RLM Properties Real Estate Blog

Here we are in June of 2007! I remember sitting at the kitchen table of sellers at the beginning of 2006. They asked me do I think home prices will go up or down? I told them we had atleast another 10%, most laughed or hurried me off. Read my post of March of this year and still looking at 5% - 10% I look back at those properties now and some of them have gone down an average of 15% - 20%.If you have to sell your home in this market, for the best chance of getting a contract you should price 5% -10% under what all the other comparable properties.

Lets look at the numbers:

Port St lucie FL

Residential Single Family homes (Monthly)

                                     May 2004               May 2007

Inventory:                         2892                       6373

Sold:                                 488                        150

Days on Market:                   47                         158

 With more than double the inventory on the market and less than half of the homes sold, it does not take a rocket scientist to figure out we have a rough ride ahead for the real estate market. If you must sell find a good and honest real estate agent that will tell you what you NEED to hear not what you WANT to hear about the price of your home. If you price too high right now and have to lower over the next 6 months you may loose tens of thousands of dollars. So lower your price and even raise the commission for the buyers broker. You say that you have already lowered your price! then lower it again, do another CMA to see if your price is realistic. If it still does not sell, it may be the house next store, what about repairs that need to be done, or even the neighborhood. These other things that you can not change, so you must reduce the price to compensate for things you can not change. As in the past blogs we need to remember to not hold to the things of this world too tightly, when they are pulled from your hands it stings more. If you have a house that you got into and can not afford, take the loss and start over. Remember 10 out of 10 people will die and all these things will be gone, look to God thru His son Jesus Christ that died for your sins so you can have a relationship with God. Call me or email if you have any questions about real estate or more importantly a relationship with GOD!