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In the real estate world, a large group of people are looking to buy homes at any given time. These are the seller's best prospects. This ready group of buyers is wasted, however, if your house is overpriced.
People who have been shopping around and are accustomed to comparing properties will probably refuse to look at your home with an unrealistic price tag. You and your real estate agent may know that you would sell for $10,000 less, but the buyers do not know this. As a result, your overpriced property receives little attention.
Don't be fooled into thinking that your house is worth more than someone is willing to pay for it, or that it's just a matter of waiting for the "right" buyer to show up. Surveys show that the longer a house is on the market before being sold, the greater the drop in price from the listing price when it does sell. The buying public eventually sets an accurate price. An overpriced house just sits on the market, waiting for a price adjustment before it will attract a buyer.
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| Q |
Who is "Fannie Mae" and why is she a big name in real estate?
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| A |
"Fannie Mae" is the real estate industry nickname for FNMA, or Federal National Mortgage Association, the stockholder-owned corporation that purchases mortgages from mortgage lenders. |
See More Real Estate Trivia > |
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Verna Gerber Century21 Bradley 6357 Constitution Drive Ft. Wayne, IN 46804 Office: 260-436-8888 Fax: 260-436-8882 Contact us:: resource@premierfortwayne.com
Verna Gerber and The premier team is ready to respond promptly and professionally. Service. Premier Team is a part of Century 21 Bradley, one of the largest real estate companies in the Fort Wayne area. When you choose us to represent you in buying or selling a home, you can be assured that you will be represented with the personal attention you deserve and supported by the national exposure of an industry leader. Buying. Today's technology allows us to reach millions of qualified prospective buyers and sellers worldwide in real time. 
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