Char and Jim Koch-Realtors-Strongsville,Ohio

I had an interesting phone conversation today, I'm sure you can figure out where I'm going with this.

Let me add that I have great sellers, they have worked hard to stage their homes, keep their properties immaculate and are accommodating on impromptu showings! Do they like lowering their prices? NO. Do they like what they see happening in the market? NO

And let me also say this is was not a phone conversation with one of my sellers, It was a conversation from a seller who was looking to change agents.

Rough conversation. But here's the crux of it: I'm not getting any showings, the showings I do have are not producing an offer, and my agent wants me to reduce my price.

So let's say we can talk about a price reduction if I take the listing, the next question the seller asks is can you cut your commission if I lower the price?

Wait a minute you want full service, but you want to pay me less than the agent you are dissatisfied with?

Next question, can you take a 3 month listing? There is 8 months of inventory currently on the market in this area. If the house is prced ahead of the market( meaning slightly below fair market, it mght sell quickly but this isn't what most sellers want to hear)

I spend a decent amount of money during the fist month of a listing. So do most agents! Post cards, flyers, broker's opens, ads for Opens.....

There are a lot of hungry agents, I'm one of them! I want to do a good job. I'll be full service to my sellers but their loyalty means not only listening to my professional advice ( and I have no problem with any of them doing some research) but why would you ask me to take your listing and give me time to do my job ( ie sell your home) or expect me to pour my money into the listing and then take it away from me or any good realtor because you won't do the logical thing in reducing your price?

Working together, a sale is possible!

For more real estate information, please visit our website: www.kochsrealestate.com

We look forward to hearing from you!

Char and Jim Koch

Sad to say, most sellers today are either in disbelief or denial that their homes can not sell at fair market value or for the values that have been set by their county auditors ( or their own misconception of what is happening in today's market).

The selles who bought their homes 2 or 3 years ago are finding that those pricesare today's prices or in some cases HIGHER than today's prices. Sellers are still in shock when they see a seller's net sheet and find out they will have to either bring money to the table in order to close their deal because they haven't owned the home long enough to have equity in it. And this may be the case for sellers who have owned their home up to 8-10 year too.

Some of these " potential" sellers decide to sit tight and wait for the market to settle. Which may be something they are not thinking thru........it's going to settle all right, but we have no idea when it's going to go up until it starts moving upward.

Unfortunately, sitting tight may not get a seller higher price a couple of years from now, our sellers may just be more accepting of the price they will have to settle on.

If we listen to the market's rumblings we see that the increase in reo properties and short sales is continue to dirve prices down. As realtors we see plenty of reo's and short sales in poor condition, but we can no longer generalize or think that our buyers will be extremely disappointed when they preview these homes. On the contrary, this market is not only increasing in size but also in popularity with our buyers. It's a shame that someone who is losing their home because of loss of a job, overextending themselves, medical problems or personal problems, becomes the great deal on the block, but that's happening everywhere to great home owners who have maintained their properties and made updates. Buyers can find homes at below market prices, in fairly good if not good condition and have minimal risk in terms of resale or investment. Who can blame them for still trying to deal on these homes.

Today's seller who proclaims " I don't have to sell, I can wait" makes me wonder. Why get in the market then? How will this turn out to be a good situation for anyone? Buyers are trying to buy at below or fair market value, the seller won't concede to today's prices is just getting himself worked up by no showings or "insulting" offers.

More often than we would like we are hearing: " I have to sell, can you help me?" Then the sale is tough for everyone with an ounce of emotion in their body but the deal is easier because, somebody has to sell and the facts are what they are.

For more real estate information, check out our website: www.kochsrealestate.com

We look forward to hearing from you! Char and Jim Koch

So many sellers will be waiting until they see the signs of spring( which could be as late as May in Cleveland) before they put their homes on the market for what they think is the Spring selling season. NOT A GOOD MOVE!

Buyers who want to move in JUNE, shortly after schools let out, are hitting the pavement now traveling to Open Houses and calling on properties. Those buyers will need time to sell their homes and if they find a home they LOVE ( which is becoming an enigma these days--buyers now more than ever are looking for investments that are priced below market value more than they are looking for DREAM HOUSES) they will write DELAYED escrows on those properties to secure that they have a home and neighborhood to move into this summer( ie June 10). They won't be waiting until JUNE to make that decision to buy......they will make that decision much earlier like March or April......so if you are NOT on the market, you may have missed your buyer!

Sellers used to be afraid to put their homes on the market because they thought their home would sell too quickly and they would not have enough time to find a home to move to! Those days are gone! Even if you think your home is price right(? whatever that means in today's crazy market!) you may still need a price adjustment along the way. If the average home in the suburbs is taking 90-120+ days to get a contract.........you're talking about May to get a contract! If you are going to dawdle around with pricing to SHOW rather than pricing to SELL, getting a contract (offer) may take even longer!

Sellers can't be waiting for the beer truck to have a break down in front of their homes anymore.....when that buyer sees your home in tip top condition, oozing with curb appeal and priced fairly.......the wife is going to scream STOP THE CAR! and that's another reason if you should swing into action now you will be ahead of the game.

Other sellers will be waiting for warmer weather to clean their garages, clean up their yards, paint rooms and start packing boxes.

Now is your chance to set a 2 week time limit and get as many of those jobs done as you possible can while those other guys are sitting by the fire waiting for the snow to stop!

If you are serious about making a move this year, why not start those projects now so that you can be on the market March first.

Hopefully, if you've been thinking that this is the year, you've already started the project. Stop getting ready to get ready and get it done!

The buyers are listening to all kinds of media hype but what you should be listening to is the facts:

1. a drop in interest rates can stimulate the market but 2. homes that are selling are either dirt cheap or 3. SHOW LIKE MODEL HOMES AND ARE PRICED RIGHT.

Every week I get a call from some non profit organization who would like to pick up clothing and household items...you must be getting those calls too! Get rid of everything you don't intend to move. Have boxes stacked up neatly in a corner of the garage or basement with things you plan to sell at the very first opportunity to have a garage sale ( by the way those garage sale stalkers may know someone who could be interested in your home!). Move cumbersome furniture to a storage to make rooms appear larger than they are and also make it easier to paint and clean!

Spit shine every thing. Nothing impresses buyers more than clean uncluttered homes! Keep the warmth but get rid of the "we live here look"

If you are serious about selling, call three Realtors in your area and ask them to come preview your home. Take notes........they will probably be offering you great advice in hopes of getting your listing. Once you get three price opinions, DO NOT BANK ON THE REALTOR WHO AGREES WITH YOU!!! Weigh all the information carefully and then decide who you think you can work with, setting the price will be easy once you have heard from a number of sources. Check out those free websites......Zillow, cyberhomes, county records for your street, do your homework. Your realtor will help you sort out fact from fiction.