Pricng Non Distressed Homes!

I have in the last 2 weeks seen an increase from property owners asking "what can I sell my house for?". These are not distressed sellers. They are wanting to sell and move up! They realize that there are good buys out there and they want to be able to get in on the action. This is GOOD news!

The thing that they have to understand is their property is down 25% but so isn't the higher market down 25%. They will gain more on the top market than they lose on the lower end.

Example for their property they want to sell. Price was at the top and has gone down 25% $600,000 -25%=$450,000 lost $150,000 but at the same time what they want to buy has gone down the same 25% $1,000,000- 25% =$750,000 lost $250,000. There is the potentional to gain $100,000.

The problem is still making them realize that their property isn't worth what they think it is. I have done CMA on 3 properties this week and the owners say I can't sell if that is all I'm going to get. The second problem is agents willing to give them the higher price to get the listing and in all honesty I can't be that much off in price. I am doing the pricing same tract, same size, 3 months time frame and close in condition to come up with price and another agent gives them a price $30,000 more. WHY??? I told them sure you can put it on the market at that price but you will probably sell at the price I gave you. Yes, you can get more for your property than the REOs or short sales because buyers will pay more to get a deal that doesn't have a third party calling the shots. They will not over pay, no matter what! Adding $50,000 to what an REO sold for 2 weeks ago isn't going to cut it. The REO was the same model with a larger lot. I want to be honest and fair when pricing because going though trying to sell isn't easy on the seller. Why make them go though that if they can't sell for what they need to make the move up?

I will keep them informed of the price changes and be available if they decide that I was only being realistic and hopefully I don't lose to an agent giving them a price that won't sell their house.