Real Estate Darwinism

The Long Beach Real Estate Home Blog is pleased to welcome guest author, Portsmouth New Hampshire Realtor, Ann Cummings.

Are you a Long Beach homeowner thinking of selling your home or condo?   

Just as correctly pricing homes in the Portsmouth NH area is super important in this market, proper pricing from the start for Long Beach condos and homes is vital as well. 

The asking price you and your professional REALTOR set on your home or condo is the single most important component of getting your home or condo sold.  We all know the  condition and the location are both key components, however the price you put on your property is the critical factor as that takes into account both location and condition. 

To help you determine the correct price for today's market, you need the advice from a full-time experienced REALTOR.  Your Long Beach REALTOR® will use their experience, knowledge of the market place and market conditions, and their professional track record to provide you with a market proposal which will help you to both come up with a competitive position for your property.


The factors that go into determining the best competitive pricing position for your property are:

• Condition of your home or condo
• Location of your property
• Market conditions at that time
• Any repairs and/or improvements that might be needed
• Your motivation level and your time frame for selling

Your initial market position - asking price - will determine your success in getting your home or condo sold. 


If your price is too high, all the best marketing efforts in the world won't get that property sold.  Buyers aren't dumb, and neither are their agents - both will recognize that the price is just wrong. 


Here are some big areas of concern if your Long Beach condo or home comes on the market in the wrong pricing position:

• Those buyers who are already in the market will know right away the price is wrong - they've been looking and know the market.
• Area REALTORS will be reluctant to show your property because there are too many other properties to choose from that may be priced better.
• You'll end up staying on the market longer than you would have had you priced it correctly to start with - and this will cause buyers to wonder what's wrong with your property because it hasn't sold yet.
• Longer stays on the market need repositioning - price adjustments - just to get showings. And extended stays on the market usually end up costing you more money in carrying costs, lost opportunities, and more. We refer to that as "Chasing the Market Down".
• Even if you did find a buyer who, for whatever reason, chose to pay the too-high price, the bank or mortgage company's appraiser will likely cause the sale to be re-negotiated. Lenders today are not interested at all in lending money on properties that are not priced properly for the market conditions. And this could lead to financing falling apart for that buyer who wants to buy your home.

Long Beach California REALTOR, Laurie Manny, wrote an excellent article for consumers in her Downtown Long Beach Market that applies to real estate sellers everywhere. Her article is entitled, "The 7 Dangers of Overpricing Your Long Beach Homes and Condos", and is a great for anyone thinking of selling their home or condo.


Experienced professional REALTORS are in the know about the current market conditions - and this is the perfect reason why you should have a professional work with you to get your Long Beach CA home or condo SOLD!

Contributed by:  Ann Cummings - Portsmouth NH REALTOR of RE/MAX Coast to Coast Properties - specializing in Portsmouth New Hampshire Real Estate Homes Condos.

Thank you Ann!

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