Home : Blogs : Glenda and Steven McDaniel : Glenda and Steven's Blog

Price Versus Property Appeal

With bulging inventory and more buyers sitting on the fence, I find myself not only asking Sellers to get the Price right with the market but to also make the "Desiribility Levels" higher. Staging certainly has worked in a market where homes stay on the market for longer periods. Sometimes it is hard to decide how far do you go to improve a home. Does changing the counters to Granite or the carpets to Hardwood help. I think it depends on the price point, but even if the property has a lower price range the "Desiribility Level" needs to be up. If Sellers raise that level, then they have a good chance of being remembered and get what I call the the Buyers "WOW". If you get a WOW during a showing, it is a good chance that home will make it to atleast the top three homes that a Buyer will decide on.

Posted by Glenda and Steven McDaniel on 04/13/2008 07:43 PM

Comments (7)

home staging, real estate, realtor, virginia, smith mountain lake, landscaping

Post is included in group: Realtors®
Post is included in group: VIRGINIA
Post is included in group: Dedicated Bloggers

7 Comments on Price Versus Property Appeal

I have a listing that is showing well but the owners priced it a little high I think. I tried to keep it a little lower, but you know how that goes.

04/13/2008 07:49 PM

by John Walters (Specialized Real Estate)

Showing Well is ok but I still feel there are many levels of "Desiribility" and I think the higher you can get

that level, the better off you will be in selling. Thanks John for your input

04/13/2008 07:56 PM

by Glenda and Steven McDaniel (Long and Foster Smith Mountain Lake Office)

When you make such drastic changes just to sell it, you're always going to get the buyers who complain about the color choices made and how they wish the floors were stained a different shade, or they with the granite was a slab instead of tile... I would just price it well enough to wow a buyer with the price and current condition. The buyers won't necessarily go WOW when you increase the price of the home $20k because you spent $20k on wood and granite... but we're in a lower average price range, so it's probably different.

04/13/2008 08:00 PM

by Donna Harris, ASP (Re/Max HiNet)

Maybe price the house on the lower end and add a credit in for upgrades of the buyer's choice.

04/13/2008 08:48 PM

by Lisa Friedman Central New Jersey Real Estate (Pinnacle Realtors)

I think the "wow" factor is what sellers need, too. I've told my sellers that, and I think they are beginning to listen. There are just so many homes out there to choose from, the buyer needs to be "wowed" to get them to remember it and like it above the rest.

04/13/2008 09:48 PM

by Debi Ernst, Real Estate Broker/Agent (Ryco Realty Group)

I think that pricing and "property presentation" go hand in hand. It's kind of like applying for a job and stating your salary requirements. If you ask for the moon and your salary request is unrealistically high, it doesn't matter how stunning your resume looks. On the other hand, if your salary requirements are competitive and realistic for the industry and the area, presentation may be the difference between your resume ending up on top -- or in the trash. Price it right AND work on the presentation!

04/14/2008 12:54 PM

by Andrea Santmyer, Room Revisions (Room Revisions, LLC)

Thanks Andrea and Debi, I really like the application comparison.

04/14/2008 01:41 PM

by Glenda and Steven McDaniel (Long and Foster Smith Mountain Lake Office)

Leave a response…

Name:

Notify me of new comments:

Comment:

What does the graphic say?