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How Prices Are Right

September 30, 1990

In response to a letter "The Price Is Not Right" by Kay Williams (Sept. 9), I find it hard to believe Ms. Williams could be so uninformed. Does she truly believe brokers and agents set the prices on these properties? If she was told that there were multiple offers on the homes she was interested in, they obviously were not overpriced.

When agents lists a house, they take the comparables in that area for a six-month period, allowing for the number of bedrooms, square footage, improvements, etc. Then you arrive at an average selling price--based on what has sold in that neighborhood in the last six months, which is exactly what an independent appraiser or a lender will do.

Of course, the seller wants top dollar for his property, just as Ms. Williams would if she sold. The bottom line is your home is worth whatever someone will pay for it, and each seller has a right to a good return on his investment. Overpriced houses are not sellable houses--no one makes money that way.

GLORIA PEREZ

Arcadia

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