{"id":2541,"date":"2008-01-27T10:36:23","date_gmt":"2008-01-27T17:36:23","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2541"},"modified":"2008-01-27T10:36:41","modified_gmt":"2008-01-27T17:36:41","slug":"selling-your-home-in-a-declining-market-the-race-is-to-the-swift","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2541\/selling-your-home-in-a-declining-market-the-race-is-to-the-swift\/","title":{"rendered":"Selling your home in a declining market? The race is to the swift"},"content":{"rendered":"

This is my column for this week from the Arizona Republic<\/i> (permanent link<\/a>):<\/p>\n

 
Selling your home in a declining market? The race is to the swift<\/b><\/p>\n

If you’re chasing the market down, chances are you’ll never catch it. The trick to pricing a home for sale is to race the market down.<\/p>\n

How’s that again? We’re in a declining market, that’s understood. It won’t be this way forever, but prices could continue their slow leak for quite a while longer.<\/p>\n

What that means is that, whatever price you might get for your home today, you will probably get still less a month from now or three months from now.<\/p>\n

Hence, you need to make a difficult decision.<\/p>\n

If you don’t actually need to sell right now, you might do better putting your move off for two or three years.<\/p>\n

But suppose instead that you do need to sell your house right now. You have a job offer out of town. You have a big deposit on a new home. You’re expecting triplets. What now?<\/p>\n

Even in the best of markets, sellers can have an inflated idea of the value of their homes. This has certainly been the case in the two years since the market turned. We’ve had a glut of inventory, but much of that has been overpriced inventory.<\/p>\n

Typically, the seller starts out with the price too high, then tries to chase the market down with a series of price reductions — usually too little and too late.<\/p>\n

If your house is not showing, it cannot sell. But if it isn’t showing, this almost always means it is overpriced. The trick to getting it sold now is to price it under the competitive listings.<\/p>\n

The natural impetus, in the face of advice like this, is to say, “I don’t want to give my house away!”<\/p>\n

Who can blame you for feeling that way? But the important question is, “Would you rather hang onto it for a few more months, and then sell it for even less — if you are able to sell it at all?”<\/p>\n

Racing the market down can be a painful decision. But the pain is likely to be Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is my column for this week from the Arizona Republic (permanent link):  Selling your home in a declining market? The race is to the swift If you’re chasing the market down, chances are you’ll never catch it. The trick to pricing a home for sale is to race the market down. How’s that again? […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-2541","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2563,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2563\/fair-assessment-of-risk-or-redlining\/","url_meta":{"origin":2541,"position":0},"title":"Fair assessment of risk or Redlining?","author":"Jim Duncan","date":"February 3, 2008","format":false,"excerpt":"Last week I asked what would happen if my local real estate market were to become a \"declining market.\"This week brings a perspective from the Washington Post and the Consumerist that \"declining markets\" equate \"redlining.\"Redlining:Redlining refers to the illegal practice of refusing to make residential loans or imposing more onerous\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"Declining-Markets-From-Geocommons","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2008\/02\/declining-markets-from-geocommons-tm.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4705,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4705\/in-a-declining-market-buying-a-short-sale-is-too-tall-an-order\/","url_meta":{"origin":2541,"position":1},"title":"In a declining market, buying a short sale is too tall an order","author":"Greg Swann","date":"September 28, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0In a declining market, buying a short sale is too tall an order Is it time to kick the stilts out from under short sales? Right now in most neighborhoods in the Phoenix area, the houses that\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":515,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/515\/which-houses-will-sell-local-market-is-slow-but-not-on-life-support\/","url_meta":{"origin":2541,"position":2},"title":"Which houses will sell?: Local market is slow but not on life support . . .","author":"Greg Swann","date":"October 6, 2006","format":false,"excerpt":"This is me from this morning's Arizona Republic, a kinder, gentler, less incendiary Greg. (Permanent link.) That marks a year of these columns, 52 on the nose. To tell the truth, I expected to get fired a long time ago. But, if they're not going to fire me, I wish\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9206,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9206\/now-could-be-a-good-time-to-buy-a-top-notch-home\/","url_meta":{"origin":2541,"position":3},"title":"Now Could Be A Good Time To Buy A Top-Notch Home","author":"Doug Quance","date":"July 17, 2009","format":false,"excerpt":"Some Well-Maintained & Updated Homes Are Better Values Than Foreclosures When all of the comparable homes in an area are foreclosures and short sales, you could get a really good deal on the nicer, well-maintained and updated homes. A broker recently called me regarding one of her listings. It's a\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1743,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1743\/why-didnt-your-house-sell-price-preparation-presentation-and-availability\/","url_meta":{"origin":2541,"position":4},"title":"Why didn’t your house sell? Price, preparation, presentation — and availability","author":"Greg Swann","date":"August 4, 2007","format":false,"excerpt":"This is me from my column in the Arizona Republic (permanent link): \u00a0Why didn't your house sell? Price, preparation, presentation -- and availability So your house didn't sell. Now what? Six months ago -- or was it a year ago? -- the world was young and ripe for the picking.\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1676,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1676\/in-down-markets-realtors-on-both-sides-of-the-transaction-need-to-step-up-for-their-clients\/","url_meta":{"origin":2541,"position":5},"title":"In Down Markets Realtors on Both Sides of the Transaction Need to Step Up for Their Clients","author":"Cooksquared","date":"July 19, 2007","format":false,"excerpt":"As the real estate market begins its tailspin, home buyers and sellers alike need to figure out how to play the real estate game. The time has passed for simply taking the lowest cost provider of real estate services. Realtors on both sides of the transaction must now prove their\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2541"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2541\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}