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 Arlington, TX

Latitude: 32.705033 -- Longitude: -97.122839

ZIP Codes for Arlington, Texas	76001 76002 76003 76004 76005 76006 76007 76010 76011 76012 76013 76014 76015 76016 76017 76018 76019 76094 76096
Area Code for Arlington, Texas	817
Time zone for Arlington, Texas	CST

Other Area Cities: De Soto, TX Fort Worth, TX Arlington, TX Bedford, TX Euless, TX Forest Hill, TX Grand Prairie, TX Hurst, TX Mansfield, TX North Richland Hills, TX Colleyville, TX Southlake, TX Irving, TX

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Arlington is a city in Tarrant County, Texas (USA) within the Dallas-Fort Worth-Arlington metropolitan area. As of the 2000 U.S. Census, the city population was 332,969 (though a July 1, 2004 estimate placed the city's population at 359,467). Arlington is the seventh-largest city in the state and the fiftieth largest city in the United States. Located approximately 12 miles east of downtown Fort Worth and 20 miles west of downtown Dallas, Arlington is home to the Texas Rangers' Ameriquest Field in Arlington and the theme parks Six Flags Over Texas and Hurricane Harbor. The Dallas Cowboys' new stadium will also be located in Arlington. The city borders Kennedale, Grand Prairie, Mansfield and Fort Worth, and completely surrounds the smaller communities of Dalworthington Gardens and Pantego. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Arlington	Texas	United States
Population	332,969	20,851,820	281,421,906
Median age	30.7	32.3	35.3
Median age for Male	30.2	31.3	34
Median age for Female	31.2	33.4	36.5
Households	124,686	7,393,354	105,480,101
Household population	330,521	20,290,711	273,643,273
Average household size	2.65	2.74	2.59
Families	85,000	5,247,794	71,787,347
Average family size	3.2	3.28	3.14
Housing units	130,628	8,157,575	115,904,641
Occupied units	124,686	7,393,354	105,480,101
Vacant units	5,942	764,221	10,424,540

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November 20, 2008

Local Information for Arlington, TX

Latitude: 32.705033 -- Longitude: -97.122839

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