Ginger Harper, Your Southport~Oak Island Agent~Brunswick County! (Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team)

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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Depends on the property. And yes, I feel your pain. However, overpaying at the height of one market does not justify overpricing in another.

Apr 13, 2016 01:56 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Based on what the market says it is worth.  What they paid for it has nothing to do with what it will sell for.  Pull good comps and prepare a good cma.

Apr 13, 2016 01:59 AM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Correctly for the current market. Some agent told me yesterday when i called about a listing,  "They paid $450,000.00 for it in 2005". What someone paid 10+ years ago means nothing in the current market.

Apr 13, 2016 09:49 AM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

I price it to sell. If the seller disagrees, let them use someone else.

Apr 13, 2016 04:37 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties


Apr 13, 2016 06:13 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

As others have commented I feel their pain but today's buyer is not willing to pay more than it is worth today.  

Option 1--take a loss

Option 2--continue to live there

Option 3--use it as a rental

Option 4--short sale, deed in lieu or foreclosure

Option 5--PRAY for a miracle!

Apr 13, 2016 06:10 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I price it so it will sell, unless the seller insists on overpricing, but I will not take the listing if it is totally out of reach.

Apr 13, 2016 04:35 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Why are they selling if it is worth half it's purchase price?  I  would encourage them to keep it, as a rental if necessary and let it pay for itself over time.  Otherwise, there are two options:  1) Lose a ton of money by presenting a check at closing  or 2) turn it back to the bank in lieu of foreclosure and mess up their credit.  

As for how to price it... the same as any other property, based on comps and market conditions.

Apr 13, 2016 01:48 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

CMA.  market price has zero to do with what they paid in 2005

Apr 13, 2016 02:47 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy


The market determines its worth.  They need to see detailed comps.  A

Apr 13, 2016 01:10 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

You price according to the current market.  Fortunately, here in the Dallas area, home prices have been soaring.

Apr 13, 2016 11:21 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I price a property based on recent comp sales. What the seller paid for a property does not affect current market value.

Apr 13, 2016 11:16 AM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

Just because they paid a lot means nothing.   How about buying a car for $50,000 and then sell it a few years later for $25,000

Apr 13, 2016 10:56 AM
Allie Angeloni
Long Realty - Oro Valley, AZ

I have seen similar situations in our community, based on when the property was purchased and today's values.  The Seller knows what he wants, and he does not want to lose - he has done no updates - he sees (maybe not really) the comps - the reality is not pretty Ginger Harper.

Apr 13, 2016 10:45 AM
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Lots of research, local stats and knowing the market.

Apr 13, 2016 10:19 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Ginger Harper Comps never lie. Not good news for the sellers.

Apr 13, 2016 06:13 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Some times you have to encourage them to take the sour tasting medicine and sell at a loss.  Just price it accordingly to the market.

Apr 13, 2016 05:34 AM
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Good comps and the market will help me with listing price.

Apr 13, 2016 04:37 AM
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

What they paid for it in 2005 has nothing to do with what it is worth today. They can pay the loss, or give it back to the bank. However, doing a short sale just because the value has dropped has never sit well with me. They agreed to buy it for the price they paid in 2005, so commit to your word and agreement. I hate when people just give it back to the bank, just because they can. Where are your morals?

Apr 13, 2016 04:26 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I have always had good fortune in this subject. Knowing what it costs to build, sq foot for the area, tax value and comps validate my outcome

Apr 13, 2016 03:52 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

That's pretty tough but it is the reality of where things are - the price in the market as it was when they bought. Can they even manage a sale in this situation? Short sale? Is selling the right thing to do? I feel for them

Apr 13, 2016 03:46 AM
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ


Community stats, market adjustment then allow the owner to place value by assessing the tangible assets of the home using the CIS Score.

Of course Z-devils number, banks number and tax appraisers number is presented with "Which one do you want to believe and where do the think the truth is?"

They tend to choose the number whose origin they understand, the CIS Score.

What they paid in 2005 is irrelevant and they know that. They just need someone to actually TELL THEM THE TRUTH. The truth could be, if you don't have money in the bank, you will not be able to sell.

Apr 13, 2016 03:33 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

take a loss or live there until the property regains equity....or lose it to the bank!!! 

Apr 13, 2016 02:14 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Less of a pricing problem, more of a convincing problem.

May 19, 2017 09:23 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Our values are increasing like crazy around here, and could be a different answer in two months. 

Apr 16, 2016 10:20 AM
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Ultimately the seller prices the property.  I'll present comps and suggest a list price and expected sales price as well as how long it should take to be sold.

Apr 14, 2016 07:02 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

We call that a loss don’t we?  You still need to price at market value today.  What are the comps? That is how you price it. 

Apr 14, 2016 01:44 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Accurately based on Market Data!

Apr 14, 2016 12:25 AM
Roy Kelley
Retired - Gaithersburg, MD


Apr 13, 2016 11:09 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

According to the current market if you want to get it sold!

Apr 13, 2016 10:29 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Carefully and by asking lots of questions.  Do they really want to sell?  Need to sell?  Can sell?   

Apr 13, 2016 10:28 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Apr 13, 2016 09:25 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Obviously, that's too bad, too sad for the seller. But the numbers don't lie... you have to price based on recent comparables and with an eye towards knowing it will appraise for a buyer's loan. We all know that what a seller paid for a property "whenever" has no bearing on what it's worth today.

Apr 13, 2016 09:09 PM
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

The seller sets the price. But if you are asking how I consult to get a reasonable starting price, I educate them if needed before we discuss price. We go over what the proerty may appraise for and what comparable properties have sold for recently. If the sellers still need a reality check I ask for an appraisal. If a buyer can't get the financing the house won't sell unless you market is hot with cash buyers.

Apr 13, 2016 06:53 PM
Val Evans
Scottsdale, AZ

Get several opinions then find the mean.

Apr 13, 2016 01:53 PM
Toronto, ON

Using valid information and other factors.

Apr 13, 2016 01:03 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

You ought to try pricing in my area. It's extremely rural and there are no similar properties. I just listed a unique stone and wood home on 78 acres with a sauna and a studio. That was tough. I was worried about under pricing it, but since it's been a month +, and we haven't had an offer, I don't think under pricing is a problem. 

Apr 13, 2016 12:54 PM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

2005 has bounced back in San Diego, so they need to short sale it or have the seller cover the difference with cash, wait for the market....or you walk!


Apr 13, 2016 12:16 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN


Apr 13, 2016 12:04 PM