Tuesday, March 6, 2012

Reasons to Take a Second Look at Overpriced Homes in Evanston

Entering March, there’s great hope that a beautiful spring in Evanston won’t be too far behind.  For many, it’s the time to begin freshening up their outdoor space and to begin home projects that were put off during the winter months.  As Evanston Real Estate agents, we’re gearing up for a busier time in the Evanston Real Estate market as sellers put their homes on the market and buyers begin their Evanston home search.
If you’re considering buying a home this spring, you may have already been browsing online for available homes in Evanston.  And, while you may have found your dream home, you’ve come to find that it’s overpriced and you may feel like beginning your search all over again.  Yet, oftentimes the homes that are overpriced are worth a second look!
Overpriced homes tend to sit on the market because buyers tend to avoid these home altogether.  They notice that the price hasn’t moved and may even begin to wonder if there’s something wrong with the home.  The longer a home sits on the market, the less interest it receives from buyers.  Below are a few common reasons buyers shy away from overpriced homes. 
- Fear of Offending the Seller- Buyers may feel that a significantly low offer on an Evanston home would completely offend the seller. The buyer may also feel embarrassed that they attempted such a low offer and may be convinced that the seller would never accept.
- The Price is Solid- Buyers may think that they seller is already aware that the home is overpriced. They think that if the seller was anxious to sell, they would have lowered the price and that perhaps the seller is solid on the listing price and not willing to budge.
- Offers Have Been Turned Down- If an overpriced home has not moved at all in price, those interested assume that lower offers have been made and the seller has simply turned them down. The reality could be that, in fact, no offers have been made.
We hope that as you read through these reasons, you’re encouraged.  That beautiful Evanston home that seems to fit your needs and lifestyle perfectly may be the home for you!  If the overpriced home has sat on the Evanston Real Estate market for some time, they may be willing to rethink their price.  The seller may even be feeling the increase in competition as the spring market approaches and may welcome an offer at a lower price point.
If you would like to take a closer look at a few of the Evanston homes you’ve had your eye on; let us know!  We would be happy to talk with you about your real estate needs and show you some of the comparable homes in Evanston and their list price.  This would help us determine a fair offer for the overpriced home and give greater insight into the current Evanston Real Estate market.
Please feel free to contact us today to get started.  We look forward to working with you as you give your ideal home a second look!

The Thomas Team
Chicago's #1 Real Estate Brokerage

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