There is little doubt that Sellers and Buyers have decidedly different points of view when it comes to value (particularly in the current market).
For Sellers, even though it’s your home and you probably think it’s nicer than any other home in the neighborhood, it’s important to recognize that it’s probably not worth significantly more than others in the neighborhood.
For Buyers, even though inventory levels are higher than normal creating what is referred to as a “buyer’s market,” you cannot steal a house. While the Seller is motivated, they won’t give their home away. A Seller often will not even counter a really low ball offer. So take advantage of the higher than normal level of inventory and plan to negotiate a good deal, not a steal.
I recently received an email with photos of how Sellers and Buyers view a home which I thought was funny and further make the point of expectations.
How the Seller views their home:
How the Buyer views your home:
The bottom line is that while there are plenty of homes for sale in New Albany, Ohio, this isn’t a resort market with plummeting prices and there aren’t foreclosures on every block as the media would have you believe. It’s fair to say that while we have a challenging market, the New Albany real estate market is better than many other markets around the country, including Ohio and the greater Columbus area.