Tucson real estate : I recently viewed a home that was listed for approximately $900k. It seemed extremely over priced to me. I asked the listing agent about the price and she confirmed that it was over-priced! She actually told me the seller had it recently appraised for approximately $600k, but insisted on listing it for $900k.
I asked her why she would accept an over-priced listing; since it will NEVER sell at its current list price. The Realtor told me she gets a lot of sign calls, about the home from potential buyers. She in turn captures these buyers and sells them different homes…..
Sellers, do not over-price your home! It will not sell! Even if you do find a buyer who is willing to over-pay (trust me they are rare) if they are getting financing, the lender will insist on an appraisal. If the home does not appraise, they can not get financing.
ASK YOU REALTOR FOR COMPS!!! It is the best way to ensure you home is not over-priced. Don’t let a Realtor use your home sale as a way to find clients for themselves…. This is not in your best interest and continuous price reductions signal desperation to buyers. You will be hurt by this strategy in the long run.
Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana real estate home sales.
