South Carolina Realtors
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Real Estate Newsletter
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Real Estate Realism
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Written by Eleanor Lightsey, EVP, Hilton Head Area Association of Realtors
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Saturday, 30 September 2006 |
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 Are you a buyer, lurking in our marketplace, waiting for the right time to buy
your dream home? Smart sellers are pricing their properties below comparable
homes in order to attract you.
Are you a seller refusing to reduce your
listed price and seeing your neighbor’s home sell instead of yours? Smart buyers
are choosing the lowest price when there are comparable homes.That’s
Economics 101 (supply and demand).
What we have now in this area is a real life
lesson as it relates to real estate- when there is a large supply and not enough
demand. In order to achieve equilibrium, prices have to fall. Sellers must get
real!
Smart buyers won’t buy overpriced properties, and their realtors won’t
let them. If you’re a homeowner who thinks you can put your house on the market
and enjoy the bidding wars that were prevalent about a year ago, you need to
change your strategy and be more realistic. If your realtor suggests reducing
the price of your listing, so that you can attract more prospects, consider that
option. Realtors understand that the market determines prices – not individuals.
The market is real – you and I are too subjective.
Your realtor is the
expert – why not listen to his/her advice? How much reduction in price you need
to make may depend on how badly you need to sell. Again, basic economics
dictates that if you’re in a big hurry to sell, or if there are several houses
similar to yours on the market, the greater the need to lower the price – and
lower it a lot. Your realtor will help you with this and all the other marketing
strategies you need to employ in this market.
And if you’re thinking about
listing your home now, with so many competing homes for sale, do not choose the
realtor who will list it at the highest price. Find an agent who is realistic –
one who can explain just where the price point should be in order to attract
those lurking buyers. And if your home has been on the market for a long time,
consider taking it off until the sales pace picks up. The pace will pick up
because real estate markets, as most markets, are cyclical.
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Real Estate
We’ve got the latest market news and real estate tips right here, plus helpful
hints on choosing a realtor, buying a home, getting your property sold and
getting the best price for, and on, your new home and more.
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Financial Center
Now that you’ve found your perfect home in the perfect neighborhood, it’s time
for financing. Below you’ll find a comprehensive list of some of the area’s
finest banks, mortgage brokers, and lending institutions.
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Home Resource
Now that you’ve found your dream home, we’ve got all the tools you need, in the
articles below, to keep it looking its best, fix up anything that goes wrong, or
make all those improvements that make a house a home.
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Hilton Head Monthly
 At Monthly Media Group, we take great pride in tailoring our writing to best spotlight important news, business, lifestyle and fascinating people in our area. It’s why our readers tell us that they read the magazines cover to cover each month.
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Hilton Head Golfers Guide
 The Widest Reach in the Golf Industry. Golfer's Guide® prints more than 5 million copies each year reaching 15 million readers, making it the third largest golf publication in the United States. Visit Hilton Head Golf Course Guide .
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Great Golf Communities
 Visit Hilton Head Golf Communities, a source for every aspect of your search for YOUR ultimate golf community experience. No matter your taste or craving, there is a Hilton Head golf community to fit your living needs.
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HH Golfers Guide Travel
 Research, Plan and Book Your Hilton Head Golf Vacation Right Here!
Golfers Guide Travel.com is the best website for researching, planning and booking your next golf vacation to the world's most popular golf destinations.
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