A Commodity in Danger of Becoming a Liability

Have you noticed that many For Sale signs (especially on the Massachusetts North Shore) appear to have put down roots on the front lawns of the homes for sale? And how about the number of signs dotting our neighborhoods? It's staggering!

In some instances, it appears that the only people that are not clear on the direction the real estate market has been going for the past 18 months are the ones with the "rooted" For Sale signs. You see, homes are still selling at a decent pace on the North Shore. But frequently it is the new listings that are accounting for the sales.

Why? . . . Because they have been priced correctly on day one, without the extra 5%+ "wiggle room" sellers traditionally added on when prices were appreciating. In fact, the very smart sellers today are often reversing that old trend and choosing to price their homes slightly BELOW what appears to be the Fair Market Value at the time they put their homes on the market. The result? Many such homes are actually receiving multiple offers (you heard correctly!) and sometimes even selling OVER asking price. The point, however, is that they are sold.

So if your home has been been lingering on the market with a rooted For Sale sign out front, perhaps it is time to speak with someone who can tell you what you need to know instead of what you want to hear. Call me and let's talk about how to avoid the danger of your home becoming a liability.

Regards,

Jay Burnham, VP
Coldwell Banker Residential Brokerage
Direct: 978.233.2828