Wow, what a headline, should bring some kind of attention from some of you, No, this is not a recipe, I guess you can tell I am from the south with this headline also. Someone told me this back probably 2 years ago, he is wiser than his years, and yet I did not listen to him. Now let's discuss the meaning. This is about GREED!!!!!! Pigs get fed, Hogs get slaughtered.If you are selling your home and are expecting a huge profit in today's market, then you are a HOG. Offensive you think? No I do not intend to be, let me break it down.
Normally in a real estate transaction, earning a profit of $15k-$30k was the norm. Operative word there WAS. Now we have heard of these huge profits ($70k +) that are to be gained and we also feel we need to earn these huge profits. We (meaning all of us) have been using our homes as ATM cash machines, to finance things we want, improvements to this home and to pay off our bills. This therefore increases your mortgage, line of credit or equity line that needs to be paid off in a sale, so therefore this decreases your "bottom-line". But keep in mind, you have been fed all along by this home and you need to really factor all of the benefits your home has provided you.
Now those of you who really want to sell, you are probably a pig and realize earning any profit in today's market is huge. And you get fed, move on with your life. Many hogs end up slaughtered! They get offers on their home and continue to decline them, they start off at $250k get offers of $200k turn them down, and a year later that very same listing is $170k, imagine if they only would of taken that offer 8 months or so ago and they would be done with the stress of trying to sell their home, they would of been fed and continued on.
Then there's the monthly payment factor, Whatever offer you get Mr.Seller, always take into account your monthly expenses on that property and times it by 7 (for 7 months, average time on market) and then take that amount minus it from the lowest fair amount you will consider to take for your property and list it at that price. Why, well either you want to sell, and get fed, or put your property on the market and be a hog and make these monthly payments, etc... and get slaughtered at the end of the day because you end up taking close to 20% lower than the number we just discussed. It is up to you, your Realtor can only advise you on listing price, you hold the key. Your professional should tell you the truth and give you facts on the comparative market analysis, but if you direct that Realtor to list at an unreasonable price, due allow that Realtor (as long as they advised you of the true market value from the beginning) an opportunity to market your property until it does get sold.
Remember this is our profession, we do it to make money, so we invest a lot in order to try to sell your home. Give us an opportunity to do our job. And to Realtor hop, (go from one Realtor to another) will only frustrate you, this is a partnership, you both are trying to go towards the same goal. As in any relationship COMMUNICATION is the key. Talk to your Realtor at least 2 times a month. Lower your price is not a sign of weakness, it is the sign of the times. And shows your looking to get fed and not slaughtered.
Normally in a real estate transaction, earning a profit of $15k-$30k was the norm. Operative word there WAS. Now we have heard of these huge profits ($70k +) that are to be gained and we also feel we need to earn these huge profits. We (meaning all of us) have been using our homes as ATM cash machines, to finance things we want, improvements to this home and to pay off our bills. This therefore increases your mortgage, line of credit or equity line that needs to be paid off in a sale, so therefore this decreases your "bottom-line". But keep in mind, you have been fed all along by this home and you need to really factor all of the benefits your home has provided you.
Now those of you who really want to sell, you are probably a pig and realize earning any profit in today's market is huge. And you get fed, move on with your life. Many hogs end up slaughtered! They get offers on their home and continue to decline them, they start off at $250k get offers of $200k turn them down, and a year later that very same listing is $170k, imagine if they only would of taken that offer 8 months or so ago and they would be done with the stress of trying to sell their home, they would of been fed and continued on.
Then there's the monthly payment factor, Whatever offer you get Mr.Seller, always take into account your monthly expenses on that property and times it by 7 (for 7 months, average time on market) and then take that amount minus it from the lowest fair amount you will consider to take for your property and list it at that price. Why, well either you want to sell, and get fed, or put your property on the market and be a hog and make these monthly payments, etc... and get slaughtered at the end of the day because you end up taking close to 20% lower than the number we just discussed. It is up to you, your Realtor can only advise you on listing price, you hold the key. Your professional should tell you the truth and give you facts on the comparative market analysis, but if you direct that Realtor to list at an unreasonable price, due allow that Realtor (as long as they advised you of the true market value from the beginning) an opportunity to market your property until it does get sold.
Remember this is our profession, we do it to make money, so we invest a lot in order to try to sell your home. Give us an opportunity to do our job. And to Realtor hop, (go from one Realtor to another) will only frustrate you, this is a partnership, you both are trying to go towards the same goal. As in any relationship COMMUNICATION is the key. Talk to your Realtor at least 2 times a month. Lower your price is not a sign of weakness, it is the sign of the times. And shows your looking to get fed and not slaughtered.
2006 REALTOR OF THE YEAR
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