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Price Key to Sale

May 19, 1991

This letter is for all home sellers. If your home is priced right (meaning that comparable houses in recent months were actually sold at this price), and your home is neat, clean and has no special problems--such as being next to a freeway exit or apartment building, it will sell on average in 130-140 days.

If your home is priced below the comps, it will sell in a lot less time than average. And for higher priced comps, the selling time is longer than four months.

Only about 5% of all homes listed sell within a week. Another 10% sell within the first month. The primary factor seems to be price. The homes priced more than 10% above the comparables will take several months to sell. Those more than 20% over the comps may not sell at all within the six month listing period. In fact, about 25% to 33% of all listings do not sell at all. Price is almost always one of the reasons.

SOL TAYLOR

N. Hollywood

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