{"id":142353,"date":"2025-03-18T21:10:37","date_gmt":"2025-03-18T21:10:37","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/sellers-anchors-to-higher-prices\/"},"modified":"2025-03-18T21:10:37","modified_gmt":"2025-03-18T21:10:37","slug":"sellers-anchors-to-higher-prices","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=142353","title":{"rendered":"Sellers&#8217; Anchors to Higher Prices"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"wpb_wrapper\">\n<p style=\"text-align: left;\">Sellers naturally think a lot of their houses \u2014 it\u2019s their home, where they\u2019ve made memories, raised kids and\/or pets (or themselves).<\/p>\n<p style=\"text-align: left;\">The hard part is telling a seller client that their product is not worth what they thought it was, whether I\u2019m representing the buyer or the seller.<\/p>\n<p>Home prices are sticky, in part because most sellers don\u2019t move every 7 months or 7 years. They pay attention to their market, and pay particular attention to the highest price for homes that have sold near them \u2014 and <strong>that price is their anchor.<\/strong><\/p>\n<p>Sometimes, the potential market\/sales price may be higher, sometimes lower. Everything depends on the market when you list or buy your home. A few things that might be different between now and when you saw that high price:<\/p>\n<ul>\n<li>Interest rates<\/li>\n<li>Inventory might be higher or lower<\/li>\n<li>Similar houses near you might have sold for more or less<\/li>\n<li>That high price house might have had upgrades or interior finishes that you didn\u2019t know about<\/li>\n<li>The right buyer under pressure might have come to town on that particular weekend after receiving a windfall on their house in their market, and the Charlottesville area home prices are *cheap* comparatively.<\/li>\n<\/ul>\n<p>You just never know until you start the research.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div>\n<div class=\"wpb_wrapper\">\n<p>Emotions matter when negotiating peoples\u2019 homes and investments. I acknowledge and appreciate the feelings, and let the data make the argument.<\/p>\n<h4><a href=\"https:\/\/www.realcentralva.com\/2022\/03\/07\/monthly-note-archives-february-2022\/\"><strong>Price Matters<\/strong><\/a><\/h4>\n<p><em>Or, the two weekends of disappointment theory.<\/em><\/p>\n<p><strong>For the past several years, this theory has held.<\/strong><\/p>\n<p>If you\u2019re not under contract after the first two weekends, you might be overpriced. In other words, if you\u2019re not under contract after the first two weekends, a price reduction might be in order, because today\u2019s buyers are watching the market in their specific market segment like proverbial hawks. They know the market.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div>\n<div class=\"wpb_wrapper\">\n<p>In the Charlottesville area market, and most of the United States and much of the world, there simply are not enough homes \u2013 that are right-sized for the buyer demand \u2013\u00a0 to satisfy demand. People are staying in their homes longer than ever.<\/p>\n<h3 style=\"text-align: center;\"><strong><a href=\"https:\/\/blog.altosresearch.com\/the-great-stay-why-homeowners-are-staying-put\"><span id=\"hs_cos_wrapper_post_body\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_rich_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"rich_text\">\u201cIn other words, it\u2019s very cheap to not sell my house. Again, this is the Great Stay. <\/span><\/a>\u201c<\/strong><\/h3>\n<p>Hopefully, home prices will stabilize and not have 5% \u2013 20% appreciation year over year. Society will benefit.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Sellers naturally think a lot of their houses \u2014 it\u2019s their home, where they\u2019ve made memories, raised kids and\/or pets (or themselves). The hard part is telling a seller client that their product is not worth what they thought it was, whether I\u2019m representing the buyer or the seller. Home prices are sticky, in part [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":142354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[46992,11029,11567,9716],"dealstore":[],"offerexpiration":[],"class_list":["post-142353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-anchors","tag-higher","tag-prices","tag-sellers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sellers&#039; Anchors to Higher Prices - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=142353\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sellers&#039; Anchors to Higher Prices - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Sellers naturally think a lot of their houses \u2014 it\u2019s their home, where they\u2019ve made memories, raised kids and\/or pets (or themselves). The hard part is telling a seller client that their product is not worth what they thought it was, whether I\u2019m representing the buyer or the seller. 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