|
|
|
|
| Apr. '06 |
|
|
 |
|
Welcome to Spring Time in San Diego! In this month’s newsletter we have included two different pieces that address the current real estate market conditions. First, a good article that speaks to the science of pricing properties in today’s market. Second, a good look at ways a seller can help to make their house more salable. We have also included a list of Summer Camps here in San Diego (summer is right around the corner). Don’t forget to click on our marketing library to see the three latest Spanish marketing pieces we have created as well as our monthly sales statistics! |
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Pricing as Much Art as Science
Pricing property can be more art than science in today's market. New home builders probably have the easiest time of it -- at least without shocking the buyers -- because everything is new. There are no bare areas in the carpet, fingerprints on the appliances, nicotine stained ceiling tiles in the rec room -- and definitely no cat and dog odors that are promised to be dealt with by installing new carpet after the buyer moves in.
With resale homes, the first weapon to use in the battle to sell the home is to price it correctly. The challenge for sellers is that they want as much as the last sale, however, in today's market that's not as guaranteed as it was a year ago. The seller can still walk away with hundreds of thousands of dollars in gain, but maybe not the absolute highest amount of gain ever in the community.
Thus, pricing is the key. There are only a few ways to price a home for sale and sellers who don't want to wait around on the sale of their home need to adapt to the accepted modes of pricing and get over the fact that their house may not be worth as much as it was 12 months ago.
The first model is probably the most popular -- the comparable. By pulling up only the sales of your particular model, the Realtor can determine a trend price for your home. The challenge in a slowing market is that your particular model may only have three sales in the last year. Such a low number of houses selling does not really create a trend line, especially if the last sale was 6 months previous. Thus, you turn to the second pricing model.
|
|
 |
|
