Yes, it is one of these days.
When will the Realtors get real?
Sometimes I just do not understand, are Realtors, Real Estate agents, listing agents
waiting for the knight in white shinning amore?
I am trying to find a way to sugar coat this, but I just can't.
Seminole Isle is one of the communities that was new construction
and sold directly from the developer at the peak of the market.
This particular community got hit hard when the market crashed.
People bought units for $400,000 or $460,000.
Right now just in the last few month, these units sold for $ 225,000, $ 247,000, $260,000, $ 245,000, that makes an average sales price of $244,000 Ok, adjust for the view or upgrades but that's is it. Low end is 225K high end is 260K
Why, why would you list one of these units at $429,000 ???
What are you trying to do?
Nobody in his right mind, in this kind of market will pay that price.
Banks will never finance this deal.
It will never appraise!
So, why even list it? Isn't our inventory high enough?
What are people thinking?
Is it me or the rest of the world?
Am I getting this all wrong?
Am I missing something?
PS. this unit is one the market for more than 250 days.
Please go to our webpage to get a ton of information about Seminole Isle.
- If you think about buying or selling a house or condo in the Treasure Island Florida or the St. Petersburg Tampabay area, please give me a call.
- Ask me about waterfront homes or condos in St. Pete beach, Treasure Island, Madeira beach, Seminole and St. Petersburg Tampabay neighborhoods.
- Find out what we can do to sell your home or condo and what the value of your property is.
- Check out great real estate deals or visit condo associations like Seminole Isle.
- We also work with Short Sales, bank owned and foreclosures .
- Find a property or go to my website for more real estate information or simply contact us. 727 410 7777
Anne Hensel | Real Estate Broker in Teasure Island St Petersburg
Call today 727 410 7777
Hi Anne, I guess we al have a few of these don't we ? For a variety of reasons they rationaize why their unit is the one worth way over market. Even if someone falls in love with it ( over the others ) the bank won't touch the deal.
Yes, Bill I hear you, but I think taking overpriced listings is hurting our market by increasing the inventory.
Anne
Anne - a few days ago I read a blog about someone who accepted an overpriced listing. In the article, they admitted to previously ranting about other agents doing the same. Perhaps there was a marketing value to accepting the listing and the price difference was no where near what you describe above. Some agents will do and say anything to get a listing. Others, like the one I described, may just not know how to say No.
Yes and lets not forget the Hidden Inventory as well. Those investors who have taken their property off the MLS until conditions improve. Unfortunately, as you pointed out with the supply is so high and demand so low, only price will bring the buyers back in and that means selling for 50 cents on the dollar.
Hi Erik
Unfortunately I learned this way too late in live, but a few years back I was present when one of my agents asked a favor of another agent and the other agents thought about and said NO, sorry i can not do this.
I thought, how could she have the heart to say NO and I gave her my "disapproving " look.
She than looked straight back at me and said, Anne, it was 3 seconds of misery to say NO, if I had avoid these 3 seconds of misery, it would have been days of misery.
So, that is how I learned to say NO
It was a great lesson !!! and I am glad I learn it.
Anne
Yes, Bryan, here in St. Pete it only sells if it is priced right.
Anne