Posted by: rgmorgan | October 12, 2010

Beauty Contest and Price War

Today’s real estate market isn’t the same as most of us are used to seeing. With all the inventory available and the wait and see attitude of many buyers it isn’t enough to have the best house on the block. No matter how you and/or your agent market the property, price is king today. Ask yourself if you saw a marquee for milk that said ice cold fresh milk $10/gal and you saw it at every corner and in the newspaper would you run in and buy it when you know your regular grocery store sells milk at $3/gal? Probably not because no matter how much it is marketed you know there is milk out there at a better price. Marketing cannot overcome pricing with today’s astute buyers. There is too much information at their fingertips with sites like, Trulia, Zillow etc.

If you want to sell your home today it is imperative you price it right. Your real estate consultant will work with you to help you determine the correct price but it might be a tough discussion. Pride of ownership and what your neighbors home sold for a year ago aren’t the correct measurements for pricing your home.

The beauty contest part is a reminder that even priced right a home needs to put it’s best foot forward. You need to keep it neat and clean, make repairs necessary to place your home in the best light possible. Keep the yard uncluttered, mowed and neat. Curb appeal still is important. Just remember that you are competing against many other homes in your price range and if you have selected the right price then you want it to be a shining star within that price range. Just don’t expect the condition of your home to allow you to compete in the wrong price range.

Good luck and if I can be of any help please let me know.


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