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 Fort Worth, TX

Latitude: 32.738881 -- Longitude: -97.33379

ZIP Codes for Fort Worth, Texas	76101 76102 76103 76104 76105 76106 76107 76108 76109 76110 76111 76112 76113 76114 76115 76116 76117 76118 76119 76120 76121 76122 76123 76124 76126 76127 76129 76130 76131 76132 76133 76134 76135 76136 76137 76140 76147 76148 76150 76155 76161 76162 76163 76164 76177 76179 76180 76181 76182 76185 76191 76192 76193 76195 76196 76197 76198 76199
Area Code for Fort Worth, Texas	817
Time zone for Fort Worth, Texas	CST

Other Area Cities: Burleson, TX Arlington, TX Keller, TX Fort Worth, TX Bedford, TX Benbrook, TX Colleyville, TX Crowley, TX Haltom City, TX Hurst, TX North Richland Hills, TX Richland Hills, TX River Oaks, TX Watauga, TX Westover Hills, TX Azle, TX Mansfield, TX

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Fort Worth is the fifth-largest city in the state of Texas and the 19th-largest in the United States. The city is also large in geographic area as it covers almost 300 square miles and is the county seat of Tarrant County—the 18th most populous county in the country. As of the 2000 U.S. Census, Fort Worth population was 534,694 (though a 2005 Census estimate placed the population at 624,067). The city is the second-largest cultural and economic center of the Dallas–Fort Worth–Arlington metropolitan area (colloquially referred to as Dallas/Fort Worth Metroplex), which is the largest metropolitan area in Texas as well as the entire South, and the fourth-largest in the United States with a population of 5.7 million in 12 counties. Fort Worth was founded as a military camp in 1849, named after General William Jenkins Worth. Today, the city is portrayed as more old-fashioned and laid-back than its neighbor, Dallas. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Fort Worth	Texas	United States
Population	534,694	20,851,820	281,421,906
Median age	30.9	32.3	35.3
Median age for Male	30.1	31.3	34
Median age for Female	31.9	33.4	36.5
Households	195,078	7,393,354	105,480,101
Household population	519,940	20,290,711	273,643,273
Average household size	2.67	2.74	2.59
Families	127,530	5,247,794	71,787,347
Average family size	3.33	3.28	3.14
Housing units	211,035	8,157,575	115,904,641
Occupied units	195,078	7,393,354	105,480,101
Vacant units	15,957	764,221	10,424,540

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November 20, 2008

Local Information for Fort Worth, TX

Latitude: 32.738881 -- Longitude: -97.33379

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