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 Yukon, OK

Latitude: 35.502255 -- Longitude: -97.74912

Other Area Cities: Yukon Bethany El Reno Warr Acres

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Yukon is a suburban city in Canadian County, Oklahoma and is part of the Oklahoma City Metropolitan Area. As of 2005, the city is estimated to have a total population of 22,032. Yukon is the hometown of superstar country singer Garth Brooks, actor Dale Robertson ,the red dirt band Cross Canadian Ragweed ,and Yukon's favorite son Jeff Wootton, the son of Hall of fame coach Ivan and Debbie Wootton. In 1949, Yukon garnered national media attention because of the plight of Grady the Cow.The Czech Hall, a national and state historic site, is devoted to preserving Czech customs, heritage, and culture. Community events include the Czech Festival in October, and the Chisholm Trail Festival in June. Yukon's sister city is Krnov in the Czech Republic. -- Source: Wikipedia.com

Oklahoma 2000 Census Population Profile Map

	Yukon	Oklahoma	United States
Population	21,043	3,450,654	281,421,906
Median age	36.1	35.5	35.3
Median age for Male	34.8	33.9	34
Median age for Female	37.2	36.9	36.5
Households	7,830	1,342,293	105,480,101
Household population	20,724	3,338,279	273,643,273
Average household size	2.65	2.49	2.59
Families	5,993	921,750	71,787,347
Average family size	3.06	3.02	3.14
Housing units	8,135	1,514,400	115,904,641
Occupied units	7,830	1,342,293	105,480,101
Vacant units	305	172,107	10,424,540

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