The House that Can't Sell....

Right now, we are starting to see something we haven’t seen in awhile.  Homes sitting on the market, not selling.  Well, this “phenomenon” is something as old as time itself.  If thou price it right, thou shalt sell it fast as light. 

At the end of the day, any home will sell, for the right price.  Regardless of the factors against it, for the right price, someone will buy it.   “But Rob… any house?”  There are some that just can’t be sold, right?  Wrong. At the end of the day, there’s someone for every home. Don’t believe me, let’s look at this scenario:

We have a house here.  

Let’s even say it in your local area, fits all of your required criteria.

But lets say, there are large high tension wires in the front yard.  And in the backyard, right off your lot, are train tracks.  

Lets say that you’ve been looking at other similar homes around 300k, without any of these problems, so of course, this doesn’t hit the top of your list.

But…

What if it was $1?

Hmm, Well, that’s not very realistic…

Now what if it were $100,000?

Huh?  ⅓ of the price of anything else and it checks all the other boxes?  That would be a steal of a price.  You would certainly be attracting a ton of buyers, regardless  of the high tension wires or train tracks.

So see…there is a price.  

And at the right price, that peaks the buyer's interest, meaning you are going to have more activity immediately, resulting in a or multiple offers, generally at or above list price.  And based on what we have seen in the past couple years, I bet if this fictitious home listed at 100k, they would most likely have multiple offers and be closer to the $300k they originally hoped for…

You don’t have to be the government and lower rates to 2% to create a buyer frenzy.  You just have to price it right.