Selling your Los Gatos house should include a detail marketing plan which includes property preparation, inspections (if any), market data on pricing, recent sales, foreclosure activity, rental survey in addition to the agent’s experience in the local market. This marketing plan should include what you will do if you are not getting the offers you anticipated. Will you chase the market by dropping your price?
Have you communicated effectively with your agent about your expectation from the marketing plan? Do you have a Plan B if you home does NOT sell for the price you want. Are you and your agent on the same page as far as the pricing strategy?! Allow me to illustrate about a current Listing which is on the next street from our house on where the owner had unreasonable expectations on price and would not consider our offer of $1.2M in cash prior to listing his property.
The owner insisted that he wanted to net $1.6M which is the current list price. Contrary to other homes which are selling in one week, this listing has now been on the market for 2 weeks. But the numbers do not lie. The Price Per Square Feet of this home is $1,266 vs the near by home! In fact a brand new home nearby is selling for $853 per square feet compared to this 69 year old tear down!
|Address||Price||DOM||Beds||Baths (F|P)||SqFt||Lot Size||City||Age||Price/Sq||Lot Price|
|16442 HILOW ROAD||$1,099,990||11||2||1|0||1,118||11,524||Los Gatos||99||$984||$95|
|16600 ENGLEWOOD AVE||$1,600,000||12||3||1|0||1,264||12,752||Los Gatos||66||$1,266||$125|
|16828 KENNEDY ROAD||$1,995,000||9||3||2|2||2,558||16,700||Los Gatos||25||$780||$119|
|16699 KENNEDY ROAD||$2,895,000||79||4||3|0||3,392||11,533||Los Gatos||0||$853||$251|
If this is not a clear case of tail wagging the dog, we don’t know what is! So, we feel sorry for this seasoned Alain Pinel agent who has this listing who by all accounts knows the market.
Feel Free to Contact Us if you have any more questions about this listing or any other Los Gatos property.