Edgewood, WA Real Estate Blog

Like a lot of places, here in Edgewood a lot of sellers and a lot of agents seem to be having a hard time moving from fantasy land to reality.

I don’t know if it’s sellers unwilling to grasp that yesterday’s sales prices were available yesterday, and/or if their agents don’t know what’s going on… and, more importantly, what’s coming down the pipe.

I continue to see homes that have been on the market for hundreds of days being re-listed with a yet another new listing agent. I guess hope springs external. Sometimes there’s a price reduction, but more often than not, not sufficient get ahead of the (sales price) curve.

I know of one home that’s been on the market for nearly 500 days. Over that period they’ve dropped their price almost $100K. What were their listing agents thinking/doing? They could have sold it a long time ago at much more than it’s listed for today if they had priced it appropriately from the “get-go” (or anywhere along the line).

Better to walk away from a listing than dis-serve a seller that way.

On the flip side, I see an agent who purchased a new home one year ago who just listed it for sale… at $100K less than purchased. Think that agent “gets it”?

Phil Hover at the Boise Real Estate Blog covered the subject yesterday in a post that reflects my sentiments.

With proper analysis and good marketing you can sell your home in today’s market. Or you can remain in fantasy land and add it to some agent’s sea shell collection of listings.