What is my house worth?

WHY DO SOME SELL AND SOME DO NOT?

Answer….

BUYERS decide which house to buy based on 4 elements.

(PLUS “access” ...the ability to get into the house when the buyers are looking!)

I have sold over 3,000+ houses and can assure you “access” is fundamental when competing with your neighboring offerings!

4 elements

1.  Total APPEAL. Since home buying is an emotional decision...houses must appeal on an emotional level.  The outside must appeal to them because you can’t get them on a contract if they don’t get out of the car.   What does your house look like from the street?

The Threshold view  What does the first impression of the house look like standing in the doorway of your house?  What does the house SMELL like? (Women usually notice this more than men.) .. What does the lower level smell like?...even a hint of mustiness may nix the appeal...buyers are crazy sensitive to any HINT of water in cellar since the 2 floods.

KITCHENS...modern or dated….neat and clean… not enough counter space….old appliances,  etc on and on…..

BATHROOMS...modern or dated ..old or new colors… spotless or stained grout… obvious maintenance issues or perfect?

MASTER BEDROOMS….(master bath or not?) size matters, size of closets…  (not big enough for their current furniture..kiss of death=KOD!

Floors...hardwood or new or old rugs etc…

APPEAL is also based on their WANTS and NEEDS...VS your FEATURES and BENEFITS.

al lot of this is predetermined and is out of your control.

2: LOCALE .. the general area...north south east west of the JC circle…(the center of our area) and how it matches the buyers personal geographic needs.) The specific setting of the house and how it looks from the street and how the neighborhood appeals to them. The school system of the house. City or country? On the flats or in the hills? City utilities or not?

3. Occupancy cost:   Price, Taxes, Insurance, Utilities, interest rate, AND apparent DEFERRED MAINTENANCE !!  (Honey we will need a roof in 3 years...honey ..I can’t live with that old refrigerator… honey we will need a new furnace ….etc etc etc etc….)

Price is only one component of a house sale. Buyers decide on the final apparent occupancy cost.  a $10,000 price reduction only changes their monthly payment $50+- a month…

4: BUYERS OTHER CHOICES!!!!!!!!!!  

THIS IS THE FINAL AND ONLY THING THAT COUNTS!   

How does your house stack  up in the 1.2.3 appeal factors against the COMPETITION HOUSES?  Does your house help sell the one down the street? if only 50% sell your JOB is to be the one that does.

Other factors……

Sellers who think “lets try this price and let the buyers can make me an offer!” will find that the buyers just move on to other choices rather than “insult” the sellers.  

This higher the price... the fewer the buyers,

The more unusual the  style or setting the fewer the buyers.  What I call Eclectic!

The better the condition the higher chance of selling.  

The best house on the street always is the most difficult to obtain full value for since stringent appraisal rules require close similar sales in a short time line. (recent example-Contract price in the 180’s appraisal for 156… sellers had to take 156 because bank appraisal set the price...sad sellers ...happy buyers…)

The longer on the market, the more likely low or no offer unless a 5-15% price reduction changes the potential buyers.

In this googlized world, exposure is not an issue. Within minutes of a house being put on the market, the most hip buyers know it...in one day all the shopping buyers know it and in 2 days the world knows it!.  Putting a full page ad in the New York TImes is useless.

In summary,  the best conditioned, best priced, and the most easily shown houses get offers and sales. This is the definition of MARKET VALUE!

CALL JOHN TODAY FOR ALL THE ANSWERS!

607 760 5000 CELL