilbur-by-the-Sea to the south and Daytona Beach to the north. In the 1970s and the 1980s, the City enjoyed a massive building program. Now about 80 percent of the residents live in high-rise condominiums that stretch along the Atlantic Ocean. In 1997, residents voted in a straw ballot to limit the height of future buildings to 12 stories. The City Council approved the height limit in 1998 A resort and retirement community, the City has no schools or manufacturing industry, but caters to visitors year-round with miniature golf courses and other types of family entertainment. -- Source: Wikipedia.com

Florida 2000 Census Population Profile Map

	Daytona Beach Shores	Florida	United States
Population	4,299	15,982,378	281,421,906
Median age	64.7	38.7	35.3
Median age for Male	64.5	37.3	34
Median age for Female	64.9	40.1	36.5
Households	2,423	6,337,929	105,480,101
Household population	4,299	15,593,433	273,643,273
Average household size	1.77	2.46	2.59
Families	1,439	4,210,760	71,787,347
Average family size	2.18	2.98	3.14
Housing units	4,385	7,302,947	115,904,641
Occupied units	2,423	6,337,929	105,480,101
Vacant units	1,962	965,018	10,424,540

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