Costly Mistakes Greedy Sellers Make
Greedy Sellers make costly mistakes
I see it every day. Our Park City Market is looking good. Really good. Homeowners decide it's time to take their equity out of their property and move up ..or down. Awesome idea, Right?
Here is where the problem comes in - they see the home down the street sold for $xxxx. Wow. That's a great price. Mine must be worth $xxxx plus another $100,000. Maybe, but probably not.
I am all for pushing the limits so sellers leave NO money on the table...
I am all for pushing the limits so sellers leave no money on the table, but there are limits to what the buyers will swallow. Say a home on your street of similar size, similar lot size was recently upgraded and sold for $500 per sq ft. about a month ago. The market continues to increase, and your seller thinks that even though their home is not quite as nice and maybe their location is not quite as good, they want to list theirs at $600 per sq ft. Really?
Most buyers have been watching the market via the internet or in person and know exactly what the house down the street looked like. They will have a hard time paying much more for your home even if it is of the exact same quality let alone if it is lesser quality.
Don't make this costly mistake. Remember the old "Bird in the hand" adage? In theory this buyer is already excited about your neighborhood or they wouldn't be watching it. Buyers will wait until a better value comes along and grab that one. Don't get greedy and they will realize yours is a great opportunity and not an overpriced mistake.
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