Westford Real Estate: Listing at 10 Starr Circle

June 14, 2008

I have a listing for a home for sale in Westford at 10 Starr Circle.

This home is perfect for a family that wants a spacious home in a great neighborhood on a cul-de-sac. What stands out for me about this home is the location. You can walk to Robinson Elementary School, Crisafulli Elementary School, and Westford Academy. It’s close to the town common and libary, and is convenient to two exits for Route 495.

You can see more information and take a visual tour of this home at www.10starrcircle.com. Let me know if you know of anyone looking for a home like this in Westford.

Posted by Susan Ernst | Filed Under Homes for Sale, Market, Westford | Leave a Comment

Price, Price, Price – The New Rules of Real Estate

June 7, 2008

It used to be that the three rules of real estate were Location, Location, Location. In the current market, the rules are Price, Price, Price.

I recently wrote about the selling prices of homes in Westford for April and May 2008. Many of those homes had multiple price changes before they sold. People don’t realize it, but its been proven that homes that go through multiple price reductions actually end up selling for less than homes that are priced realistically when they are first listed. The reason for this is that buyers see that there have been price changes, and decide to wait for future price drops before making a bid.

When a realtor does a market analysis on your home, he or she provides you with a range in which to price your home, based on the most recent sales of homes similar to yours. Listen very carefully because they are basing this range on the current market conditions, not what your neighbor’s house sold for a year ago.

You, the seller, decide the selling price. But be cautious with an agent who will put it on for “whatever you want” just to get the listing. They, ladies and gentlemen, are not looking out for your best interest. They will list it at an unrealistic price, and come to you later to reduce the price –maybe multiple times!

This is a tough pill to swallow if you need to sell a home that you bought in 2004 or 2005. Most likely, you will have to list it at a price less than you paid. But resist the urge to over-price it in the hopes that you’ll get lucky. If you price it at the market, you’ll net a higher price than if you start too high. I’ll write more in an upcoming post about why buyers have so much power today.

Posted by Susan Ernst | Filed Under Economy, Market, Selling a Home, Westford | Leave a Comment