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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126 Andover E, West Palm Beach FL

Local Information for Lake Worth, FL

Latitude: 26.619695 -- Longitude: -80.058742

ZIP Codes for Lake Worth, Florida	33454 33460 33461 33462 33463 33465 33466 33467
Area Code for Lake Worth, Florida	561
Time zone for Lake Worth, Florida	EST

Other Area Cities: Boca Raton, FL Lake Worth, FL Boynton Beach, FL Delray Beach, FL Wellington, FL Greenacres, FL Lantana, FL Ocean Ridge, FL Riviera Beach, FL West Palm Beach, FL

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Lake Worth is located at 26°37'11?N, 80°3'31?WGR1, approximately seven miles south of West Palm Beach and 60 miles north of downtown Miami. According to the United States Census Bureau, the city has a total area of 16.7 km² (6.5 mi²). 14.6 km² (5.6 mi²) of it is land and 2.1 km² (0.8 mi²) of it (12.69%) is water. The USDA has mapped most of Lake Worth in the Southern Florida Flatwoods land resource area.[2] Deep, poorly drained acidic sandy soils are typical for the area; they have gray topsoil, white subsoil, and a dark hardpan. Much of Lake Worth is built on a rapidly drained white or gray sand which is too dry and infertile to support vigorous plant growth. The western outskirts of Lake Worth are in the Southern Florida Lowlands area. Topsoils there are sandy, but the subsoils have a much higher content of clay and the soils are relatively fertile. As in the flatwoods, these soils are poorly drained for many purposes unless drainage systems are installed. -- Source: Wikipedia.com

Florida 2000 Census Population Profile Map

	Lake Worth	Florida	United States
Population	35,133	15,982,378	281,421,906
Median age	35.2	38.7	35.3
Median age for Male	34.2	37.3	34
Median age for Female	36.3	40.1	36.5
Households	13,828	6,337,929	105,480,101
Household population	34,372	15,593,433	273,643,273
Average household size	2.49	2.46	2.59
Families	7,694	4,210,760	71,787,347
Average family size	3.19	2.98	3.14
Housing units	15,861	7,302,947	115,904,641
Occupied units	13,828	6,337,929	105,480,101
Vacant units	2,033	965,018	10,424,540

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November 20, 2008

Local Information for Lake Worth, FL

Latitude: 26.619695 -- Longitude: -80.058742

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