It's the end of June already and time for the weekly update. We are making an enthused and optimistic effort to market your property. Coldwell Banker Prime Properties and Ken Armstrong are following through with the commitment we made when we partnered up with your family the day we took your listing. Great examples of our commitment are the many Internet and computer driven efforts we've engaged in, such as over 23 Internet sites, virtual tours, professional quality flyers, and other sources of communication. Of course the more you get the more we get, so we want you to get the most money possible.
Unfortuantely, your neighbors, and buyers along with the end of the tax credit are driving prices down and economists tell us that the trend will continue declining long into the future. Every day this month 7 homes sell, yet there are 45 new homes going on the market. This means inventory is stacking up. What do you think this is doing to the price of your home?
The buyers are now paying less than what the original market analysis came in at for your property We have lowered and lowered our price, but still there have been no offers. What does this mean?
It means that you are still the HIGHEST BIDDER, so far the buyers are making offers on other homes. In essence, the market place is like an auction and the number you're asking make YOU the highest bidder. Others are getting offers, however, they are priced better than we are...in the eyes of the buyer.
Let's take action now because it may take 5 years for the decline to end and the market to turn back up to where we are today. Waiting equals less than what the buyer is willing to pay today. Let's do the right thing and adjust the price today and get some offers coming in. The last reductions did increase activity, but we did not reduce it enough to get an offer or an increase in interest.
At Coldwell Banker Prime Properties we don't make the martket. We monitor the market and report to our clients the best action to take to cash in on their property for as much as possible and preserve their equity. Being up front and honest, that's what we strive for. Can we adjust the price now so we're not going to end up taking much less in the near future?
Thanks for your time. If waiting and holding out for your price is what you'd rather do, maybe waiting for that perfect buyer is your choice. We're okay with that too, we're always happy to continue working with you and the sale of your property.