[5-DayForum] Advice needed on pricing

[Nick Ellsmore]

Bill

 

My thinking was to give $100k off the appraisal price. I have a 30 day
appraisal that says it is worth $650k, so I figured wanting to get only
$550k would be ok. That would be a good deal for someone, being $100k
off the price. So was going to start the bidding / ads at 275k.

 

Regards

 

Nick

 

________________________________

From: Bill Effros [mailto:bill at effros.com] 
Sent: Friday, August 31, 2007 10:19 AM
To: How To Sell Your Home in 5-Days
Subject: Re: [5-DayForum] Advice needed on pricing

 

Nick,

Home prices are taking a hard fall everywhere, but we heard about it
first in Florida.

You are not getting responses because you are not going to get anywhere
near $550,000, and $275,000 doesn't sound like such a great deal.

Pull the plug on this, and decide what you are going to do.

I hate to always be the tough love guy, but I call them as I see them.

There are plenty of people on this list in the same boat you find
yourself.  Everyone is floundering about what to do next.  Nobody knows
the answer, but I think it would help us all if we discuss it openly.

There is no point in running a 5-Day Sale just to find out what we
already know.  The 5-Day Method will tell you the market price of your
home in 5-Days.  Right now the market is terrible, but we have known
that for 6 months, the rest of the world is just finding out.

The "quick fixes" proposed by legislators are not going to work.  The
government can't control the market.  5-Day Sellers can put their toe in
the water any time they like, but we already know our homes are not
going to sell for the amount we would like to get, and things are likely
to get worse before they get better.

Let us know what you're thinking, and we'll let you know what we're
thinking,

Bill Effros





Nick Ellsmore wrote: 

Hi Bill

 

Thanks for the quick reply.

 

I am in Sarasota Florida, yes the pocket of houses does have a name. The
Oaks, at Woodland Park.

 

Regards

 

Nick

 

________________________________

From: Bill Effros [mailto:bill at effros.com] 
Sent: Thursday, August 30, 2007 10:43 PM
To: How To Sell Your Home in 5-Days
Subject: Re: [5-DayForum] Advice needed on pricing

 

Nick,

Where are you?  Please provide more detail.  Does the pocket of
expensive houses have a name?  Did you use it?

Bill Effros



Nick Ellsmore wrote: 

Hello

 

I have a house that has an appraisal at $650k, that I am hoping to sell
for $550k. The problem I have is that this house is in a small pocket of
expensive houses, and so when I advertise it for sale at $275k (50% of
550k), people are thinking it is on one of the surrounding streets,
which only sell for that amount anyway. So my ad is not attracting
enough people because they don't think $275k is particularly good price.
However if they knew it was in this street then they would know it was a
good price.

 

Your help and comments are appreciated.

 

Regards

 

Nick

 

 

 

 
 
 



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