Real Estate Brokers not in touch with Reality!
Apr 30, 2013
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April 30, 2013 Real Estate Observation. What happened to asking prices in Middle Village since this past December 2012? Go to any of the Realtors sites, or MLS, or call the number on any sign on an Owners Lawn. Experience going to outer space without leaving the ground.
Two homes, Brick, townhouses, with three bedrooms sold and closed at the end of the year that needed work, & both were under $445K. A two family that needed work sold under $460K. All three homes were either off the park or just two blocks away.
So why is it, these same type of homes, and those without yards at all off Eliot Avenue, are in the ranges of $625 to $775k today?
Illegal bathrooms, and kitchens in a walk in apartment of a 2 Family, which is the way these homes were built 30-50 years ago, are declined by banks in attaining mortgages, as one homeowner just told me last night.
But getting to the current for sale homes, near the park, off Eliot Avenue, who is going to buy at these prices?
Leaving out the address of a Detached one family with 4 bedrooms, on a big lot, two level home, to close soon, with huge grounds, sold for $625k..........Friend of mine gave me the details.
So again, if this was recently sold and closing in May, at this price, where is the justification for the asking prices of so many homes in Middle Village today?
REALITY-LOW MORTGAGE RATES AND A REAL PROFESSIONAL APPRAISAL SHOULD BE ATTAINED BY HOMEOWNER'S, WHETHER YOU GET THREE VERBALLY, OR ONE IN WRITING BEFORE YOU SELL A HOME. If you want to sell this year, while buyers can get low rates, then the asking price must be realistic, & at current market value. Otherwise, week, after week, goes by, needlessly. And if you home is still for sale longer than 4 weeks, something is really wrong! Of course you can stand your ground, and get ready for Summer, which is around the corner, and traditionally buyers go on vacations then. But you would have to try again in the fall before Winter comes, while you stand that ground and wait for your Real Estate contract to end to. Putting it in the simplest of examples, you can not sell a half gallon of milk for $5.00 dollars?
WAKE UP AND SMELL THE ROSES. OR MISS THE LAST OPPORTUNITY BEFORE RATES SHOOT SKY HIGH! THIS IS FOR OWNERS AND A FEW BROKERS.