Priced to Sell and Show Well

The direction of pricing in our current market is no longer “priced right and looking food.”  Rather homes that are “priced to sell and show well” are compelling buyers to take action.

What I have seen a lot of in this ‘recessionary’ market is that buyers have become even more demanding than they ever were before.  They almost have an attitude of entitlement – like it is their turn to be the winners in negotiations.  They take it for granted that they are going to get a good buy and wait and they have no compunction about making low offers and standing firm.

The problem is that with all the choices and the many houses on the market these buyers are often successful with their posture, and if they are not it is not uncommon for them to wait on the sidelines for a better deal on the next one.  Sellers- do you want to wait for a better market or sell now in the market you have?  All homes for sale get “priced” in the marketplace, and the ones we see selling are priced at very compelling values.  Otherwise, there are many houses on the market that are waiting for something to change.  And the problem is that we have learned that change in this market has mostly been moving lower, not higher.

Value seems to be the primary focus of current buyers and can you blame them?  With the present fear in the financial market- everyone is acting more conservative with their investments. Property condition has become secondary to property value.  Perhaps this market has allowed buyers to seek more potential in their home’s condition rather than the appreciating value of the home.

December 31, 2009 · Filed Under Coaching for Buyers, Coaching for Sellers, First Time Home Buyers, How to Choose..., Market/Pricing Assessment, Pricing Your Home, Real Estate

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SOLD! In Five Days!

Yes!  it can still be done.  Last Tuesday The Jackson Group put a new listing on the market in Bridlemile at 4907 SW 39th, which, by Saturday, received 5 offers and sold for over asking price!

SOLD!

SOLD!

There are several bits of good news in this.

  • The new buyers are thrilled with their purchase – they have been waiting and watching for the right home to be for sale and now they can move out of an apartment (they already sold their prior home) and into the home that is the right fit for their family now.
  • The sellers are thrilled to have the deal done so that they can move on with their relocation out-of-state without delay or separation of the family waiting for a house to sell.
  • And, for those of us watching the market or selling a home, it is encouraging that there are still 4 buyers out there who are ready, willing and able to purchase a home provided the right package of features, location, condition and price are in place.

The lesson here for home sellers and brokers is that a good property, priced right and looking good, will sell in any market.  That says something about the 11,000 listings in the Portland metro area that are not sold!  Sure, sometimes there are issues about a property that make it more challenging to sell, but there is a point here that if presented well – starkling clean and professionally staged – and priced for the market - properties will sell.

Backyard- one of the highlights of the home

Backyard- one of the highlights of the home

May 18, 2009 · Filed Under Coaching for Sellers, Neighborhoods, New Jackson Group Listings, Pricing Your Home

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March Statistics for Portland area Home Sales

Here is the latest march-2009-market-action report from the RMLS. This is the monthly summary of the real estate sales statistics for our region published by the Regional Multiple Listing Service.

In February both the increase in sales and the decrease in listings relative to last month (January) had a positive influence on the amount of inventory for the Metro area. Inventory now is just over 16 ½ months, down from the record breaking high of 19.2 months in January. While this is both good news and a positive change, we are still in a market that is hugely biased in favor of buyers due to high inventory and very low demand. Until this imbalance changes we can only expect that pricing pressure will continue to be on the downside. This means that for selling listings our strategy must continue to hold to these tenets: very competitive pricing, excellent condition and showing preparation, showing convenience for buyers’ brokers and multi- focused marketing strategies for reaching all possible prospects. We also keep clients well informed by offering regular reports on the number of showings for properties and feedback from the brokers or buyers about those showings, plus the competitive picture specific to each listing.

Another report we provide is the “market analyzer” which shows market demand and inventory absorption in a specific property area and type, among other things. This report is key to understanding why pricing much be considered in terms of demand as well as property comparison. For example, we may be able to determine that a property is priced competitive to all other listings, but still have sales challenges because there simply is such light demand.

For buyers we provide all the same detailed information for the areas and specific properties that are of interest in their home search.  Knowledge is power!

Our intent is to provide legitimate statistical information that i useful to you for taking care of your plans for moving.  We know that a big decision like buying or selling a home cannot be done without the analytical information possible to help with those decisions. There are a lot of good things about our business that are emotional and subjective – we need to have personal and emotional connections to our homes. Added to that ‘emotional connection’ I welcome the ‘proof’ of statistics to help us with strategies and decisions. This is true for both buyers and sellers alike.

As always, if you have any questions or want to discuss something specifically, please give us a call at 503-416-4177.

Becky

March 23, 2009 · Filed Under Home Purchase Process in Oregon, Market/Pricing Assessment, Pricing Your Home, Sales Trends and Statistics

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