pricing: Should I Replace the Carpets? - 08/07/08 04:37 PM
Last night, I was meeting with someone who is considering selling their home.
One of the first questions I was asked was, "Should I replace the carpets or just offer a credit to the buyer?"This is actually a very common question. And my answer is always the same:Replace the carpet!While you're at it, make any necessary repairs.Do everything you need to to bring your home into model home condition.
There is a lot of inventory on the market right now. Buyers have a lot of homes to choose from. You want them to choose yours. How do you do that?Well, of … (14 comments)
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pricing: The Importance of Price - 07/17/07 02:35 PM
I've written about pricing issues in the past. At the end of the day, the list price of your home is one of your most important considerations. If you over-price your home, it will not sell.
I don't show over-priced homes to my clients. Why would I waste their time?If you over-price your home, will you get showings? Maybe. Here's why:
Agents who do not know home values may show your over-priced home. Sounds great, doesn't it? Well, not really. Because buyers, after looking at many homes to buy, tend to learn about home values and they know an over-priced home … (15 comments)
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pricing: Days on Market: It's a Matter of Price - 06/24/07 12:13 PM
In preparing my monthly Market Condition Reports for the area towns surrounding Candlewood Lake here in Connecticut, I've noticed a continuing trend between Days on Market and Original List Price vs. Final Sales Price.
With the exception of new construction (which typically takes longer to sell due to the construction time, and often sells at a premium over resale homes), nearly all homes that were on the market for more than 150 days, ended up selling for $50,000 - $100,000 less than the original list price. Some sold for $200,000 less than the original list price and sat on the market … (8 comments)
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pricing: Don't Believe the Media Hype - 04/28/07 02:48 PM
The Danbury News Times had an article earlier this week titled Home Sales Bubble Bursts.
In this article, they include information such as:
"Danbury-area real estate numbers show the region has not been immune to the slowdown""Home prices have dropped about 10 percent in the region"While our market may not be as "hot" as it was in the recent past, there has certainly not been a "Bubble Burst" as the newspaper editors would have you believe.
To verify the accuracy of this article, I ran some numbers on the Consolidated MLS, comparing First Quarter 2006 (1Q06) closed sales of single family homes to First … (4 comments)
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pricing: Value vs. Appeal - 01/11/07 11:33 AM
When marketing your home for sale, among all the preparation that must be done to make your home stand out amongst the competition, you also need to consider your home's appeal. The appeal of your home may not result in a direct increase of the market value of your home. However, it can certainly help.
Items that add value to your home include the home's square footage, the granite kitchen and the covered porch. They may not add as much value as their original cost, but they certainly do add some value.
Items that add to the appeal of your home include … (18 comments)
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pricing: Pricing Issues: Location - 01/06/07 09:46 AM
When it's time to sell your home, among the myriad of things to do to get your house ready for sale, you must determine the best price at which to list and market your home. Price too high, and buyers and their agents may not even come to see your home. Price too low, you may enjoy a quick sale, but you could leave money on the table. Pricing competitively - based on recent similar sold homes while considering the current active competition for your home - will result in more showings, more interest and the achievement of your goal: the sale … (6 comments)
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pricing: Pricing Issues: Square Footage - 01/03/07 02:18 PM
When determining the value of a home, your agent will first take into consideration the home's Gross Living Area, otherwise known as square footage.
The Gross Living Area of your home includes the fully-finished, above-grade areas of your home. Typically not included are basements, attics, garages and enclosed or covered porches.
One of the most common discrepancies I see with homes listed for sale here in the Danbury, Connecticut area is that sellers and their agents sometimes include a finished basement in the total square footage of the home. Below-grade areas, whether finished or not, are not calculated into the total … (15 comments)
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