Myrtle Beach Real Estate by Mirela

Reduced, But Not Stupid or Desperate...

How do you price properties in this market? 

 

When a seller tells you:  "Make this property fly!" how exactly are you going to do that?

 

With absorption rates of 2 to 10 years in most of our markets, how exactly do you price property in order to sell it fast? 

 

Say a property has been unsuccessfully marketed by another agent at $ 500,000, in an area where the absorption rate is over 3 years.  You pull the current comps and they indicate a value of $ 370-$ 380K.  The seller says:  "Make it fly!  I don't care how you price it; just price it so you can sell it within 60 days, and then JUST DO IT!" 

 

What would you do?  How would you price this property?

 

Myrtle Beach Homes by Mirela Monte                                      Perpetual Optimist!

      You Tube      

 

 

Comment balloon 17 commentsMirela Monte • September 29 2008 11:00PM
Reduced, But Not Stupid or Desperate…
share
How do you price properties in this market? When a seller tells you: "Make this property fly! " how exactly are you going to do that? With absorption rates of 2 to 10 years in most of our markets, how… more
The Crystal Ball: Everything you want to know about the future of…
share
If that was your original post from last year, you read the future! That is exactly where we are today, below market value. Can you also tell us what the next phase will be? And when we can expect it? Pull out your crystal ball… we… more
Waterway 3 & 4 BDR. Condos Sold in 2008 in the Myrtle Beach Area:
share
Waterway 3 & 4 BDR. CONDO/TOWNHOUSE - Sold Jan 1-Sept 25, 2008 CONDO/TOWNHOUSE Summary Statistics … more
Desperate Ads for Desperate Times…
share
The Ads for Real Estate have had a dramatic "Make-over" lately. "Hurry; this won't last long! " has been replaced with: Priced at sacrifice level… Seller must sacrifice… .. more
REO Pain… Mr. Banker Stop Hiring Inept Agents!
share
This spring I had a short sale listing. I had not one, but a total of four offers on the property ranging in price from $130, 000 all the way to $155, 000. The $ 155, 000 was a cash offer with absolutely NO contingencies, positioned to close… more
Mr. GOOGLE, Say It Isn't So!
share
"Real Estate in Myrtle Beach NC" is a phrase I just started employing in my web optimization. Myrtle Beach is located in SC, so why do I pay for web optimization of that erroneous phrase? A: Because more people search the… more
Top Three Myths about Credit… Revealed! (Part 3)
share
I wanted to continue with the Top Three Myths in the Top Ten series that I will be blogging about to inform both customers and my colleagues about to help dispel some of the myths about credit. Improving and making the best of your credit rating… more
Highlights of a Post, or What I've Learnt by Blogging; HOW TO SELL…
share
The best way to learn is to teach, or… To blog and then read the comments… Sometimes the comments so enhance the original blog as to increase its value exponentially. This is the case with my latest post: Listing Agents in La-La… more
The Hope Ball Goes to…
share
Last week I received this whimsical globe called "The Hope Ball" from my "AR Twin", as I call him, Mr. Chuck Willman. If I had a say in it and I was to be born again as a man, I would choose to be either George Clooney,… more
Listing Agents in La-La Land…
share
*Note: This was one of my very first blogs, posted on AR in October of last year. In light of the current market, this advice is right on the money. By the way, the condo that garnered $ 174K when I wrote this article is no longer worth 174K. I… more
Adding Forms To Your Blog Post
share
Here is yet another Brad Golden Nugget… Enjoy! How do you create a lead sheet, a contact form, a questionnaire, a call to action in your post? Google Docs allows you to not only create private forms, spreadsheets, and presentations, now you can… more
Want your Mortgage Loan to close fast, here's a few tips.
share
How fast your loan closes is often up to you. I tell folks two things these days and both can result in great opportunity. There is an abundance of inventory (houses) in most markets and the money (interest rates) is still cheap. That said, Lenders… more
It's Free, It's Fun, It's Your Credit Report?
share
Thank you Jason for this excellent reminder! There are some very good points here. Enjoy! To say your credit history & score is HUGE these days may be a borderline understatement For purposes of my experience, I'll concentrate on how credit… more
Sharing Live Video from your Phone, What's next?
share
THANK YOU KAREN FOR THIS ILLUMINATING POST! For all you techies out there. I am not a techie but I do know a good concept when I see one. And new concepts excite me. I am always on the lookout for the next great… more
E&O Forum: Please give us your two cents' worth!
share
Reading about E&O Insurance is about as exciting as doing your taxes or getting a root canal, yet with the increasing number of "distressed" sales (short sales, foreclosures, REO's), the Real Estate field will become a lot more… more
Spend $14 to save hundreds of $
share
Here is an interesting tip from one of our Green members. Would you spend $14 to save yourself Hundreds of $ over the course of a year. Here's how… After recently completing the EcoBroker Designation I became increasingly interested in… more
Happy Go Lucky
share
With all the gloom and doom extant today, we need to ensure healthy portions of Optimism on a daily basis. In the midst of October, a lovely movie is set to open, a fresh infusion of "Right Attitude Coaching". … more
5 blogs about blogging - Linkroll #2
share
Here is a blog about what else… but blogging… Courtesy of Zoltan, the genius of RealBird. com Second issue of my Linkroll. See Linkroll #1 for my favorite tech blogs This time, I list some great blogs about blogging, some… more
All You Ever Wanted To Know About Marketing, But Were Afraid To Ask:
share
THIS IS A TREASURE TROVE OF MARKETING IDEAS In this market you can't afford to be complacent. Inserting a listing into the MLS and waiting for it to sell is so 2005! You have to really work at it now. Marketing is more important than… more
What is the Difference between a Pre-Approval and a Pre-Qualification?
share
Jennifer Allan posted a blog and in the comments we discussed the above subject. She asked me to explain the difference between a Pre- Approval or a Pre-Qualification. I know there has been a lot of chat in the rain about deals falling apart… more