Comps in a neighborhood are useful yes, but if buyers are basing their offer on recent comps, then when is the "bar" raised to overcome

Asked by hogles8, 28801 Sun Feb 16, 2014

foreclosures and short sales? How long are those homeowners who paid their mortgages and kept their house in immaculate condition expected to be pulled down? If comps carry such weight, then why does anyone in their right mind buy a house, take care of it, pay the mortgage only to risk being brought down by a bad apple. It only takes one sale to turn the corner on increasing prices in a neighborhood. One Seller that stands his ground, who will not give their house away because of a foreclosure that led the flock of community sheep over the cliff. Too many Sellers are persuaded by Brokers and Buyers who want something for nothing by pointing to comps that sprung from one foreclosure or short sale. Be the one in your neighborhood that makes the change. The downward spiral started with one, the upward climb can be started by one determined Seller. By the way, I have been a Real Estate Broker since 1989 and been have sold hundreds of homes throughout my career.

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Jeff Terry, Agent, Wilmington, NC
Sun Feb 16, 2014
A property is worth as much as a buyer will pay, simple as that. The MLS is full or sellers hoping to beat the market, they are easy to recognize as their property is active month after month. Only +-6% of homes go under contract every month in my market, and we are considered a strong market nationally. The successful sellers are those who priced their property to sell, everyone else just sits on the bench. Many would like to sell high in today's market, undoubtedly with the intent of buying low. As a "buyers only agent" I have yet to meet a buyer that is looking for a fair deal, "fair deal" buyers lost their fortune 4 to 6 years ago and have to sit this market out. Even in the balloon market the majority of sellers priced their property too high, a lot of these seller's properties are the ones in foreclosure and short sale today. Sell in today's market and buy in today's market, you cannot beat the system by more than a % or two. Jeff Terry, 910-231-7814
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