The North Shore real estate market is flush with home buyers at all price ranges. How active is our North Shore market? Yesterday a really nice home in Deerfield just hit the market. We set up an appointment to get our home buyers in to the home at 4 pm. As I was opening up the lock box to enter the home, the lady that owns the home,opened the door and said "Sorry My Home Is Under Contract" Really!
Home Sellers this is a great time to sell your home. Why? Because home buyers are in Panic Mode, as homes are selling so fast. Most Homes are fetching a premium price from last year.
Please note, if your North Shore home has been on the market for more than 45 days and is not under contract, your home is way over-priced.
If you have one of these unsold homes you and your real estate agent just priced it wrong. It's time to re-evaluate and set your home up for success.
Example: Your asking $1,000,000.00 for your home. You and your agent both agree that your home is really worth $850,000.00. Most home buyers are not going to write an offer $200,000.00 below your asking price and negotiate up to the price you will sell your home at. They will just say nice home, to bad their asking so much for this house.
To get your $850,000.00 number you need a listing price at $879,950.00! You think I am wrong, no room to negotiate? Nope your wrong, and this is why.
Home Buyers are seriously racing to find a home. They have probably been in a minimum of 15-25 homes. Half these homes have sold quickly and the others are over priced like yours. Home Buyers know what they have to pay for the home they want, if your Priced Correctly, these Buyers will submit an offer the day they see your home. This what's happening, Period!
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Michael P. Zakin
Principal
G3C1 & Company
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