"Losing" on Real Estate Price a Matter of Perspective

Here is a good article by M. Anthony Carr of RealtyTimes.com. He talks about the psychology of todays sellers. Here are a couple of excerpts:

"When it comes to pricing your house when you’re ready to sell it, keep in mind you must sell in the market you’re in today. It doesn’t matter what your former neighbor got six months ago, or what properties are listed for now. All that matters is this -- whatever the last sale price in your neighborhood of your model -- that’s probably your sale price now. "

"What’s even scarier are the agents who are defending their prices in a correcting market. I have to keep in mind that nearly half the agents in the country (as well as here in the Capital region) were not in business five years ago. They’ve just now entered a market where prices have to be corrected, dropped -- improved, as it were."

"Keep in mind, the market is the market. When it’s time to buy, buy. When it’s time to move, then sell. Work with the market you’re in, not in the market you wish it would be. "

Go here to read the article: http://realtytimes.com/rtcpages/20060616_perspective.htm