Seller Updates

The Good, the Bad, the Ugly...you see what we see. When you list with us, you will be regularly updated on your home's performance and how it stacks up. This home was listed in a Roswell GA community and we picked it up after the owners tried a discount broker without success. It contracted about three weeks after this update.

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Hi Guys -

Well this is the latest recap on the house to this point 45 days in.

Agent visits – 16

R.Com views – 652

AJChomefinder views – 398

Prudential.net/com views – 412

Info packets emailed – 18

Open house – 1

Agent Caravan - 1

Homes listed between 250k-300k in area 13 (your area) since 2/11 – 31 additional homes.

Feedback

Main Positives – Finished inlaw in basement, Cul de sac, condition, space between homes

Main Negatives – Rear yard unusable, priced high for development, colors too vibrant

There are 11 current active homes comparable to yours (basements) between 250–300 in this area; avg list price is $282K, avg sold price is $277K (01/06+)

For the same area with a finished basement, avg active is $281K, avg sold is $275K (01/06+)

We listed 2/11 so we’re hitting the 50 day range. I know it’s not what you want to hear, but I’d suggest a price drop. The main thing hurting you is your price as compared to the neighborhood. While the house comps very well overall, compared to the neighborhood it doesn’t. The yard is an issue, but not a killer. The colors are bold, but that’s also something that can be dealt with during an offer if needed.

You know the drill in the development – highest sale was 268,500 w/3000 in closing back in 5/06. Next highest was in 9/04 at 246,000. I know you’re leveraged out the whazoo – but I’m going to suggest cutting it to at least 279,900. That would likely get more traffic and hopefully one of those turns into an offer.

As we discussed initially, just because you price it aggressively doesn’t mean you have to give it away, we’d negotiate close; but at least you have something to negotiate. A concern as well is the appraisal, this may contract but it’s likely the appraisal could be a problem – lenders are losing homes and business, things are tightening.

This is the start of the prime season, I know you’re not pleased but at the end of the day the price needs to come closer into line with the development. The house has to go in these next few months; it’s already been out there once so you also need to watch that as well.

Let me know your thoughts….

Hank