I couldn't believe my ears. Barbara Corcoran, The Today Show real estate expert, is talking in general terms again and it is so frustrating. She went on "national" tv and told people they needed to list their homes at 10-15% below their values in order to sell the homes fast. WHAT?!!
If you take the Dallas average of about $185k, that's like listing the house at $157k. Do you really think the person in this price range has that type of equity in their home to be able to sell it for at that price? Probably over 95% of buyers would be in the red just at the initial asking price, and that doesn't include the closing costs and realtor commisions they would still need to pay.
Take Dallas' median price of about $145k and work the numbers the same. Yes, someone would love to buy that $145k house for only $123k, but how does that seller have money to pay their closing costs and also make a down payment on their new home?
This is one of the most obsurd suggestions I've heard of for "national" information. Pricing and selling is still localized and the Dallas market is still going strong. Most of the suburbs are selling at 96-98% of their asking price. Why price it 15% low to get a quick offer at full price when you are leaving thousands of dollars on the table, and can still sell quickly if priced and staged properly?
Talk with a Realtor who specializes in the market in which you live and please don't take national information as the only way to meet your goals.
By the way, here is a link to the interview.
Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!
ARE YOU PACKED YET?!