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Friday, September 26, 2008

But I need my price....

Those are the words I have heard several times recently. The reason: I paid a lot so I need a lot.

I have seen some homes that have been on the market for 500 to 600 days. Wow! The original list price was really high. In light of the declining market, the price is still too high.

Buyers are not stupid. Even in light of the current financial crisis, banks are not stupid.

Unfortunately, in the housing market there are times of appreciation and then there is the present. There was a time not so long ago when sellers were making money on the resale of their homes - sometimes lots of money. That was then.

If you are considering selling your Viera home please understand that your home is only worth what a ready, willing, able buyer is willing to pay. If they are paying cash, they control the transaction. If they must (and most "must") have a mortgage, the lender ultimately will have the say on the selling price (appraisal, LTV ratio and all that lender stuff).

Pricing is critical. That is not headline news, for sure. Overpricing does make the others look so much more attractive!

If your circumstances warrant selling your home at this time and you purchased that home in the past several years or so, please understand you will more than likely get less than you paid.

If you are considering selling your Viera, Rockledge or Suntree home, please give me a call or drop an email. It won't cost you a nickel to get my opinion!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. I can be reached by phone at 321-693-3850 or by email to

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