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 Brownsville, TX

Latitude: 25.930307 -- Longitude: -97.484424

ZIP Codes for Brownsville, Texas	78520 78521 78522 78523 78526
Area Code for Brownsville, Texas	956
Time zone for Brownsville, Texas	CST

Other Area Cities: Brownsville, TX San Benito, TX Harlingen, TX

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Brownsville is a city in Cameron County, Texas, United States, the southernmost city in Texas. As of the 2000 census, the city population was 139,722. As of 2005, U.S. Census estimates put Brownsville at a population of 167,493. It is the county seat of Cameron County. Fort Texas, a fort on the Mexican border was commissioned in 1845 less than a mile from what would become downtown Brownsville. Not even completed yet, the Mexican Army began the Siege of Fort Texas on May 3-9, 1846. One of the only two American soldiers who died in the attack was the Fort's commander, Major Jacob Brown, in honor of whom the post was renamed to Fort Brown. The Battle of Palo Alto occurred five miles from the present location of downtown Brownsville on May 8, 1846, the first battle of the Mexican-American War. On May 9, the Battle of Resaca de la Palma was fought within the bounds of the present city limits. Brownsville was established in January 13, 1849 by Charles Stillman. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Brownsville	Texas	United States
Population	139,722	20,851,820	281,421,906
Median age	27.7	32.3	35.3
Median age for Male	25.9	31.3	34
Median age for Female	29.3	33.4	36.5
Households	38,174	7,393,354	105,480,101
Household population	138,031	20,290,711	273,643,273
Average household size	3.62	2.74	2.59
Families	32,188	5,247,794	71,787,347
Average family size	3.99	3.28	3.14
Housing units	42,323	8,157,575	115,904,641
Occupied units	38,174	7,393,354	105,480,101
Vacant units	4,149	764,221	10,424,540

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November 20, 2008

Local Information for Brownsville, TX

Latitude: 25.930307 -- Longitude: -97.484424

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