Thursday, September 24, 2009

Color me stupid!


Had a past client call me to do a market analysis on a home they purchased from me a year ago.  They had remodeled the entire house and were looking to sell it.  I did the market.  It was tough because the house is located in a neighborhood with a mixture of some nice homes and some that look like crack dealers live in them!  It was a tough analysis to do.  These people are friends.  They did a tremendous job remodeling the home.  My market came in around $80,000.  I explained that due to the condition of the surrounding homes, I just didn't feel it would sell for more.

Imagine my surprise when it hit the market today.  Listed by another agent.  For $124,500!  Uh oh.  What are the chances it could sell for that much?  And make me look like the most inept agent in the world?  I'll tell ya the chances!  We're talking about June Cleaver here.  The bad karma magnet.  The one who can't seem to follow any law, except for Murphy's.  It's going to happen! 

How bad of a person does it make me if I sit here and wish their home would sit on the market, month after month, price reduction after price reduction - until it sells for $80,000?  Well, in addition to being a whackjob and an agent with no feel for the market - now I am an evil woman, too.  And old.  Don't forget old.  I'm an old, washed up real estate agent!

Some one pass me the wine please. 






PS  I don't really want their home to sit on the market!  What kind of person do you people think I am?  I want it to sell for the highest price possible for them.  I'll be fine when they tell their friends not to use me because I almost cost them over $40,000, by underpricing their home.  Really.  I'll be fine. 

6 comments:

A Mom on Spin said...

You're not a bad person, you're just . . . shall we say. . . realistic! (or perhaps cuckoo!)

Becca said...

You are so not a bad person, you are honest. In this market, people need to be reasonable and realistic about what their homes are really worth. So that they are not disappointed if their home sits on the market for a long time or doesn't sell at all.

Kat said...

I wish I had a honest real estate person when we put our house on the market about 6 years ago. The guy swore we could get $150-$180 without any updates. Not only did it sit on the market for months on end, the comments from other brokers and potential buyers were embarrassing! Thus, the decision to remodel and just stay put. Trust me, I'd would have rather had the honesty than the shame...

Tracie said...

believe me i get that deep down haha take that feeling in the pit of your stomach that hopes the house doesn't sell. It makes you the kinda person that hopes for the best for your friends yet secretly hopes that they land on their ass!

Jane! said...

I'm still stunned by the fact that you could buy a totally remodeled home for even $124k.

Wishing isn't going to make it so, so relax. You can't risk too much excitement (at your age).

:oP

Jenn said...

You'll have to keep us posted--I'm willing to bet it won't sell for that. I'm sure there equally nice homes in neighborhoods where some of the houses do not look like crack dealers live there that buyers would be more interested in.