Company News

May 14, 2012: Freid of Boston Realty Advisors and Nahigian of Auburndale Realty Co. handle lease for Hammond Pond Dental Associates, featured in the New England Real Estate Journal; Read More Download PDF

April 30, 2012: BRA names d'Hemecourt partner and president of retail real estate division, featured in the New England Real Estate Journal; Read More Download PDF

April 27, 2012: Boston Realty Advisors completes three leases in a single building, featured in the Banker and Tradesman; Read More Download PDF

April 23, 2012: Two Cambridge apt. buildings sell for $16M , featured in the Boston Business Journal; Read More Download PDF

April 20, 2012: Boston Realty Advisors Negotiates $16M Harvard Sq. Portfolio Trade, featured in the Real Reporter; Read More Download PDF

Market News

May 20, 2012: Attendees Expect 2012 RECon to Be the Best One Since 2007

May 19, 2012: Let the Dealmaking Begin

May 18, 2012: Mega Mixed-Use Development Planned for California Town

May 17, 2012: Lifestyle Centers Launch a Comeback

May 15, 2012: Tenant Incubators Take Off as Landlords Try to Fill Small Shop Space

May 15, 2012: Las Vegas Walgreens Garners a Record-Breaking $1,736 Per SF Price

May 11, 2012: Jones Lang LaSalle Becomes Agent for Florida Mall, Outlet Center

May 10, 2012: Bed Bath, Cost Plus Deal is a Surprise, But a Pleasant One

May 9, 2012: Seismic Industry Shifts Set the Stage for the Retail Real Estate World Summit

May 9, 2012: Tenants Fill New Abu Dhabi Shopping Center

Real Estate 101

Jason Weissman featured by CNN Money

Authors

Rob Cohen
Paul Santucci
Kristy Ganong
Jacqueline Cabral
Jason S. Weissman
Wil Catlin
Admin
Arianne Fitts-Napier
Guest Blogger
Lindsay Guittarr

All Posts

Boston & Northeast Buyers and Sellers Still at Odds Regarding Homeprices

It’s no secret that sellers and buyers have different opinions on what the price and value of a home on the market should be. Buyers seem to see the market as “half-full”, meaning that when they present an offer, they would also like to point out: how bad the economy is, how many other homes they can choose from, and look to data that shows a never ending declining housing market. Sellers (and their listing agents), sitting on the “half-full” side of the fence, are quick to show how: the economy is getting better, how much more valuable their home is than the rest, and that we are as close to the “bottom” of the housing market as we can be. In any given time in the market – a so-called sellers or buyers market - this is just standard negotiating artillery. Buyers never want to feel they are making an unwise investment and sellers feel they own a valuable investment commodity. But, maybe, just maybe, this divide in emotionally driven opinion is really what keeps more successful transactions from happening, even when the right buyer and right seller should be inking the deal.

In the Boston area, we pride ourselves on being in the hub of the intellectual universe. We are surrounded by the world’s top universities (Harvard, MIT, etc), innovative businesses, and the place where over 200 years ago, a tough and smart group of outmanned farmers defeated the most powerful empire on earth. Even transplants that arrive here seem in time to develop this chip on their shoulder the size of the State House’s golden dome.

Ok, what’s my point? Well, when it comes to arriving at an agreement, New Englanders are going to fight every inch along the way. In fact, they might not even agree with those on their own side!

HomeGain has just released their 4th Quarter 2009 Realtor Home Prices Survey Results - National and Regional. Here’s what they found:

1. 16% of people listing their homes in the Northeast feel that their Seller’s Agent has listed their home below it’s true worth. (As I said, sometimes those on the same team don’t even agree!)

2. Buyers in the Northeast feel that 91% of the homes they are looking at are overpriced.

I really don’t think this is shocking news, and as I said before, no matter what category of market we are in, sellers and buyers will feel extremely differently about home values. What is surprising is how many sellers think their agents are wrong about the price they listed their home at, even though they agreed to market it at that price.

What this does solidify is how important having a Real Estate professional on both sides of the table is. Does a buyer agent make the buyer more apt to make an unwise investment? Does a seller’s agent coerce a seller into giving their home away? In both cases, just the opposite is true. Seller and Buyer agents have invaluable information and sales data, in addition to experience and specific neighborhood insight they arm their clients with to make the right decisions along the way. Therefore, trust your agent’s guidance (or get a new one if you don’t!) – they are here to help you open up a new chapter in your life.

For more information about seller and buyer representation in the Boston area, contact Paul Santucci, Director of Boston Lofts: paul@bostonlofts.com

All graphics are copyright of HomeGain.

Posted at 12/11/2009 12:19 PM by Paul Santucci

Categories: Boston Real Estate, Sellers, Real Estate Sales Data, Boston Residential Real Estate

Comments

There are currently no comments.

Back to blog