The Price Must Be Right for the Chicago Home to Sell
My two-year-old Jackson was waxing philosophical this morning.
The side lot was strewn with twigs and branches that rained down during what I assume was a heavy downpour last night. Peering out from the back porch over his bowl of fruit and cereal Jackson said, “Market time is like grass in the rain.”
Actually his words were a bit more muffled coming as they were from a mouth full of food and said by a toddler. After a second of lexicon recognition I nodded my head and recognized the wisdom of what he was saying.
Grass in the rain (like we have had this year in Chicago) tends to grow long. Meanwhile listings in the current Chicago real estate market themselves grow long in terms of length of time on the market.
From the mouths of babes and all of that I turned to my first-born son and waited for more pearls.
I didn’t have to wait long as he then uttered unequivocally “Long grass cut!”
Hmm, I thought to myself, whether deftly or roughly applied, this means price your Chicago home to sell. That’s certainly something the team at The Real Estate Lounge Chicago holds to be true.
And this means price it right.
It also means that taking a little off the top (reducing the price) will some times be appropriate and necessary.
At this point I was mesmerized by the sagacity of my son. Three months shy of his third birthday and he was proffering secrets of the trade that seasoned realtors sometimes neither perceive nor understand.
Tempering myself to not be gluttonous nor greedy with the kernels of wisdom dispensed by Jackson I inhaled slowly to maintain my patience. But foremost in my mind was the question – what more will he reveal?
By the same token, though, I mused to myself – what more does he need to reveal? The bottom line in the current market is that right-priced properties sell. The only question is how long it will take to achieve the sale.
As a group of my friends from a different forum like to say (and with applicability here) “sometimes quickly, sometimes slowly.”
Which is true in the here and now. Even when we are right-priced at times we need to hold course with fair value pricing until the right buyer arrives.
Comforted by these caveats Jackson and I settled down to enjoy the remainder of Sunday morning, he with his yogurt montage and me with my metropolis coffee.
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