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What Recession? If It's Priced Right, It Sells!

Posted by Robert Casella on Saturday, February 18th, 2012 at 4:01pm.

What Recession? If It's Priced Right, It Sells!

So, I had been showing some homes in Heritage Harbour to a couple for the past month and a half or so. Although there are listings in Heritage Harbour, there are not many. The property had to be the right fit, and truth be told, there just is not a lot on the market. While foreclosures and short sales are still in the mix, many homeowners have simply opted not to put their home on the market because it just doesn't make sense. They are either underwater or are simply hoping for a better market. Thus, resales seem to be somewhat of an endangered species at the moment.

Perhaps one of the biggest winners in this equation has been the builder. However, for those homeowners that are able to put their homes on the market at a fair market price...well, their homes are disappearing faster than purchasers can gobble them up. Case in point. A fellow realtor called my partner to just let her know that she was listing a home in Heritage Harbour. Incidentally, I have sold hundreds of home in Heritage Harbour and she let me know that a resale villa would be posted to the MLS in a short time. Before that listing even hit the MLS I had that realtor's phone ringing. Based on the price of the listing, this villa was going to go fast. My homeowners met me over there and instantly saw the value, put in an offer, and this Heritage Harbour listing never made it to the MLS.

So what can we learn from this experience in Heritage Harbour? Some of you are laughing and saying that I simply had the right buyer at the right time and the right place. Yes, but that is only part of the equation. The price must be right. Buyers are more informed nowadays than ever before, and a large majority of them know value when they see it. If it's priced right, as it was for this villa in Heritage Harbour, you may find them exclaiming "What Recession?!"

Robert Casella, CLHMS - Licensed Realtor
Certified Luxury Home Specialist

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