Category: Market Updates

good morning oh he didn’t sit down yet sit down fast when you’re in the room with her I know well I’m ready to go I’m ready I’m I’m chop chop chop loaded for bear I’m loaded for bear chop chop chop let’s go let’s hit it yeah it hello this is Diana and Randle bro coming to you from Prescot Arizona we are your local husband and wife team realtor team here to help you and uh today we want to talk about I’m going to say c word stats yeah there you go one in particular I wanted to to mention today I’m kind of the numbers guy in our little Duo here uh some of you might get my uh my monthly uh uh Market updates if you’re not getting those you need to get those um subscribe yeah it’s good stuff it’ll it’ll it’ll put you ahead of 99% of the people are watching the uh watching the stats here in presc but there’s one stat that just irks me so I had to talk about it uhoh yeah and that is the sales to list price ratio so the idea behind the stat is if you’ve got a good Agent they get you your list price and if they get less than list price that’s not so good so a good agent would be one that has 100% you know meaning they always get the list price for you or 105% you know they actually get over list price that’s not right well here’s the thing that doesn’t happen if you want to get I can get you uh I can guarantee that I will get you above list price on your home I’m going to price it at $100 I was thinken to myself what what are you talking about there is no law there’s there’s no formal mechanism to set the price on a home yes and a lot of times people screw it up either too high too low uh they really don’t know what they’re doing and the list price is it’s just a number that somebody made up whether it’s the seller or the agent there’s no reason to believe that it’s a good number necessarily now in practice most of them are reasonable we’ve been seeing a lot of very unreasonable selling uh uh list prices because I think sellers are still spoiled from covid they think the world hasn’t changed they’re just you know living in their own little virtual world uh but this is something you need to be careful about if you’re going to sell your home and you have an agent that comes in and says I always get over list probably pricing the homes too low red flag red flag red flag this is not a stat to hang a hat on now if you want to look at the stat like when we are we have a buyer that’s coming in and we want to place uh place an offer make an offer on a home in a certain neighborhood I might look to see if the homes are coming in around list or they’re discounting just to give us some sense of how low we could go in I mean there are times when you might use it but people are using it as The Benchmark to to judge agents by and uh the ones that are going to do the best are the ones that are going to under underprice your home so a stat you need to be aware of also overpricing uh and I know some sellers are quite adamant I must have this price period yeah and I think it’s worth us well I’m going to give you a little example just because you have a view doesn’t mean the house is worth a million dollars particularly if it’s only 1,800 square feet and well it depends on the neighborhood I guess there are homes that are 1,800 square feet that might be worth more than I don’t know but a view does not constitute there’s a lot that goes into pricing it goes by your square footage it goes by the condition of the home just because you have an astonishing View and you have a shack that’s only 200 square feet does not mean you can command a million dollars so you need to be aware come on you know you got to have yeah the house down the street might have gone for over a million but it was also 3,200 square feet and you’re only 1,800 square footage matters folks it’s not all the view okay A View does not just to close the loop on views um typically in Prescot if there’s the same home home A and home B they’re exactly the same except one has a magnificent View and the other one doesn’t let’s say B’s the one with the view be will probably go for about $75,000 more than 75 maybe to 100 that’s it maybe to 100 now views were really going for a premium during covid because people were stuck at home and they had nothing to do but look out the window so uh you know views that were commanding big premiums but I find they’re back 100 really less than 100,000 now yeah it’s not yeah so you you have to be very careful if you don’t have a view don’t be expecting oh I’m going to get 900,000 I’m going to get 800,000 and your backyard backs up to a wall now we’re talking presc if you’re living in California or someplace like that that’s something different we’re talking in our Market okay so be very careful um some people are like but I have a magnificent View and I think my house is worth over a million if it’s only 15600 1,800 square feet no it isn’t you’re not going to get it you can’t command it um just because of the view so keep that in mind I mean that’s another you know um stat yeah stat stat yeah we have some more of these I like these I like the I like calling out yeah I like saying Bull and you know we try to uh help our Sellers and just give it to them straight do you want to sell or do you want to sit in the market and go stale yeah you know it’s we just know we run cops we don’t just pull a number yeah out of the air yeah we really look at each particular neighborhood the right price is important correct we’re not doing doing a comp from Prescot Lakes compared to a comp and and and pulling in hampa we are doing our comps we do right you I mean we we comp Apples to Apples we’re not doing apples and oranges and pretending you could get more we give it to you straight and uh we help you sell in in a in a pretty good time so anyway keep that in mind when you have all these crazy stats floating around we’re going to try to guide you and give it to you correctly and we do the math numbers don’t lie don’t they don’t lie and and more than that our approach to numbers is not to be Dazzle you with our Wizardry we want you to understand the numbers yes if we’re telling you the price is too high we’ll show you why we think the price is time in a way that you’re going to you’re going to be able to see it you know just from the analysis so that’s our approach so yeah so we’re here to help you and guide you and we hope that you follow our advice so it’s a pleasant and easy process for you when you’re not doing lot of hand ringing if it sits on the market too long we’re here to make this process easy for you and it’s less you know at least stressfree right yep absolutely as possible that’s what it’s all about you know because it’s not a good time to sell your house everybody knows that it’s very stressful it’s not fun so um watch out for watch out for those stats that we mentioned those are our tip of the day that’s it uh if you like tips we got plenty for you just go to pickle 411.com that is our free information site whether you’re a buyer seller or somewhere in between there’s something there waiting for you that’s right that will Amaze Astound educate and Destroy uh just prevaricate I I don’t know prevaricate oh that’s a big word yeah I’m just making words I’m impressed absolutely free he’ll do all those things to you absolutely free absolutely free all right my friends thank you for listening and we appreciate you letting us uh get in our little Soap Box yeah there you go how about math no less yeah you know that k no not really not for me but anyway we appreciate it and we hope if you’re coming to presid soon you’ll look us up we’d love to take you around and show you what our beautiful town is all about absolutely hope to hear from you soon take care bye bye