By John Lefferdink
Real estate home prices may soon be on the rise, as job market improvements and increased buyer interest begin to boost the national housing market. However, according to a recent report for Smart Money, the current disparity between asking and purchase prices throughout the U.S. is “enormous” – so much so that it may even be influencing market values on a national scale. When it comes to setting realistic home prices in San Diego, or anywhere for that matter, it is critical to establish an asking price that falls fairly close to the figure buyers will end up paying. Set the bar too high, and the necessary price reductions will cost you; set it too low, and you may miss out on valuable income from the sale of your home.
Smart Money reports that, as of March 2012, sales of existing single-family homes dropped by 2.6% from the previous month. At the same time, the median real estate sale price increased to $163,800 – a 5% rise since February 2012. These figures suggest that, while buyers across the country may be willing to pay more, the regional breakdown may vary considerably. Why? Because, in some markets, sellers are starting out with unrealistic asking prices – and ending up with far less than they bargained for.
Finding the sweet spot: set a winning list price with help from a savvy real estate agent
As we move into late spring and the height of the home buying season, listing prices will likely soar in tune with the temperature. Still, agents and sellers can’t count on the spring fever to seduce buyers into over-paying. According to Mark Goldman, a real estate lecturer here at San Diego State University’s Corky McMillin Real Estate Center, many sellers and their real estate brokers are too optimistic when it comes to cooking up listing prices – a mistake that can ultimately drive the final purchase price down below fair market value.
At John Lefferdink Associates, our Rancho Santa Fe realty experts have been working in the San Diego market for decades. We understand the pitfalls of unrealistic pricing, and make it a priority to educate our clients on the best asking prices for their property. Some agents prefer to inflate seller expectations with higher prices; but at our agency, we prefer to maintain honesty, integrity and client satisfaction for the long haul. In today’s market, selling a home in San Diego can require something of a balancing act: get help from the experts today, by calling John Lefferdink Associates at (858) 756-8098 or visiting us online today: www.johnlefferdink.com.
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on May 18 2012. Filed under Columns, John Lefferdink, Sponsored Columns.
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