Sellers, What are Buyers Looking For?

Let me ask you a question, with today’s consumer values in the real estate market, where do we need to be positioned effectively to get your home sold?  How many of you have heard that buyers are looking for a “deal”?

Here is what happened recently on a listing in Mission Hills.  Beautiful 3 bed, 3 full bath property in South Mission Hills just off of Goldfinch.  We went in initially with the low range of 549K.  19 days passed without a single offer even though we had the 5th cheapest house in the whole zip code with 1 or 2 bedrooms more than the others.  Day 20 we reduced that to 499K and received 3 offers within 24 hours.   No good, it’s 49K less than we were asking, you say?

Well, two thoughts on that subject, now we have 3 people to negotiate with and others calling my phone off the hook.  Do you think that we’ll get an offer higher than that 499K?  Guess what, we already did.

One thing that I highly recommend is looking to see what the 30,60,and 90 day prognosisis out there if you let your home sit on the market without changing up the pix and the price.  These days, everyday that you wait to see what happens, you lose more money on your San Diego real estate.

The question is: do you do a price adjustment and leverage your negotiation skills with 3 or more buyers, or sit and wait with no one to negotiate with…?