Spring follies: Some sellers shooting for fantasy prices
What in the world are they thinking?
Some sellers are shooting for the stars again when setting the price of their homes.
And frankly it both irks and baffles me at the same time.
Take a look around - you won't have to do much digging to find a good example.
I have a few in my hometown of Natick, where a colonial owner or two suddenly decided they are really living in Wellesley, where the median price is $835,088.
Buyers aren't falling for it - the Wellesley line is a mile or so to the east and a world away when it comes to what sellers can command. (Natick's median sale price, in case you were wondering, is $352,000.)
The guy down the street, by contrast, is under no such delusion - he put his split-level on for something over $500,000 and landed a buyer with a week or two.
I've written a couple times about bidding wars inside 128. But with the exception of a bubbly neighborhood and town or two, buyers are scrambling to put offers in on homes that are not just in decent shape, but also priced reasonably as well.
Sure, warmer weather is on its way and it looks like the threat of another Great Depression has receded.
But look, the spring of 2011 is not the time to let loose that inner optimist and gamble with the price of your home.
It's great to dream big - just don't do it when setting your listing price.
