Tips, tactics and strategies to sell your own house!
"House for sale secrets revealed" ebook shows how you can get the best home selling price for your property.
Showing posts with label Home location. Show all posts
Showing posts with label Home location. Show all posts
Saturday, June 28, 2008
Price, Condition and Location of Your home
If your home has not sold because of (or regardless of) its location - alter your price and it will sell.
If your house has not sold because of its condition, either fix what's wrong, or alter your price until it does sell.
As any good agent will tell you, "when priced correctly, a property will sell regardless of condition or location."
If the location is wrong, well... you just can't do anything about it. Adjust your price accordingly.
You have to think carefully about the whole sales process. It is not just a case of accepting everything I say as "a fixed rule". I'm sure that some of the ideas will be best adapted to suit your own situation. The key is to pose the right questions so that you come up with the right answers.
Very often I will mention the possibility of listing with an agent. If you are a For-Sale-By-Owner, don't completely rule that option out, as a high percentage of For-Sale-By-Owners will list with an agent within the first 6 to 8 weeks.
As I understand it, something like less than 10% of For-Sale-By-Owners will sell their houses without outside help. In most instances that will mean a real estate agent.
Friday, June 27, 2008
Pricing: the Home Condition
The key factors that determine whether or not a house sells are:
• PRICE
• CONDITION
• LOCATION
The previous post was about the home price. This one is all about the home condition.
No two homes are exactly alike and that's why some properties are easier to sell than others. For example I sold a home with magnificent downtons views, 2 ½ minutes from the city center... in fact is was of a similar size and standard to the surrounding houses. However, I sold it for higher than market value because, unlike the others, it had drive-on access for 3 cars. That was the reason I got a higher price.
Rule of thumb is that if a property is in excellent condition, then it should sell close to the frill market value. If the property is not up to scratch, then the sale price is likely to somewhat be less, all depending on its condition.
The price a buyer is willing to pay will generally reflect the condition of the home. The condition of the home is something that can often be improved with careful thought and careful use of money.
So don't stick to the LOCATION, LOCATION, LOCATION myth. If a real estate agent is really honest, he will tell you that 'over pricing' is usually the number one reason why a property fails to sell.
• PRICE
• CONDITION
• LOCATION
The previous post was about the home price. This one is all about the home condition.
No two homes are exactly alike and that's why some properties are easier to sell than others. For example I sold a home with magnificent downtons views, 2 ½ minutes from the city center... in fact is was of a similar size and standard to the surrounding houses. However, I sold it for higher than market value because, unlike the others, it had drive-on access for 3 cars. That was the reason I got a higher price.
Rule of thumb is that if a property is in excellent condition, then it should sell close to the frill market value. If the property is not up to scratch, then the sale price is likely to somewhat be less, all depending on its condition.
The price a buyer is willing to pay will generally reflect the condition of the home. The condition of the home is something that can often be improved with careful thought and careful use of money.
So don't stick to the LOCATION, LOCATION, LOCATION myth. If a real estate agent is really honest, he will tell you that 'over pricing' is usually the number one reason why a property fails to sell.
Tuesday, June 24, 2008
Price, Condition and Location of Your House
Price, Condition and Location: the 3 key factors that determine whether or not a home sells.
Of the three, location is perhaps the least important because of one often overlooked point, which is - Location cannot be changed by anyone in the negotiation process.
Just think about that for a moment. Location cannot be changed by anyone in the negotiation process. So, unless you can put your house on wheels, it will stay where it is, meaning you (and your potential buyer) must accept the location as a fixed negotiating point.
Now, there are possibly a few exceptions. For example, it is not uncommon to move a house on the back of a truck from one location to another. In fact, I once watched as a multi-level hotel was lifted and moved on rails from one side of a busy city street to the other. It wasn't a small building, so I couldn't believe what I was seeing!
Also, without physically moving a property, it is possible in some circumstances to have a property rezoned by the local authorities. It does depend on your laws relating to where you live, however I have seen properties triple in value when they were rezoned from 'rural' to 'commercial'.
But, as I say, the laws are different from country to country. Anyway, unless you can alter the location or status of the location, you must generally accept the location as being fixed.
Which brings us to the other two points -price and condition. Both price and condition are variables that you can control. That's why I rate them above location in the negotiating process. In my next blog entry I will look at these two variables. You can control those!
Of the three, location is perhaps the least important because of one often overlooked point, which is - Location cannot be changed by anyone in the negotiation process.
Just think about that for a moment. Location cannot be changed by anyone in the negotiation process. So, unless you can put your house on wheels, it will stay where it is, meaning you (and your potential buyer) must accept the location as a fixed negotiating point.
Now, there are possibly a few exceptions. For example, it is not uncommon to move a house on the back of a truck from one location to another. In fact, I once watched as a multi-level hotel was lifted and moved on rails from one side of a busy city street to the other. It wasn't a small building, so I couldn't believe what I was seeing!
Also, without physically moving a property, it is possible in some circumstances to have a property rezoned by the local authorities. It does depend on your laws relating to where you live, however I have seen properties triple in value when they were rezoned from 'rural' to 'commercial'.
But, as I say, the laws are different from country to country. Anyway, unless you can alter the location or status of the location, you must generally accept the location as being fixed.
Which brings us to the other two points -price and condition. Both price and condition are variables that you can control. That's why I rate them above location in the negotiating process. In my next blog entry I will look at these two variables. You can control those!
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