My New Blog

Right now things are tough out there.  Houses are languishing on the market and not selling with yet another price reduction.  West Chester, Phoenixville, and Chester County in general are good markets and there certainly isn't blood in the streets.  I also haven't experienced any desperate people in the high risk mortgages we have been hearing about. 

So what is going on here?  Well, people have gotten too greedy.  Sellers and Buyers to be fair.  Sellers are looking at being the next high price in their neighborhood or wanting top dollar for staying 2 years in the house and not lifting a finger.  This is how it was for Sellers here for 5 years.  We have trained them well and we as agents need to take some responsibility for it.  Buyers have heard the press.  They think everyone is in over their head and they need to sell now.  I can't blame them.  If I wasn't busy selling real estate at 5pm, I might be listening to the nightly news and thinking the same thing.   Some agents even encouraging 15% under asking price, verbal, offers.  These usually don't fly in any market. 

So, what can you do as a seller.  First of all, get a good Realtor that is willing to give you the right comps from your neighborhood.  Make sure your house is updated and neutral.  Make sure all the little things that need to be repaired are done.  Also the big things.  Then take a look and go right for the last comp in the neighborhood.  I know, your house is nicer and fixed up and you did spend all weekend last month painting the living room.  Maybe you did a kitchen upgrade or bathroom.  This is all good stuff. 

The good news is your home is better than the last that sold at $xxx,xxx.  The other good news is that this is now par for the course.  Buyers right now have a lot to choose from.  So, make sure your home is priced better, shows better, and is updated and ready to go. 

Buyers, you must be willing and ready to buy a clean, maintained and priced right home.  Right now the best properties are even getting some bidding wars going. (I have had 3 for my Sellers in the last month)  If you want 10% off, you are likely to spend 8% of that or more on getting the house repaired or updated.  If you want a good home, recognize the deal and go for it.  You can get inclusions and inspections, but the prices are not dropping through the floor. So, get out there and buy a good house for a good price.

In a nutshell, It is time to eat your neighbors lunch.  Take your winnings and move on up, down, or out.  With this simple philosophy, you will make it happen.

My name is Kirk R. Simmon and I am a real estate agent with RE/MAX Main Line.  My expertise is in West Chester Homes and my further specialization is in the townhouse market. 

Come back and see what I have to say.  Also feel free to ask me questions @ info@kirksimmon.com