Asked by Jf, Valley, AL • Tue Jun 17, 2008
I have a lake front property in the Lake of the Pines, in Auburn, California. Local realtors say to price it at a price that I know does not account for 30% drop in our area since 2006. They also say expect for it to be on market 18 months Their explanation is that there are no buyers anyway, so price does not matter. Many lake fronts in LOP have sat on market for many months and remain unsold, yet they want to price mine using those other listings as a measure for the asking price and/or fair value. Isn't the market value what someone will pay NOW, not in 18 mos? I want to get as much as possible, but i cannot get an answer on market value that makes sense. I am wrong about drop in value, or how to set present market value? I have heard that if you price a property too high, the price you eventually receive will actually be lower than if you priced it at the market to begin with. Any advice--especially from those familiar with the area. Thanks
Real Estate in Auburn
Popular Categories in Auburn
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!