But more than that, the sellers – whose home was more than 30-years-old – had made substantial renovations and additions, commissioning top area contractors to do the work.

They had all pertinent inspections done prior to listing and promptly addressed any small issue that arose. They had their home appraised. They called on an area expert to de-clutter and stage the home. And even with three young boys, they managed to turn their home into a house for the buyers to view.

We priced their property at its appraisal value, using the square foot price of a nearby home that sold 8 weeks earlier. That home, just a few blocks away – didn’t offer buyers as much as my clients’ home, which had a better location, better amenities and more space.

If ever there was a home that could get away with pricing at appraised value, rather than below appraised value, my clients’ home was it.

Once listed, we blew the horn and beat the drum through broker events, print advertisements, virtual tours, online blogs and good old-fashioned jawboning.

Buyer agents came with buyers, even previewing the home for out-of-town clients. The reviews were stellar. Online inquiries were abundant. All signs gave us reason to expect that a contract would be just around the corner.

Except it wasn’t.

Since 2007, when inventory levels for homes started building up and values readjusting downward, sellers have been asked to do a lot more to be competitive in a buyer-driven market. Inventory levels at the higher end of our local market (over $400,000 where this home was priced) posed more challenges for sellers than homes in the $150,000 – $300,000 range.

My sellers were smart enough to understand the market dynamics and the buyer psychology. They knew, in other words, an adjustment would have to be made. They wanted to get their home sold.

We didn’t just tweak the price. We dropped it 10%! Remember, this is a house we are talking about, not clothing in a department store. A price drop of 10% is a meaningful and attention-grabbing reduction on a house that was originally priced at appraised value. Who wouldn’t want a chance to purchase this home at 10% below appraisal?

That price drop did the trick.

There was a strong increase in showing appointments and the sellers soon got multiple offers. Two came in very close to the adjusted list price. Both offers were competitive, well thought out and similar in many important respects. Both buyers were asked to come back with their highest and best offer the following day.

After careful deliberation, and a profound sense of humility, the sellers selected one of the offers and went under contract. The final offer came in above the adjusted listing price.

I was so glad to see the sellers recoup a large portion of the price decrease they had agreed to and it was gratifying to them to know they’d made the right decision.

Of course, not all meaningful price adjustments will result in multiple offers, but this situation truly turned into a success story for all concerned.

The buyers will be closing on a property that they bought below market value in a neighborhood they want to be in. And the sellers felt like they won too.

I’ve never been mistaken for a riverboat gambler but I understand what it means to increase your odds. Our sellers increased their odds of procuring an offer where there was none.

More than anything the sellers’ ability to adjust their price to a below market value proved to be the single biggest game changer. It made the difference between their waiting indefinitely for that “just around the corner” contract to appear and being able to move on to the next chapter in their lives.

Bill Sahadi, CRS, (Certified Residential Specialist) is the Broker/Owner at Fore Properties in Southern Pines, N.C. and can be reached at bsahadi@foreproperties.com orr www.foreproperties.com/radio

Bill Sahadi, CRS
Fore Properties
910-638-0888
910-692-4211
Fax 910-692-4219
www.foreproperties.com

The Village House hosts 4 dining venues: formal dining, informal dining, a private dining room, and a pub complete with a billiard room. Several activity rooms, a library, a movie theatre, a hair salon and the Grand Hall which seats 300 people round out the space.

The research shows that we can age successfully when we exercise our bodies, minds, and spirits, and Penick Village is implementing programs to help residents in each of those areas. Providing residents on-site exercise classes and a membership to FirstHealth Fitness and Wellness Center as well as golf at area courses, bringing in speakers on various topics, coordinating book clubs, and other learning opportunities, they are on the cutting edge of providing choice to residents in Moore County. For additional information call Penick Village 910 692-0386.

The sole purpose of the Professional Women’s Network is to support women in the accomplishments of their goals and practice by interacting with fellow professionals.  PWN meets the 2^nd Thursday of each month at the Pinehurst Members Club.  Networking begins at 11:30am with an open forum and lunch is served at 12pm while a high caliber speaker discusses specific issues that pertain to women today and educates our group about local programs or needs.

Community involvement and local support is a big drive for the ladies of the Professional Women’s Network.  Again this year, they decided to be a supporter of the Moore County Literacy’s Spelling Bee as one of the 22 teams competing.  Last year the team of PWN won best costume for dressing as the 1980’s movie characters from 9 to 5.  For 2011, PWN had a different goal for the spelling bee: they wanted to help the Moore County Literacy Council (MCLC) by raising the most money for their large fundraiser.  This year’s team for PWN dressed as the ladies-version of The Good, The Bad & The Ugly.  The members of PWN achieved their goal and earned the Keep the Hive Alive Award from MCLC’s Spelling Bee.  Right now, the ladies of PWN are recruiting clothing donations (both professional and casual attire for women) that will be distributed to the Bethany House, as well as SJP’s Mobile Health Unit.  The goal of this clothing drive is to assist women by offering them a chance for empowerment and opportunity within the business world.  PWN has chosen their October meeting to support breast cancer, as this is an important issue facing all women.

Membership to this wonderful group is only $45, which includes speakers for each month, networking with a dynamic variety of professional women, as well as our December Holiday Dinner at the Members Club.  If interested in joining, learning more or to donate to the clothing drive campaign, please feel free to contact the Professional Women’s Network at the following locations and one of the members will contact you directly. Website: www.professionalwomensnet.org, on Facebook: www.facebook.com/PWNMooreCounty, or email to membership@professionalwomensnet.org.  The members of the Professional Women’s Network of Moore County invite you to join them for a wonderful lunch, a great program and fellowship among vibrant women.

Bill Sahadi, CRS
Fore Properties
910-638-0888
910-692-4211
Fax 910-692-4219
www.foreproperties.com

Bill Sahadi, CRS
Fore Properties
910-638-0888
910-692-4211
Fax 910-692-4219
www.foreproperties.com