OVERPRICED HOMES DON'T SELL

A home I know quite well just came on the market in my farm area, River Bend. I met with the homeowners last spring.

At that time, the homeowners were interested in selling their townhome and buying a bigger home in nearby Naperville.

They asked me about pricing. I explained to them where there home would stand in the market.

They were hoping to sell their townhome for about $350K. At the time, it would have sold for around $310K. They were disappointed and chose not to put their home on the market.

I showed them a few homes last spring just the same...

And a few more this spring...

A few months back, they put a FSBO sign on their home. I have no problem with someone trying to sell their home by themselves. Everyone wants to save a buck, and if they want to try it, more power to them. However...

Last night while doing a little research on the MLS, I discovered their home had been put on the market by another agent. (I had to do a little extra searching. It wasn't listed in River Bend.)

The asking price, $329,900. I pause even writing that...

This is a home that will sell for no more than $280K in todays market. I am sure of that.

It makes me wonder, what the heck is the agent thinking? Do they even care if the home sells? Are they just hoping for a sign in the neighborhood??

When I read about the 11 month supply of homes on the market, I think it completely misrepresents what is going on.

Homes are selling. Selling quickly. Don't believe the statistics.

Overpriced homes don't sell.

Take it to the bank.

Ken

To buy or sell a home, call me anytime at 630-697-0536.