It is not unusual to hear an Ann Arbor seller say at some point during the listing presentation,”I’m not giving my house away?”
When I hear this, I understand where they are coming from do to the fact that at one time the home they owned would have sold for more. (like in 2005-2007)
But, are they “giving away the house” if selling in the current market conditions?
Market Conditions Change
Every market changes, whether it is stocks, food or homes. It is fluid.
Selling your Ann Arbor Area home in 2011 is not the same as selling it in past years.
A home priced at the current market value, is “not giving your house away.” It is selling at this point in time under the current market value conditions. Realtors can’t change the market, we only list, sell and work in it.
Trust me if I had the power to change the market value I would.
The National Residential Appraisers Institute defines market value as…
The most probable price which a property should bring a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.
The Realtor Job
My job as a Realtor is to help buyers and sellers understand market value by providing data of solds and actives of the local Ann Arbor Area market. The numbers just don’t lie. The data is there. I am good at what I do, but I don’t control the market, I only interpret the data provided by recent solds and current active homes.
Someone once said…”The market may not be kind, but it is never wrong.”
In other words, your home is worth not what I think it is, nor what you think it is, but only what the market says it is.
Next time you think, “I am not giving my house away”, ask yourself if you are really giving your house away or if you are just selling at a point in time that the market has changed.
When we meet you will see a complete list of all the homes sold in recent months and a list of what your competition is based on size, location and what other homes are selling for in your local area.
You are welcome to subscribe for weekly market updates for your location and zip code here or on my Ann Arbor Real Estate web-site.