Although the economy isn't the best right now, New Hampshire's real estate market is stronger in pockets than many regions of the country. If you are serious about making a move remember that an inflated list price will end up costing you money in the long run. It will definitely cost you time and time is money in the real estate world.
If you are buying up or down or making a lifestyle change, what you might perceive as a loss on your property due to the current market values will be the same perception that the seller of the property you would like to pursue feels. We call this a lateral value move in a market such as this. If, as a seller, you dig your heels in and try to hold out for what your think your property's value is rather than listing at your property's real value, you can expect fewer showings, low or no offers, and months upon months of having your property listed. During that time, you will make mortgage payments, pay real estate taxes, pay insurance premiums and continue to maintain the property to stay in "show condition".
How do you price your farm?
You cannot rely on asking prices you see advertised to set your list price, nor should your listing agent. Only the final price and terms of a sale determine true market value.
When buyer activity slows or is non-existent, sellers reduce their listing prices to attract buyers and continue to do so until the buying public responds. It’s pure economics.
Do not misconstrue our message as asking you to under price your farm for a quick sale. Nothing is further from the truth. Farms & Barns' sellers continue to enjoy some of the highest sale prices within their communities around New Hampshire-price your property correctly and it will sell! As a rule, specialty farm sales are in proportion to general market sales. Large farms take a bit longer to close than residential real estate simply because there are fewer buyers in this specialty market.
At Farms & Barns, we are dedicated to our Clients’ interests, first and foremost. We pledge to:
1. Provide you with an honest evaluation of your property, based on fact. You will be armed with detailed information to make an informed decision as to what your list price should be. You base your future plans on what your real estate professional recommends and you should be assured that it is as accurate as possible.
2. Provide you with a superior marketing plan. Our marketing works. Let us review what we do for our Sellers that outshines our competition.
3. Bring you the highest price that the market will bear. We sell more farm listings than anyone else in New Hampshire. Our listings sell for more because they are priced correctly, bringing you a quicker sale at a higher price.
Everyone here at Farms & Barns has been a seller at one time or another and we understand that a high listing price is very enticing. The fact is that majority of grossly overpriced properties just never sell. There are a few that eventually do sell and net the sellers less than if they had listed closer to true market value in the beginning. We have strong data to back this up.
We admit that we have lost listings to other firms because our realistic pricing was lower than our competitors' at the onset. Some of you have met with us in the past and it is likely that your farm’s price has since been reduced (maybe more than once) and is now edging closer to the list price range we gave you. When the time is right, call us.
We strictly abide by Our Realtor Code of Ethics. We will never waiver from our duties to you. From our Code of Ethics:
-Standard of Practice 1-3
REALTORS®, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.
