The pricing of your property is partly dependent on its location. The better the location, the higher the acceptable price. High or low traffic and highway accessibility, all need to be considered in determining the value of your properties location. We cannot control the location.
The list price must accurately reflect its condition. The general upkeep and presentation is critical to obtaining the highest value. Nature of the roof, electrical, plumbing, flooring and paint all relate to condition. Basic rule: If we can smell it…. We can’t sell it!
Recession, inflation, interest rates, mortgage availability, competition and the public’s perception of the general economy all make up the market viability. It may be a buyer’s or a seller’s market. The pricing of your property must reflect the current nature of the market, because we cannot influence the market. We can, however, take advantage of the market.
The more financing terms and options you accept, the more potential buyers there will be for your property. The list price must reflect the terms available. The easier the terms, the more valuable your property becomes. (And this is where my team of professional Affiliates really shine – by offering a broad, full spectrum of mortgage products and options to both you and all potential buyers.)
- What you paid for you property does not effect its value.
- The amount of money you need to get from the sale of your property, does not effect its value.
- What you think it should be worth has no effect on value.
- What another real estate agent says your property is worth, does not affect its value.
- An appraisal does not always indicate what your property is worth on the open market.
The value of your property is determined by what a ready, willing and able buyer will pay for it, which will be based upon the value of recent closed sales. Buyers determine VALUE!