Rich Reba, Real Estate Exception, RAISE PRICES!
by Richard Reba
(Franklin Park, NJ, USA)
Real Estate has seen better days. But why do home values continue to fall? Why are home owners allowing other to benefit from their assets?
Well, it is pure economics. The real estate market is great in supply and low in demand causing home owners who need to sell forced to price lower and lower. Blame yourselves for the current real estate liquidation that currently exists. As humans we have a tendency to play "follow the leader." For instance, have you ever purchased or sold a product on eBay? Two different ebayers can be selling the same product at the same price yet one has many bids and the other has zero. Its apples to apples but bidders will continue to follow bidders because they assume there is a reason nobody has bid on the other item. Come on people!
We, the sellers and buyers create the market conditions and we are the only ones that have the power to influence the real estate market back to greatness. Ok, so how is this going to happen? First, if home owners keep their prices high (where they should be) then other home owners will keep their prices high. It is really that simple. The market just needs a leader, or many leaders, to not budge on price!
Keep our properties at the value we know they should be. Don't settle, don't lower prices and most of all don't allow real estate agents or anybody else influence you otherwise. Agents are only looking for the sale, an extra $10,000 in a home sale price is only $150 extra in an agents pocket. In the large sceme of things thats trivial. The first thing any real estate agent is going to tell you when they meet with you is "you are priced too high, if you want to sell you must lower your price." That is a bunch of malarchy! Keep your home priced high, others will follow and we will artificially inflate the real estate market back to the position it should be.
Or, keep lower real estate prices, sell your assets to the higher bidder and allow them to gain the equity that you just lost. Smart one!
