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CONTACT WALTER

559 S. Washington Ave., Kankakee,IL 60901

P.815.929.9258 P.815.929.9200

walter@waltersanford.com

Walter, thanks for speaking in front of Exit Realty Florida last month. It was great stuff and my agents really appreciated you, your presentation, and your books and tapes. Thanks for an enlightening day! Steve Marabel, EXIT Realty All Stars

READ WHAT OTHERS SAY

IT’S TOO MUCH MONEY December 21st, 2007 | Posted in General Real Estate

“But Walter, it is the lowest in the (building/area/subdivision)!”  Then the whole area/ect./ect. is overpriced!  The hardest thing that my clients have to get their minds around is that real estate does go down and if you are not getting any showings then there is a value perception problem.  There are a million ways to ask for a price reduction, but what if you don’t want to drop the price any farther.  You live in the area or you have been selling in the area for years and don’t want to be blamed for single handedly dropping every-ones price.  What do you do?  You need a price reduction, but farther reductions cause too much pain or riots.  Well, we have to improve value so buy the interest rate down to 3% for then next 5 years.  Include a new car or include a new pre-paid gift certificate for a new kitchen.  It is time to get tough, but you can do it creatively.

One Response to “IT’S TOO MUCH MONEY”

  1. Ken A says:

    Too much compared to what?

    I’d also look at the potential for the area/neighborhood to rebound in the future as well (as that factor might take of some the sting of a worst case scenario fear)…

    Thank you and Merry Christmas!

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