Your Own Worst Enemy Has Come To Town

If your selling your home, you'd better price it to meet market demand. Year to date there have been 800 condos sold in Hoboken. Today there are 441 for sale.

I see condos sell in as little as one day. I even sold one myself this tear the first day it was on the market. It takes the right price and the right buyer.

Sellers often get caught in the "death of a thousand price cuts" trap. A seller wants a certain price and an agent wants the listing. So the agent takes what they know to be an overpriced listing. Then they wait...many showings no offers.

So the seller reduces the unit by some nominal amount. ( $10k or 15k on a $600k property.) Wake up Mr. Seller. Do you think that a buyer is going to look at that as a real reduction??? That's noise to a buyer. So Mr. Seller waits another month....more showings, no offers.

Another prioce reduction....another $15K....Now Mr. Seller is where he should be...not so fast...Now we are in the Holiday period. few showings...no offers....Another month goes by. An offer finally comes in.. It's low... Mr. Seller is tired of showing the place and wants to move....Mr. Seller has been worn down. Mr. Seller gets less fotr the condo and it takes longer to sell than if it was priced to the market. As Bruce Springsteen sings "Your Own Worst Enemy Has Come To Town" and your realtor let it happen.