There is a DVD called The Secret (www.thesecret.tv). It talks about the law of attraction and how we can achieve our dreams and goals. As you can imagine this topic is very popular in the real estate business. Many sellers want to know ‘the secret’ to getting a house sold in this market.

 

The secret is having realistic expectations about pricing and timing. The secret is realizing that no sellers are happy in this market that is bloated with inventory. The average home takes 4 months to sell if it selected from the 56,000 re-sales available. This number does not include new construction.

 

My wife Nancy sold a new house this past weekend. It was a Woodside home at Tapestry-Club West. This is in the Ahwatukee/Foothills area. This is not on the outskirts of town such as Maricopa or Queen Creek. The client bought a 1970 sq ft

house for $294,990. The builder incentive was $20,000 plus $5,000 towards financing. This is a net price of $269,990 or $135 sq ft.

 

I believe the secret of selling in this market is to obtain an appraisal & realize this is the most a house will sell for at this time. If a seller is serious about selling, a better price is 5% below appraisal. If a seller wants a quick sale, the home should be priced 10% below appraisal.

 

If I wanted to sell a car, I’d go to www.KBB.com and input some data. The website would give me a high & low blue book. If there were many similar cars for sale, I would have to price the car at low to mid blue book. Imagine pricing the car above high blue book! There would be few lookers, and no offers. This is exactly what the secret of selling a house is like in this market.

 

Please call at any time to discuss specific strategies for your property.

 

Sincerely,


Paul Pastore
Remax Achievers