As realtors you will all thank me for attempting this subject, as sellers you will scratch your heads in awe, and as buyers you will want to buy me dinner.
Many home sellers in this market feel that their house is already undervalued compared to the market we had a few years back. And as such they should not really lower their price because they are already taking a bath. Lets explore a few realities, first the market we had a few years ago was not reality, and as we are all witnessing a and suffering from today, we now can all rest assured and agree that it was a fictitious market which lead many down the road of foreclosures and bankruptcy. Now that we have that straight lets get the next fact which is a major one out of the way. I am taking a bath on my house, most homeowners in Staten Island and in NYC in general who are looking to sell most likely owned their homes for quite a number of years, thus the bath they are taking is in gains and not actual losses unlike the unfortunate who have to sell their homes in short sales or simply opt for bankruptcy.
Now that we have that out of the way lets concentrate on your home in particular, Your home yes the one with the granite counter tops, gold faucets, brick pavers and the best fence in the neighborhood. That is why everyone should pay top dollar for it. Wrong!!! Let’s have a reality check. And have a little role reversal. If you were the buyer would you want to buy the best house on the block and pay top dollar or would you want the worst house on the block and pay nothing and watch your investment grow as you customize your house to your taste? It does not take a rocket scientist to answer this one, mostly everyone who buys a house buys it expecting it to be the best investment they ever made, and so which house has more room for growing their investment???
Now you’re getting my drift….
Please work with your realtor and come to a happy medium, should you have any questions or would like a no obligation consultation from my office, do not hesitate to contact me at 917-488-4949 direct.