Market Conditions in De Pere>Question Details

slwepwapw@ya…, Home Buyer in De Pere, WI

as an example, if a home is listed for $100,000 what can it expect to be sold for in the current market in this area? (DePere, Brown Co)

Asked by slwepwapw@yahoo.com, De Pere, WI Tue Dec 4, 2012

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The list price to sold price in Brown County is apx. 95-97%.
0 votes Thank Flag Link Wed Dec 5, 2012
LISTING PRICE
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.
Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”
Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)
Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.
Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
0 votes Thank Flag Link Wed Dec 5, 2012
Good Question. That will of course depend on the home. If you provide some additional details, I'm sure a local agent could give you a general idea.

Type - Ranch, Bi-Level, etc.
# of Bedrooms
# of Baths
Condition
Lot Size
Age

To name a few.

Regards,
Michael Collins- SFR, BPOR
Broker
Rock Realty Wisconsin
608-921-8536

My Trulia Blog:
http://www.trulia.com/blog/RockRealty/
0 votes Thank Flag Link Wed Dec 5, 2012
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