Postcard from the Edge
February 20th, 2008 Categories: Buyers, From Our Mail Bag, One Minute Realtor, Sellers
If there were any doubts that some Annapolis area homeowners have gotten a little edgy about the real estate market of late, they were laid to rest upon the arrival of a real treasure. It was one of our “Just Sold” postcards, returned to us in a plain envelope, with this thoughtful inscription scrawled all over it: Any Idiot Could Have Sold a Home in this Neighborhood For That Price!
We knew the neighborhood of origin. But the recipient’s mailing label had, understandably, been carefully peeled off, thus ruining any hope of retaliation other than a broad scale air strike, which I ruled out only after sleeping on it.
Truth be known, our correspondent was way off the mark: not only was the sale price right in line with others in the neighborhood. But the home sold relatively quickly.
A Little Knowledge Can be a Dangerous Thing
Aside from a measure of restraint, what our indignant writer lacked was knowledge of or access to the sort of information that would demonstrate the soundness of the sale.
Indeed, secondhand or incomplete information is never hard to find. Consider it gospel, and you do so at your peril. You may hear that a homeowner down the street sold their home for $450,000 - a number you very much liked the sound of. But perhaps you didn’t know that the seller contributed $20,000 in “seller help.” And that they threw in all the window treatments, a flat screen TV, and their firstborn son, too. Sellers aren’t quick to offer such personal information to their neighbors.
Nor is a neighbor likely to have the sort of inside information agents are duty-bound to keep confidential. Is the seller carrying two mortgages? Are there health issues to consider? Have the condition of the home and the showing feedback more or less determined that this is the best offer the seller is likely to get? That, and a thousand other factors may enter into the motivation equation.
Like It or Not, Buyers Control the Current Annapolis Area Real Estate Market
Dear Mystery Writer, no - we’re not idiots. Like all good agents, we work like the dickens, and with the best information we have, to help you price your home properly. But in the end, it’s always the market - the buyers - that determine a home’s value.
Agents don’t control the market and we don’t, ultimately, determine the price a home will sell for. Yes, we’ll attract buyers for you. It’s called marketing your home, and some of us are real good at it. And we’ll give you all the information you need to make informed decisions on offers. But the final sales price is always an agreement between a willing seller and a willing buyer.
So Mystery Writer, no hard feelings this time. We know people sometimes say or do things that they regret in the morning. But just so you’re aware, we are looking into the latest innovation in postcards, each one implanted with a micro GPS chip that can track the card’s journey. I’m sleeping on that one, too.
This is right on! Some Crofton homeowners are in denial, as well. I appreciate this post (and respect your restraint).
Thank you, Margaret. Your comments are always welcome.
Ken
First of all let me send our best to both of you. Your new website is fantastic. You see I never believed that the real estate market should be a secret and it always seemed that way to me. Most people don’t want to steel your jobs they just want to sell their house and let someone else do the worrying. Believe me I think some people are fools for trying to do it themselves. You all did a fantastic job for us and we are most grateful. Good luck with your new site and keep up the good work. Happy Easter.
Kathy & Jim Shelton
Kathy & Jim: Great to hear from you. We hope you’re doing well down in Texas. Thanks for your kind words about the blog, and us. As clients go, you were the best and we’re delighted that you think we did a fantastic job for you. Stay in touch.