I had some out-of-state buyers in town last weekend. They were finalizing a job offer at a local technology company and had one day to find a house. We looked primarily in South Meadows (close to work, fewer commuting costs), saw a couple of places in Southwest, and a few in Northwest Suburban. The budget was $400K, and they wanted 1800+ square feet.
Out of hundreds of homes for sale, I picked all the best deals (for sellers still dwelling in the summer of 2005, that means low price for lots of square footage). We jetted through about a dozen houses, all of them decent and liveable (no junkers this time). One in particular stood out… lots of square footage for money, cute decor, very clean, great floor plan, close to everything, just a tad over $400K, and totally ready to go. In a word, VALUE. To sell your home in this market, you must offer the biggest bang for the buck. It’s that simple.
We’ll be writing an offer tomorrow. Meanwhile, hundreds of other homes that we didn’t even see will continue to languish on the market. Why? Because they’re overpriced.
