Saturday, January 9, 2016

Real Estate Home Selling Tips

KNOW THE MARKET (and then do it again)

Home Selling Tip Article:

With the value of today’s homes, it is ever more critically important not to overlook any of the facets of turning
that otherwise relatively liquid asset into cash.

A casual jaunt through the real estate sites or books will dredge up dozens of home selling tips which revolve around clutter, curb appeal, contracts, comparable, advertising, loans, and disclosure.

All of these are good, of course.

But what if we were looking for Home Selling tip  #1?

Number one, of course, should stand out because of its relative importance.  Home tips are usually presented as a group, and
market research is always mentioned as one of the items, but
It really should have its own category.

The market within which the subject residence is situated should
really be researched and analyzed as a set unto itself, the
actual property as a subset of that set.


Because there are so many factors which can affect the present and
future value of the home which reside outside the boundaries of the property itself, and which do not always present themselves as obvious without a  concerted look.

But, fear not.  It isn’t rocket science.

It’s just a basket of values, if you will, which determine the asking price of a residence.

Terms for the area like:

gross rent multiplier

vacancy rate

turnover rate

average market time

tax base

Factors such as:

crime rate

school locations

location of all amenities

planned projects

planned roads, highways, bridges,

dams, airports, prisons, public buildings, shopping malls, etc.

Daily traffic patterns and problems, school locations and scores,
demographics and local weather.

Even at least a brief knowledge of the area’s history can provide some insights in certain cases.

Even most foundation are state, national, and even international economic and political factors.   Seasonal factors.  Consider them all
within the context of an impact on the property in question.

The old saw which says that real estate is all about location, location,
location is a pithy condensation of the aforementioned paragraphs.  

A thorough understanding of these home selling tip variables used as a foundation upon which the particular property is considered can then be used to implement a sound pricing and marketing decision, which will go a long way toward harvesting maximum equity.

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