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Some Sellers Brave Housing Market Alone

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By LAURA CONE THE SUN

Published: December 17, 2008

When Hal Turner put his 1100-square-foot Sun City Center duplex on the market one year ago, he anticipated reeling in $129,000 like his neighbors who had recently sold.

But Turner quickly became one of the many fish in the sea of houses on the market in Sun City Center, and watched as the value of his home sank.

"I picked exactly the wrong time to sell," Turner said. "The very month I put it on, that's when the big slide started. I talked to both of these Realtors and they said you will have to knock the price down. They kept knocking it down."

Turner went through a couple of real estate agents before deciding to go it on his own. He has recently lowered the price of his 1973 duplex, which he keeps in immaculate condition, to $78,000.

"I have lowered it according to the market," he said. "There's no reason for me to knock it down to a ridiculous price just to get rid of it. I've seen some people who have just thrown their houses away, literally, price wise. I'm sure there are reasons. They had to sell. I don't have to sell it."

Turner said he wanted to save the money on real estate agent commission fees. He believes he has had as many bites on the property without a real estate agent as he did with one. All together, he has had about a dozen showings in a year's time.

Turner hopes to move to Virginia to be with his family.
Lexie Hagman, a real estate agent with A-1 Connection Realty, said although many people think they will save money by selling a home on their own, it could take even longer.

Also, Hagman said selling a home is more complicated than many people realize.

Sellers need to disclose whether the home owner association allows pets, the association's fees and other rules and regulations. Then there are the little details such as bringing a certified check - not a personal check - to the closing.

"We make sure it goes to closing, that there are no gaps," Hagman said. "We help with getting everything to the title company and protect them. We are there to protect both sides."

Hagman said oftentimes people call to get an opinion on a listing price for a home. Then they turn around and try to sell the property on their own.

"That's the chance you take in our profession," she said. "I truly believe you get more money if you hire a real estate agent and a lot less hassle."

In addition to being a mediator and achieving a successful close, according to Hagman, real estate agents can provide a morale boost during a difficult housing market.

"Buyers are going for lowest price or the very best looking unit," Hagman said. "You have to have your house looking spectacular or they will go down the road and buy the next one. It's tough to get sellers to realize how they have to spiff up their homes."

She said the value of many homes in the SCC area have dropped 30 or 40 percent compared to last year.

"It's unbelievable what they are selling for," she said, adding one home sold recently for $155,00 but was listed two years ago in the high $200,000 range.

"It's treacherous out there," Hagman said. "Anybody that bought their home in 2004, 2005, paid the inflated price. Any of those people needing to sell are in the hole. We have seen $50,000, $80,000, $100,000 they have eaten because of the situation. It's very sad on the seller's side. Everyone says we have not hit rock bottom, but most of the houses, by the time they sell, have hit rock bottom."

For information on A-1 Connection Realty, call (813) 633-2020. For more information on Hal Turner's property, call (813) 634-5929.

Editor Laura Cone may be reached at lcone@mediageneral.com.

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