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XML FeedsAnd if I read that remark in the Charlotte NC MLS or in someone's marketing one more time, I may just lose it.
We, as real estate professionals, wonder why in the world we are not taken seriously. May I suggest that we have done this to ourselves? If a house truly has instant equity, you could turn around and sell it again the next day-heck the same afternoon!-for more money.
But that scenario really doesn't exist in the marketplace right now. (with a few exceptions, but they're very few) Of course, I'm only speaking of the real estate market here in the Charlotte NC area-your area may be different.
A house can, and will, sell if properly priced and properly conditioned. I think we all know that. But our buyers are savvy. They're shopping the available inventory to make an educated decision about what to do in the purchase. At least, I'd like to think that buyers are savvy. Bless their hearts, some aren't and they rely on the really bad advice of some builder reps and some agents in the marketplace.
I'm getting off topic, too many soapboxes to hop on. Anyway, I'm just tired of folks who are advertising "$30,000 in instant equity!" when it's really just a price reduction. Builder reps seem to be the worst, in their pretty little heads they are really convinced that they are offering the deal of the century on new construction in Charlotte NC. And it confuses buyers. Even the savvy ones get those big numbers stuck in their heads, and they start spending it...or they forget that it's okay to negotiate with the builder further.
I'll say it again: It's NOT 'instant equity'. It's a PRICE REDUCTION.
If that original price had been correct (see above), the house would have sold. It didn't sell, you offered the lower price, which makes it a price reduction. Call a spade a spade, and quit confusing people and creating these impressions of false hope. If they're getting a fair deal on a house, that's a good market. We all want increased equity over time. But it ain't INSTANT.
