Seller Success Story: HOLD
Richard purchased his first home with me as his buyer's agent a few months before the pandemic kicked off.
A new construction condo outside Davis Square in Somerville. Nothing quite like NEW. Well-built. Garage parking. Perfection!
After mostly living and working from home for 2+ years, Richard decides to relocate to the West Coast.
His condo will be the first re-sale in the new condo association.
Recent comparable sales events in the neighborhood support a list price above $1,000,000.
List price set. Property listed for sale. Open houses scheduled. We are on the market!
A few weeks later, we are still on the market.
Richard wonders what's wrong.
"Nothing is wrong," I say. "It's just that the market has shifted. Interest rates are higher. Not as many buyers are in the market. The red hot spring market is in the rear view mirror."
"So do we lower the price?" asks Richard.
"No," I say. "Not now. We HOLD. Be patient. Give it time."
And so we keep on keeping on. Additional showings. Additional open houses.
Six weeks after listing, we receive an offer. Negotiations commence. Richard and the buyer agree on a number. Offer accepted. Deal done.
"Charles, thank you for counseling patience. It paid off!"