November 20, 2008

In today’s volatile market, buyers expect to get a great deal when then purchase a home. It’s almost as if they want to be rewarded for being brave and credit worthy. So how do you price your home so that it’s competitive enough to get buyers looking at it, but high enough to allow the negotiating room buyers need so they can assure themselves they purchased the home at a discount?

A while back I showed a home that had been reduced for a quick sale. It was a great deal. The buyer I was working with loved the house and made an offer (90% of list price) on the home. The offer was rejected. When I asked if the buyer would have been happy with the purchase price if the home had originally been listed higher and he’d offered the current list price. The buyer admitted that buying the home at a discount was more important than finding the right house at the right price. He absolutely could not pay full list price for the home, even though the list price was below comparable homes.

It’s difficult for sellers to understand that some of the appreciation they’ve experienced over the last few years has been wiped out. But if a seller has owned for more than about 8 years, he still should have built up enough equity to be able to price well, leave a little room for negotiation and walk away from the table with some profit. Compare profits to what your stock portfolio or retirement is worth, and sellers in most parts of the country are still OK. Yes, there are areas in the country where sellers are upside down in their mortgages, but how many of these sellers have owned for more than 8 years?

So if you’re a seller with enough equity to negotiate, do so with grace and gratitude. Hopefully, you’ll get just a good a deal when you go to buy your next home!

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Local Information for Pensacola, FL

Latitude: 30.436988 -- Longitude: -87.209277

ZIP Codes for Pensacola, Florida	32501 32502 32503 32504 32505 32506 32507 32508 32509 32511 32512 32513 32514 32516 32520 32521 32522 32523 32524 32526 32534 32559 32573 32574 32575 32576 32581 32582 32589 32590 32591 32592 32593 32594 32595 32596 32597 32598
Area Code for Pensacola, Florida	850
Time zone for Pensacola, Florida	CST

Other Area Cities: Pensacola, FL Gulf Breeze, FL Pace, FL Pensacola Beach, FL Milton, FL Navarre, FL West Pensacola, FL Warrington, FL Cantonment, FL Brownsville, FL

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Pensacola is a city in Escambia County, Florida. It is the county seat of Escambia County.GR6 As of the 2000 census, the city had a total population of 56,255 and as of 2005, the population recorded by the U.S. Census Bureau is 54,055.[1] However, the Pensacola metropolitan area, comprised of Escambia and Santa Rosa counties, had a population of 439,877.[2] Pensacola is a sea port on Pensacola Bay, which connects to the Gulf of Mexico. A large United States Navy airbase, the first in the United States, is located southwest of Pensacola (near the community of Warrington) and is home to the Blue Angels flight demonstration team and the National Museum of Naval Aviation. -- Source: Wikipedia.com

Florida 2000 Census Population Profile Map

	Pensacola	Florida	United States
Population	56,255	15,982,378	281,421,906
Median age	39.4	38.7	35.3
Median age for Male	37.2	37.3	34
Median age for Female	41.1	40.1	36.5
Households	24,524	6,337,929	105,480,101
Household population	55,759	15,593,433	273,643,273
Average household size	2.27	2.46	2.59
Families	14,676	4,210,760	71,787,347
Average family size	2.92	2.98	3.14
Housing units	26,995	7,302,947	115,904,641
Occupied units	24,524	6,337,929	105,480,101
Vacant units	2,471	965,018	10,424,540

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November 20, 2008

Local Information for Pensacola, FL

Latitude: 30.436988 -- Longitude: -87.209277

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