Foreclosure in 89074>Question Details

Edwin D. and…, Home Seller in 92887

the price keepsw droping in henderson.How do I hit the right price?

Asked by Edwin D. and Cgeryl Robertson, 92887 Wed Jun 13, 2007

How do I price, in a down market?

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The time has come! This is the moment everyone has been waiting for. Buy, buy, buy! Buy like you never have before. I am telling you this because the market is going to rise again. With all the job growth with the casino's bringing over tens of thousands of extra jobs.... plus the interest rates have been slashed again! There is no better time than NOW! Mark my words..... if you wait another year you are going to regret it.....
1 vote Thank Flag Link Fri Dec 21, 2007
Your answers are not up to date like your website,its 2012 not 2007
0 votes Thank Flag Link Thu Mar 29, 2012
That was asked in 2007. I think its a bit late of a response.
0 votes Thank Flag Link Sun Jan 1, 2012
Great question. Quick answer. You buy now and you hit it at the bottom. That's quite right to me. For seller's get a professional Realtor to do a CMA on your property to obtain a market value. Call me I'm great to work with, look at my reviews:)
Beth Mitro
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0 votes Thank Flag Link Sat Dec 31, 2011
How could it go any lower?? homes are out there at $55 sq ft !!! Go back about 4 years ago before all this foreclosure mess even started.Homes were going about $75 sq ft. To make it short, go back to the 4 year ago price, and use that for your guide.Many homes on my web site under $ 75 sq ft for you to compare
0 votes Thank Flag Link Thu Dec 18, 2008
simple answer is try to price your home less than the most current closing in your area. You need to create value for today's buyer. Please contact me for my selling plan.

Thank you,
Dave Grant
0 votes Thank Flag Link Tue Feb 5, 2008
From all I've seen...If your buying wait about a year at it should be close to the bottom. Even new homes from the major builders have been slashing prices. I've seen a 2000 sf, many upgrades for under $280K. Two years previous this house would of sold for $350K. It takes the resales a little longer as they come to grips with a falling market.

If your selling...price it lower than the last sales AND lower than the comps on the market and cross your fingers. Remember in a buyer's market to imagine that you are the buyer not the seller and then price accordingly. Do not rely on websites and other sites for information as they are sometimes a year behind in pricing.
0 votes Thank Flag Link Mon Nov 26, 2007
Hi Edwin. Please consider some other factors too: Your property will be competing with foreclosures, "short sales," and new homes, all of which are providing downward pressure on regular old resale properties. For example, last month I got one of my clients a brand new home in Henderson, 1500 sf, all apliances, many upgrades for $220k and the builder is paying the closing costs.

If you must sell your home, you should price it lower than the last sales AND lower than any comparable homes on the market. Put yourself in the buyer's shoes: If you see a house that looks great on paper priced at $299k and a similar house at $269k, which one are you going to look at first? If you look at both and they are both equally desireable, which one do you think will get the offer first. The most important thing in a buyer's market is to imagine that you are the buyer not the seller and then price accordingly.

You can get a pricing idea at (run by me).

0 votes Thank Flag Link Wed Aug 15, 2007
Edwin, if you would like to get the value of your home to give you an idea of what it's worth, let me know. I would be happy to do a Comparative Market Analysis on it and give you a true amount of the value. I am a Henderson professional being that I focus in that area more than anywhere else in town.
0 votes Thank Flag Link Tue Aug 14, 2007
Pricing may depend on the location in Henderson. Some homes in certain henderson communities are selling faster than homes in other communities. Condition, detail, upgrades and ammenities are also important. Your home not only should be priced well, but it should show beautifully! Unless you're close to being upside-down and need to sell desparately, I would price your house for what it's worth. Even in this down market, someone looking for a dream home will still pay what your home is worth! Don't sell yourself short, but don't overprice it. Checking the sold comps and your competition of homes currently on the market is extremely important. Do not price your home higher than an exact comp taht showes as well as yours (sq. ft, lot size, ammenities, upgrades, etc.). And even though foreclosures, bank owned properties and short sales are bringing down values, you do not have to price your home at the same price an "as-is", torn apart, bank repo sold for. The buyer of that home is more than likely investing a few grand to bring it to the condition of your gem! Have some pride of ownership, but don't be stubborn or greety in this market. The bottom line you really want to sell it!

If so...price it right! Do your homework (I suppose, just as you are now). I hope this helps, Edwin.
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0 votes Thank Flag Link Tue Jul 31, 2007
Hi Edwin - The Henderson real estate market is a very challenging one for sellers right now. When pricing your home it's important to look at recent Sold prices instead of what others are currently asking. I also feel strongly that you need to be one of the 2-3 lowest priced homes relative to the comparables in your neighborhood. It's much better to get an offer which at least gives you a chance to negotiate, rather than pricing your home a little too high and then 'chasing' the price downward with the market.
0 votes Thank Flag Link Sat Jun 16, 2007
I don't know how the Henderson market is right now.. but I can tell you that chasing a down market will cost you lots of money in the long run.. What you need to do is make the market.. that is take a look at what's out there.. realistically compare your property to others on the market and price your home below them... it might sound crazy and seem as if you will lose money but it's really a smart strategy when you figure out how much you are spending on a monthly basis.. let's say your PITI is $2500 a month and you need to move .. if your home stays on the market 6 months that's $15,000 it costs you.. If you drop your price by $10,000 and it sells fast you are ahead of the game..especially if you need to relocate. You might want to contact John Novak.. he is a great agent in your area See the link below..
0 votes Thank Flag Link Thu Jun 14, 2007
Kaye Thomas, Real Estate Pro in Manhattan Beach, CA
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