Every House Has It's Own "Story" ...

By
Real Estate Agent with Howard County, MD - RE/MAX 100 - Columbia MD

When pricing a house for sale, it's important to remember that EVERY HOUSE HAS IT'S OWN "STORY"... no two houses are exactly alike and their "stories" determine the correct pricing.  They may be next door to each other, they may be the same size, and have a similar floor plan ...

Types of Home Row of Books

but their "stories" are never the same!

Types of Home

Houses For Sale have THEMES ...

  • Colonial
  • Contemporary
  • Traditional
  • Rancher
  • Victorian
  • Cape Cod
  • Condominium
  • Town House
  • Bungalow
  • Mansion

Houses for Sale have SETTINGS:

  • Lot Size ... small enough to see in neighbor's windows, large enough to need a riding mower
  • House Site ... busy street, quiet court, top of hill, bottom of hill, the middle of nowhere
  • Views from the House ... urban, rural, woods, gas station, church, liquor store, school yard, water view
  • LOCATION ... LOCATION, LOCATION, LOCATION!Types of Home

Houses For Sale have PLOTS:floor plan

  • Floor Plan ... location of rooms, number of levels
  • Number of Bedrooms and Bathrooms
  • Parking Situation ... garage, carport, street, alley
  • Quality of Construction ... oak floors or carpet, ceramic or vinyl floors, dual-pane windows or single pane, granite or Formica, brick or vinyl front
  • Builder's Reputation

Houses for Sale have MOTIVATING FORCES:

  • Age ... older and charming, newer and boringPower Lines
  • Condition/Upgrades ... remodeled baths/kitchen, upgraded light fixtures, fresh paint, new flooring
  • Proximity to amenities ... parks, shopping, athletic clubs, places of worship
  • Proximity to detractors ... noxious smells, undesirable noises, power lines

Houses for Sale have COMPLICATING FACTORS:

  • Schools ... reputation, standardized scoring results, ranking
  • Neighbors ... lots of children, mostly mature adults, diversity or lack thereof
  • Possibility of future development(s) nearby

Stories & Houses For Sale have CONCLUSIONS/ENDINGS:

  • Sold quickly, sold slowly
  • Sold for top dollar, sold disappointingly low
  • Withdrawn from the market without selling

For the story to have a favorable conclusion/ending, all of the details that make the house unique must be factored into the marketing and pricing.  Every buyer will read the house "story" differently.Types of Home

          Price a house according to it's own "story"

and it will sell quickly and for top dollar!

 $$$$$$$$$$$$$$$$$$$$$$

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Rainer
68,010
Epcon Communities Epcon Columbia
Epcon Columbia, SC - Columbia, SC

That's my favorite part of this field.  The stories homes tell....

Dec 08, 2009 11:04 PM #1
Rainer
68,010
Epcon Communities Epcon Columbia
Epcon Columbia, SC - Columbia, SC

That's my favorite part of this field.  The stories homes tell....

Dec 08, 2009 11:04 PM #2
Rainmaker
430,760
Anne Hensel
South Beaches Real Estate Professionals - Saint Petersburg, FL
Realtor - Broker - St. Pete Beach, Treasure Island

Yes, they all have their own story and you are absolutely right about the pricing.

Dec 08, 2009 11:06 PM #3
Rainmaker
299,751
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

Sue this is a wonderful blog and I love the uber creativeness you put into it. Too bad appraisers cant use some of these guidelines :)

Dec 08, 2009 11:09 PM #4
Rainmaker
518,393
Associate Broker Falmouth MA Cape Cod Heath Coker
http://www.CapeGroup.com & http://www.REindex.com - Falmouth, MA
Heath Coker Robert Paul Properties Falmouth MA

And every house has it's time to be taken off the shelf and read. Some love the story and others put it back.

Dec 08, 2009 11:18 PM #5
Rainer
69,094
Sue Wettstein Brazzel & Dipper Wettstein
Howard County, MD - RE/MAX 100 - Columbia MD - Columbia, MD
"Fast, Efficient, Hassle-Free Service!"

Epcon, some stories are pretty and some not so nice!  It's up to us to help make them more attractive.

Anne, the pricing can make up for a lot of shortfalls ...

Heather, thanks for the kind words!  Yes, appraisers seem blind to some of the details that buyers care about so much.

Heath, right!  When it's put back on the shelf too often, it's time to make an adjustment!  $$$

Dec 08, 2009 11:35 PM #6
Rainmaker
2,353,673
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sue, I love the way you phrased that and it's true.  Our neighborhood used to be all young and many of us have stayed...it's kind of sad there aren't more young people close by with children.  I'm actually surprised there hasn't been more changes in my immediate section.

Dec 09, 2009 02:50 PM #7
Rainer
69,094
Sue Wettstein Brazzel & Dipper Wettstein
Howard County, MD - RE/MAX 100 - Columbia MD - Columbia, MD
"Fast, Efficient, Hassle-Free Service!"

Hi Carole,

Yes, neighborhoods seem to "grow" along with the families - especially the new neighborhoods that are usually populated with younger buyers.

Sue

Dec 09, 2009 11:36 PM #8
Rainmaker
641,735
Dawn A Fabiszak
Private Label Realty ( Denver metro area, Colorado - Aurora, CO
The Dawn of a New Real Estate Experience!

Very clever!  I enjoyed your blog.  Don't you wish you could sometimes send blogs like this directly to the people who need it?!  Bottom line is ... price it right the first time and there shouldn't be a sequel!

Dec 11, 2009 08:26 AM #9
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Rainer
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Sue Wettstein Brazzel & Dipper Wettstein

"Fast, Efficient, Hassle-Free Service!"
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