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 Cedar Hill, TX

Latitude: 32.588454 -- Longitude: -96.947325

ZIP Codes for Cedar Hill, Texas	75104 75106
Area Code for Cedar Hill, Texas	972
Time zone for Cedar Hill, Texas	CST

Other Area Cities: Balch Springs, TX Cedar Hill, TX Duncanville, TX Grand Prairie, TX De Soto, TX Dallas, TX Euless, TX

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Cedar Hill is a city located sixteen miles from downtown Dallas in the southwest corner of Dallas County in Texas and adjoined by Joe Pool Lake and Cedar Hill State Park to its west. Early in its history, Cedar Hill served as the temporary capital of Dallas County and lay along a branch of the Chisholm Trail. In 1856 a tornado swept through the town killing nine people and destroying most of its buildings. The seat of the county was moved to Dallas not long after. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Cedar Hill	Texas	United States
Population	32,093	20,851,820	281,421,906
Median age	31.5	32.3	35.3
Median age for Male	30.6	31.3	34
Median age for Female	32.4	33.4	36.5
Households	10,748	7,393,354	105,480,101
Household population	31,821	20,290,711	273,643,273
Average household size	2.96	2.74	2.59
Families	8,736	5,247,794	71,787,347
Average family size	3.3	3.28	3.14
Housing units	11,075	8,157,575	115,904,641
Occupied units	10,748	7,393,354	105,480,101
Vacant units	327	764,221	10,424,540

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November 20, 2008

Local Information for Cedar Hill, TX

Latitude: 32.588454 -- Longitude: -96.947325

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