Every once in a while we see a new listing come into the market where the pricing just doesn’t make any sense…especially in the Annapolis MD Real Estate market as it is in 2008.

A new Crofton home for sale appeared in the MLS a couple of days ago and by most pricing standards it sure does look like it’s overpriced by about $50,000.  Overpricing by that much in this market is a sure death knell to sell the listing.  Of course we would like to see it in our community but we’re just not there yet. 

Crofton MD real estate hasn’t seen the abysmal downturn that other parts of the country have but we’re also not in a hot sellers market either. 

Looking into the tax records it seems that the current owner purchased the house during the hottest part of the sellers market a few years ago.  I’m sure they’re just trying to recover their original sales price plus whatever brokerage fees and recording and transfer taxes will be due but I think they’re in for a sad awakening.  Buyers are much more sophisticated today to fall for the old pricing scheme of listing high so we have room to negotiate.  During the hot sellers market buyers didn’t want to waste their time making an offer that wasn’t full price…or higher.  That certainly isn’t the norm today in the market.  Offers are routinely made that are so far off the list price sometimes it’s embarrassing.  Great for the buyer if they can get it, not so great for the seller if that’s the only offer that’s come in on the house. 

The market will change again, it always does, but price is the most important factor in selling a Crofton home today. 

Pricing $50K over where it should be is not a good strategy and will only lead to disappointment.