Members: 114,245 - 2,064 Online Now  Login
 

Lately is seems my posts are including lists. I guess that is they way my thoughts have been flowing recently.Thinking

Lets talk about KEY MARKET FACTORS. I would like to hear from readers on your thoughts and the importance of each. So, give you mind a little workout and think about a property you are trying to sell.

How long does it take to sell a property? Some properties sell in a few days, others may take several months. Recognizing some key factors that influence marketing a home, you can get significant control over market time.

Having a proper balance of these factors will help in the sales process.

 

LOCATION - Location is the single greatest factor affecting value.  Do you agree or disagree? a neighborhood's desirability is basic to a property's fair market value.

COMPETITION - Buyers compare your property against others in that neighborhood. Buyers interpret value based on available properties on the market.Wristwatch

TIMING - The real estate market may reflect a "buyers" or "sellers" market. Market conditions cannot be manipulated; an individually tailored marketing plan of action must be developed for each property.

CONDITION - The property condition will affect price and speed of sale. Optimizing physical appearance and advance preparation for marketing, maximizes value.

TERMS - The more terms available, the larger the market, the quicker the sale and higher the price. Terms structured to meet your objectives are important to successful marketing.

PRICE - It the property is not properly priced, a sale may be delayed or even prevented. Reviewing a CMA (Comparative Market Analysis) assists you in determining the best possible price. 

Todd Jones, Realtor - Selling Scranton, Clarks Summit Real Estate 

 

9 Comments on Key Market Factors - How would you rate these six?

Very Well Done Post Todd - we would rate the top 3 as Location, Price and Condition.

Sincerely,

Grace Safrin

12/06/2007 08:12 PM by Jeff & Grace Safrin-SpousesSellingHouses REALTORS, F.C.Tucker Company, Indiana (F.C.Tucker/Advantage Realty)


Todd - Great post!  I think location tops all of these followed by price and timing which are tied together.  Picking the right time to sell your home can severely impact the price. 

12/09/2007 06:49 PM by Bergen County Realtor, Sal Poliandro, SRES, ePRO, Short Sale Specialist (RE/MAX Properties)


Hi Todd,

These are all excellent and probably we would say location, condition, price, competition, timing and terms are the order we would put them.  However, things change and keeping an eye on the market is another point to mention.

12/11/2007 10:26 AM by Pascack Valley Real Estate>> Lisa and Robert Hammerstein (Coldwell Banker)


Todd,  Thanks for the post.  I agree that location tops all.  One can always change the condition and price of a home, however, not much can be done to change a location!

12/12/2007 01:12 PM by Afton McGhee (Keller Williams Realty)


Looks like everyone is in agreement here, Todd.  Afton is sooo right.  We can change alot of things about a listing, but  location is set in stone, so to speak.

12/12/2007 07:19 PM by Lisa Heindel, New Orleans West Bank Real Estate (Latter & Blum Inc. Realtors)


Grace - Thanks for sharing 

Sal - I agree. As important as location is, if you do not price it right you are doomed.

Lisa & Robert - We really do need to be in tune with out local market

Afton - Mark another vote done for location! Thanks.

Lisa - Make that five votes for location. How about those shows where they pick up huge homes and hoist them across town???!!! 

12/13/2007 08:52 AM by Todd Jones (Coldwell Banker Town & Country)


Todd, LOL...I don't think my sellers are really into actually MOVING the house to make it sell quicker :)

12/13/2007 06:42 PM by Lisa Heindel, New Orleans West Bank Real Estate (Latter & Blum Inc. Realtors)


Todd, here's my rankings:

Location, Price, Condition, Competition, Timing, Terms. Sometimes Todd, I think Timing trumps everything if there is a drastic oversupply or undersupply of what people want. But location is critical of course for water location, school districts, traffic, eyesores next door, wooded or golf course lot, etc.

12/20/2007 06:32 PM by Gary Woltal - REALTORĀ® Dallas Ft. Worth (Keller Williams Realty)


I would rate it location, price, and condition.  All three are vital...the location can lead to the price and the condition justifies the price.

12/20/2007 11:01 PM by Vincent Coccia (Construction Services Integration)


Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Todd Jones (Coldwell Banker Town & Country)
Todd Jones
Clarks Summit, PA
More about me…
Coldwell Banker Town & Country

Office Phone: (570) 585-5852
Cell Phone: (570) 878-4739
Email Me


Links

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find PA real estate agents and Clarks Summit real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved