In a previous article we looked at Five Common Methods To Determine Price. In this post I will discuss how to come up with a price that will actually result in a sale. After all it?s your price, your condition, and your location that determines whether your house will sell at all. You have no control over your location since you are already living there. Condition is important and we will talk about it in the future. Any property will sell if it is priced right. The answer to your marketing time is PRICE.
I mentioned to a group of realtors last week that pricing a home is more of an art than a science. Now, after 15 years of marketing real estate in Wasilla and Palmer I make a myriad of adjustments in determining the correct value of a home. If a home could be priced with strict mathematical adjustments it would be easy to digitize. But computerized valuations will never be able to make accurate value assessments in rural areas where we observe such a variety of properties.
Lets look at a few of the adjustments needed to accurately determine value.
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March 1st, 2007 at 10:35 pm
[…] We all know that in a market like ours where we have more rural properties instead of huge developments full of identical homes it is impossible to price a property at it’s exact value. When we do the comparables we really can’t tell if the location compared to the similar property 6 miles away increases the value by $5,000 or by $6,000. We honestly can’t tell if the neighbors junky yard decreases the value by $3,000 or by $6,000. […]