IN our last episode WE TALKED ABOUT PRICE PER SQFT. I consider this a rudimentary approach to snagging the best price for your most valuable investment.
Here’s a better way…
I call it the WHAT YOU CAN GET THEORY and combine it with the price per square foot approach
The top 4 elements of value that a buyer will use to determine value are
PRICE - can I afford it
LOCATION - is it close to work, schools, shopping
CONDITION - Does it deliver what I need on a timely basis? is it ready, or must I move across the country to begin repairing before I can enjoy living in the home
AVAILABILITY OF SIMILAR PROPERTIES (supply & demand) - how many do I have to choose from? Is it rare or do we see homes like it all of the time?
AESTHETICS - STYLE & TYPE
Further, there are very important brownie points that make a home more or less distinctive when it comes to pricing
- Home Size larger square foot homes sell for lower price per square foot
- Smaller square foot homes sell for higher price per sqft
- Generally speaking one story homes sell faster than two
- Lot style - double lots, larger lots; culdesac lots, lots next to greenspace can demand a higher value
- Homes that have been remodeled are more desirable (Bc they are ready to move into)
- Homes with interior upgrades such as custom window coverings and paint colors, plank flooring, demand a higher price
- Homes with exterior features like additional landscaping, pavers and walk ways pergola’s and patios say BUY ME
In summary:
Use Average Price per square foot as a guide
Presentation is KEY - Condition is a strong determinant of value (homes in best condition often sell first) Buyers go crazy over homes that look more expensive than their price tag)
Consider the number of similar properties available and factor in location Use a wider radius of what is available - not just your neighborhood
Utilize a realtor to justify additional points relating to your home’s uniqueness
Make sure it makes a statement begin with CLEAN and UNCLUTTERED
Get fancy after you check those two boxes.
Listen to our quick bonus episode REAL ESTATE STORY on pricing and learn what really happens in the market
In our next Podcast we’ll examine Top 10 characteristics Characteristics of Todays Homebuyers
To bring you up to date on the trends in the market See you soon!
Hi! I’m Lisa Marie Contaldi and my family has called Austin Texas home since the late 80’s. I’ve celebrated hundreds of success stories and memorable housing experiences helping buyers and sellers achieve their personal financial goals. We’ve all witnessed the astounding changes from a rapidly evolving housing market in Austin through many real estate cycles. Is it time for you and your family to cash out and make the change you’ve been planning for months; or dreaming about for years?
WE ARE knowledge brokers offering an authentic ongoing conversation that will develop your natural intelligence in real estate and other endeavors.
http://lisacontaldi.com
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