Of all the factors most important when selling a home, pricing tops the list. Many will argue that location is everything, but the reality is that if you price it right you will sell regardless of the location. Many buyers have flexibility in regards to the location of a home and for the right price may consider areas outside of their ideal location. In regards to pricing, most buyers have a maximum purchase price and cannot exceed that amount based on their income and credit, so they have very little flexibility in that regard. When pricing your home for sale you must ensure you don’t over price the property because you run the risk of pricing it out of reach for many buyers that could afford your property if it was priced slightly less.
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services
In my mind the pricing and the location go together. If the location is a challenge, then the pricing has to be adjusted... so it's sort of one has a direct correlation with the other... If hypothecially 2 houses are exactly the same... and one is in a better location.. then the house in the better location most likely will command a higher price.
Apr 17, 2012 12:47 PM
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher
I'm moan siding with Joan and I'd say that not all budgets being equal is a huge factor. I think it would be about making the sale without losing ground for either side. Also You don't want to lowball or be selling in a murky swamp land that's sinking or something lol
Stop by for blog pie :)
Love and light,
Laura
Apr 17, 2012 12:52 PM
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker
Interesting hypothesis. A house in a poor location could be offered at a "Bargain Basement" price, and it would sell. A house in a desirable location might be Over-Priced, and nobody would buy it.
Apr 17, 2012 01:00 PM
Boston Trust Realty Group - Boston, MA
Boston Real Estate Expert!
I agree that pricing and location go hand in hand, however the location cannot be changed once someone purchases a home. When it comes time to sell, pricing is the only factor a seller considers and in my experieince most buyers will expand their locaiton preference based on their budgets as opposed to trying to stretch their budget to stick with a specfic location. I've sold two homes the were located directly in front of train tracks in my career. While this wasn't the ideal location, both buyers looked past it because they got such a good deal relative to the values of the rest of the homes in the neoghborhood. I also infomred them that they would have to offer the homes at a great price when they decide to sell.
Apr 18, 2012 12:17 AM
Rainer
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Robert Nichols
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