house pricing
Just read this article & thought how in sync it is in this market. I presently have a few listings that are not selling & although the sellers are not willing to see the reality of this downward spyralling market & reduce the price... that is the only thing that will get these places sold. It is a buyers market & these buyers are price driven.
| The Price is Wrong By: Paul Pastore Have you seen the new real estate reality television show called The Price is Wrong?
The old Price is Right was remade to reflect these tumultuous times.
Thousands of frustrated sellers batting zero (fsbos), cantankerous cancelled listings, and exhausted expireds, in addition to agitated agents vie for the right to sit in the studio audience.
Several lucky contestants will be selected to pick one of three doors on stage which indicate why their property did not sell.
In order to attract the attention of the game show host, the audience members are cleverly costumed in revolting real estate attire. Lime green shag sweaters, dresses with pet odors, and textures and colors that don't match.
Some sit in the aisles to mock poor locations. Others go without bathing for days to suggest unclean rooms. One shrewd seller came dressed as an enclosed garage. But, every guest says they are unaware of why the property remains unsold.
As the studio audience jumps, shouts, and hollers for recognition, the game show host selects one lucky contestant who will be offered a small prize, or the opportunity to open one of the three doors on stage. The door is usually selected because it contains the answer to every seller's question, "Why isn't my home selling?"
The amazing fact is that behind each and every door there is a large, colorful sign that reads: The Price is Wrong. Reluctantly, the seller realizes the lack of offers, lack of showings, missing tour feedback, buyer comments, listing agent calls, and newspaper articles.
That's what I love about real estate reality TV - It confronts the modern myth that 'a person's home is their castle'. Some things are priceless and others should be priced less.
Don't miss the next episode of The Price is Wrong. |