The Business section of this morning’s RGJ featured an article by this blog’s own Diane Cohn. In the article Diane recounts two recent listing appointments and gives advice for would-be Sellers. See the entire article here.
Diane’s column will appear monthly on the Reno Gazette-Journal Sunday Business page and on RGJ.com. Congratulations on your newest hat, Diane!
smarten
Well this is interesting.
Now that we’ve educated Diane [and Guy] insofar as Reno real estate reality is concerned, it’s refreshing to read how she has implemented our suggestions in her day to day listing presentation activities with pie in the sky sellers who really “don’t need to sell.”
And now that she has a print forum in which to share the gospel [to the (non-cyber) community as a whole], I can see where this blog can become quite influential indeed.
So here’s fodor for your next article Diane. Existing home sellers [not just the ones trying to sell for $2M] must compete with new home builders. New home builders are discounting the heck out of their pricing/upgrades because they’re forced to move inventory. Those builders who don’t follow suit, end up becoming foreclosure statistics [as Mike has pointed out]. When these properties revert to their former lenders, they’re selling at 40% off of peak pricing.
All this means that the individual seller of an existing SFR must price his/her home at 45% [the extra 5% is required to make his/her listing “stand out”] off peak pricing. If not, he’s/she’s wasting his/her [and his/her agent’s] time.
So wake up Reno!
MikeZ
RE: So here’s fodor for your next article Diane.
“Fodor?” “Fodder.”
RE: RGJ
Good for you, Diane!