There are many Sequim homes for sale and nearly all of them are listed with a Realtor in the MLS. There are a few homes on the market that are FSBOs (for sale by owners), but these are not in the Olympic Listing Service (our local MLS), so they don’t get the broad promotion on the Internet. Most buyers are not even finding the FSBOs, and probably 98% of buyers are looking on real estate agent sites to search the MLS (or affiliate sites where the listings show up). So my question is focused on listed properties. Are Sequim homes for sale that are listed in the MLS too high or too low?
My answer won’t surprise anyone who has been looking in our MLS and comparing homes and prices. Some listings are over priced, and some listings are listed at a very reasonable price. I’ll explain.
I’ve shown some houses to out-of-state buyers that both my client and I thought were over priced, and some were perhaps $90,000 to as much as $200,000 over priced. Now this isn’t a mathematical science, so no onc prove that a home is over or under priced by a precise dollar amount. But what we can do is compare a home to dozens of other similar homes, and the average buyer gets a pretty darn good feel as to whether a home is priced fairly in this market.
On the other hand, there are many homes listed that are currently listed at very reasonable prices, even in this real estate recession. I have a home listed on Bell Hill right now that is getting a tremendous amount of attention, and it is because it is priced so reasonable. [See Sequim Bell Hill Home for Sale] Of course, Bell Hill in Sequim is a popular area, and many of the homes have gorgeous water or mountain or valley views, and so if a nice home is priced right on Bell Hill, it is going to get some attention.
The Sequim real estate market is not perfectly balanced when it comes to pricing. Some homes are listed at low prices and some are listed at high prices. Your mission, should you choose to accept it, is to find your ideal home and negotiate to get it at a price you know is a great price.
Last Updated on July 27, 2012 by Chuck Marunde
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