Myrtle Beach Real Estate

I am not in a hurry to sell! This is a common phrase in real estate heard when working with sellers.  The sellers want to sell their home, but don't want to give it away.  Also, sellers normally have a particular price in mind that they want their home to sell for.

What most sellers do not realize though, is when prices in real estate are declining and a high amount of inventory of homes available for sale in Myrtle Beach, SC, pricing your properly from the beginning is crucial.  What happens many times is a seller decides to list their home a few thousand dollars higher than market value to "See What Happens" and after a few months of no activity on their property we discuss improving the price.  At that time they decide to reduce, but do not reduce the price enough to make it worthwhile.

Let me give an example.  Say you have a beautiful 2 BR/2BA golf course condo that you wish to sell.  You contact me, as your Myrtle Beach Real Estate Agent to assist.  I check the comparables for the area and share that the comps for units similar to your unit are selling around $145,000 to $150,000.  Since you are a seller not in a hurry to sell and don't want to just give it away, you decide to list the home for $159,900 to just see what might happen.  As your real estate agent, I share that this is not going to help sell your home quicker, but agree to list your home at that price with a mutual understanding made that if your home does not sell in the first 60 days we will adjust the price at that time. 

After 60 days, we haven't had any offers yet, so as agreed I call to reduce the price to which you agree to change the price to $149,900 and be in line with what the market.  Only problem is that was the comparables from 60 days ago.  During that time, 3 more listings have come on the market as well as there have been two more sales making the market range now $138,000 to $143,000.

Do you see the pattern? Even though the seller is making improvements on the price of their property, they are still not getting in front of the market curve for price.  Unfortunately, until they get in front of the curve, the likelihood of their home selling is slim. The sad part about this is that what could have been set correctly in the beginning is going to cost more in the long run.  Not only has the home decreased in value more than the original range, but there have also been many more months of mortgage payments made, utility bills, and other various expenses. 

So remember, when listing your home for sale, are you in front of the curve always behind?

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Remember, if you know anyone looking to buy or sell real estate, contact me for assistance. Through my advanced real estate network, I can help anyone, anywhere in the world with their real estate needs! Our motto is "Your Satisfaction is Our Reputation!" We work hard to help our clients buy & sell real estate in Myrtle Beach and around the world.

Contact Jeremy Blanton, ABR, Relocation Specialist, REALTOR®, with Coldwell Banker Chicora Real Estate in Myrtle Beach, South Carolina at 843-449-4404 to list your property for sale or to purchase a property in Myrtle Beach, North Myrtle Beach, Conway, Murrells Inlet, and the rest of the Grand Strand area in Myrtle Beach, SC.

If you're thinking about buying a home in Myrtle Beach there are plenty of great deals in today's market and now is one of the best times to buy while interest rates remain low.

To keep up to date on the current state of the Myrtle Beach Home Market & other information about Myrtle Beach, subscribe to my blog via email here or visit online at www.myrtlebeachhomesblog.com.

Contact Jeremy or start your home search here - www.dennisgblanton.com. If email is your communication preference, email me at jeremyblanton@chicora.net.

For info on Myrtle Beach homes for sale, click here and then select the box that says Click here to search properties for sale along the Grand Strand.

Copyright © 2008 Jeremy Blanton...In Order to Sell a Home, You Must Get Ahead of the Curve!~ Advice from a Myrtle Beach Real Estate Expert.