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Pricing Your Property


A house properly priced is half sold. But there are plenty of ways to price it improperly.

You can't go by what you paid for the place. Perhaps you bought two years ago when local prices were skyrocketing, and things have cooled off since. Perhaps houses like yours can now be bought for less, and if you hold out for what you paid, you'll just waste your time.

On the other hand, perhaps prices in your area have taken off, and you'd short-change yourself if you just tried to "get my money out" (but you'd have a fast sale).

You can't go by how much you've spent on improvements. A given street will support only a given price range. If you've invested so much that yours would be the most expensive house on the street, the buying public is not likely to reimburse you.

You can't go by your tax assessment figure. Even in communities that aim at full-value assessments, the figures are almost never in line with what buyers are currently ready to pay.

So how do you price your house?

By putting yourself in a buyer's shoes.

What else is for sale in the area? How does it compare with your house? How long has it been on the market? What has sold recently, and how much did the buying public value it at? What has failed to sell in the past year?

Any good broker can furnish the data you need, often in the form of a chart known as a CMA, Comparative Market Analysis.

And once you have it, again think like a buyer. What price would it take for you to look at a list and say to an agent "Take me to see that one"?

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MORE RESOURCES:

$16 house man: real estate genius or squatter?
New Zealand Herald
And while real estate experts and authorities say he's misusing the law, Robinson appears to have inspired dozens of imitators who moved into the Dallas-Fort Worth area homes - some of which were still occupied by their owners.

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Aspen real estate outgained other state resort-area markets in 2011
Aspen Times
ASPEN — A flat year for the Pitkin County real estate market in 2011 is looking good compared with the performance in Eagle County and other resort areas in Colorado. A report by Land Title Guarantee Co. shows Aspen and Pitkin County had one of the ...

and more »


New York Times

Real estate is a team sport
Boston.com (blog)
Sam Schneiderman, Broker-owner of Greater Boston Home Team, discusses the importance of having a team that works together when buying or selling real estate. Whether you are buying or selling, I believe that a successful real estate transaction ...
So Eager to Get Foot in Real Estate's Door, They Work Without PayNew York Times

all 2 news articles »


Chicago Tribune

Real Estate: National foreclosure settlement delayed, Nevada AG concerned
Reno Gazette Journal
Ap File BY THE NUMBERS Foreclosure-related filings for 2011 for Washoe County, Nevada and the United States. Filings include notices of default, notices of sale or auction and bank-owned foreclosures. Washoe: 7981 (down 27.3 percent and 27.6 percent ...
Week ahead in real estate (Feb. 6-10)U-T San Diego
Banks Paying Homeowners a Bonus to Avoid Foreclosures: MortgagesBusinessWeek

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Real estate firm's game ad nothing to laugh at
Chicago Tribune
Five years into the housing crisis, a national real estate firm thinks there's still a national audience of potential homebuyers just waiting for the right opportunity. The combination of home affordability and mortgage interest rates are practically ...
Century 21 Maintains Leadership Position in Brand Awareness SurveyRisMedia.com (press release)

all 2 news articles »


Montgomery County eyes hefty real estate tax jump
Roanoke Times
Demands and cuts in state funding suggest a 21-cent real estate tax rate hike. Supervisors balked. By Mike Gangloff Montgomery County supervisors braced themselves Monday for the possibility of a record increase in the county's real estate tax rate.

and more »


Zephyr Real Estate Announces Top Producers for 2011
MarketWatch (press release)
SAN FRANCISCO, CA, Feb 06, 2012 (MARKETWIRE via COMTEX) -- Zephyr Real Estate, San Francisco's largest independent real estate firm, is proud to announce the company's top producing real estate agents for 2011. The Company Top 10, in order by highest ...

and more »


Real estate title agent to add 200
Pittsburgh Tribune-Review
The parent of United Lender Services, a national real estate title and settlement agent in Findlay, has acquired two large office buildings along the Parkway West, where ULS will relocate and triple its employment to more than 250.

and more »


TEXT-S&P says European real estate should weather downside credit risks
Reuters
"We think that our macroeconomic forecast of a mild recession for the first half of the year will have a moderate effect on the operating performance of our rated Real Estate Investment Trust (REIT) portfolio," said Standard & Poor's credit analyst ...

and more »


Oregon Company Attempts to Bring Real Estate Into a Mobile World
LoanSafe
by Evan Bedard on February 6, 2012 in Real Estate (Source: By Sherri Buri McDonald, The Register-Guard, Eugene, Ore.) - A Eugene start-up company, RealLead is trying to bring the speed and immediacy of mobile communications to real estate shopping.
Bringing real estate into a mobile worldThe Register-Guard

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