Posted on Thursday February 10, 2011 4:57 PM
by Joseph Kazickas Comments Off

“The sky is falling!” clucked the voice on the other end of the phone. Wall St. is in flames. Total compensation is down, way down, across the industry… up to 45% less at certain big shops like Morgan, Deutsche Bank, among others, for analysts, brokers and other finance types. Chicken Little continued, ” The young aspirational Wall Street buyer is gone for good. Rentals will suffer terribly!” Hummmmmhh? Well maybe. Sort of two minds about this. So have the greedy kids on Wall Street finally been hoisted on their own petard? That’s a good thing, right? But oh no! Now they have decidedly less money to spend!

A View of the Market?

A view of the market?

It’s true. It will effect our market. So how should a seller interpret this news? Firstly, look in the mirror and decide whether or not you are serious about selling. Try to ignore excuse making, like the offer you didn’t take from ’08, ¬†or “Of course I could sell it for that, but it’s less than I owe.” Be honest. If you decide the answer is yes find a way to price your home to the market. This is important. Ask a realtor for their opinion. Be ready to negotiate offers. Focus on the freedom you will feel once you have sold the house and moved on to your next project!