Whats Up With These Realtors

[Smiling JOe]

"All things being equal" -- does this mean that the lot which sold for $239K, was equal to all the other lots, in all respects? If so, what was the unusual circumstances regarding the extremely high sales price?

 

[Busta Hustle]

Yes to your first question and there are no unusual circumstances.

 

[flyforfun]

Regarding Realtors and the SoWal real estate market in general: if you absolutely don't have to sell, you will likely be very happy you didn't sell in just a few years. There has always been, and always will be, a very strong allure to the SoWal area. Once the PCB new airport opens, there will be easier access from major cities like Chicago, DC, NYC which will increase awareness and appreciation for this area, driving demand back into the market. Supply growth has slowed significantly, although there are still some large condo developments underway.

If you absolutely must sell, you should not depend upon a realtor to tell you where to price your property. The realtor will be torn between market reality, keeping you smiling, and putting a price on it that could generate a commission. Blaming a realtor for your property not selling is ridiculous. It just means that during this given time your property is not priced according to what the market will bring, or you have an average property with nothing that distinguishes it from others in a special way. Your price will have to be compelling OR the property must be very desirable or special to set it apart from the other competitively priced properties.

No, I am not a realtor. I bought my first SoWal property 6 years ago, the second 4 years ago, the 3rd 6 months ago. If I had more money I would be buying today.

Way to go! Absolutely best responce on this string....could not have said it better myself!

 

[flyforfun]

if you absolutely don't have to sell, you will likely be very happy you didn't sell in just a few years. There has always been, and always will be, a very strong allure to the SoWal area. .

Seagroving, you hit the nail on the head with this one. Don't sell if you don't need to, and just enjoy or rent your property. This market always comes back strong.

 

[Smiling JOe]

Yes to your first question and there are no unusual circumstances.

In this market, with a difference of sales price of that much, there is definitely an unusual circumstance. I would take that into consideration.

 

[Busta Hustle]

let's say the unusual circumstance was an uninformed buyer.

 

[Smiling JOe]

let's say the unusual circumstance was an uninformed buyer.

Perhaps they should have consulted a Realtor. :funn:

If it was an uniformed buyer, that would still be a fluke sale in my opinion, and it would carry nominal weight as compared to the majority of sales. It will certainly help comps for the appraisal.

 

[2bfabian]

If I am to understand you correctly if you want your property to be priced low come see you. NO THANKS.

 

[Babyblue]

Apparently they're buying the industry rhetoric that RE has hit bottom and is now on its way up.

Get Balloons.....Get Busy.

.

I have seen several balloon violations of late. Deflated, on the ground etc. But what I have seen is several large transactions.

 

[Babyblue]

Seagroving, you hit the nail on the head with this one. Don't sell if you don't need to, and just enjoy or rent your property. This market always comes back strong.

What type of jet is that?