In this market I am often called upon to deliver sobering news. It's not so much that values went down as much as it is that they are simply lower than many sellers think they are. We have not seen the double digit growth of years past and selling a home only 3 or 4 years after you buy it, may not be a winning proposition. Your home served you as such, provided tax benefits, and not unlike shelter is a necessity of life.
When someone decides to sell their home, they more than likely interview a Realtor or two. Who gets the deal and why is a bit of a mystery and probably varies from client to client. If there was a single thing, and I knew what it was, you can bet I would do that thing, unless that thing was tell them what they want to hear. I have been criticized and complimented (at about a 1:1 ratio) for my no nonsense approach to things. It probably earns me as much business as it costs me.
I viewed a potential listing yesterday and struggled with what to report back to the client. Their home is a fine home, but they moved away a few years ago. It has been rented out. Even good tenants are hard on a home. The owners more than likely have fond memories of the home and have long forgotten oddities and things in need of repair. So I reminded them in verse and photo montage. My suggested price also reflects the needs of the home. It is far more than they paid, but perhaps less than they had hoped, or others have told them? Only time will tell.
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