3 Factors That Make No Difference to The Right Price For Your Home

Reblogger Gregory Bain
Real Estate Agent with Mezzina Real Estate & Insurance

 

While I think the number 1 factor that means NOTHING in selling your home today is what you paid for it or what you owe on it, Valerie Zinger brings out some other "misconceptions" about SELLING your home. 

IF you want to sell it, price it correctly. IF you don't know what correctly priced means, please call me. You might not like what I say the home is worth but I will tell you the truth. I don't need inventory, I need sales. 

When you want to sell it, call me and I will help you price it to sell. My cell phone is 609-290-7962 and my email is NJHomes@hotmail.com

Thanks for reading.

 

Original content by Valerie Zinger

The single most important factor in selling your house is the price.  At the right price, almost anything will sell but what is the right price? 

Here are three ways NOT to set the price on your house:

1) Predetermined Return on Investment (ROI).  For example, you decide that you must get a 20% ROI -the house you bought for $400,000 must go for $480,000 plus commission and other expenses.  House prices may be dropping.  What is the current economic situation and how are houses selling in your neighbourhood?  If all the house prices are dropping, expect that your house price will drop as well.  Buyers don't care about your investment (initial investment, equity and return strategies).  Houses sales are not made based upon a Seller's ROI. 

2) Return on Improvements.  For example, you put on a new roof ($10,000) and installed 10 new windows ($10,000) so you want $20,000 above what other houses have been selling for in your neighbourhood. Buyers don't cares what you paid for maintenance and improvements, only that they don't have to do it.  All that matters to the buyer is that the house is in good shape.   House sales are not made based upon a Seller's Return on Improvements.

3) Return plus coverage of your outstanding mortgage and the real estate fees.  For example, you owe $100,000 on the house and the real estate fees are going to be $20,000.  You want your house to sell $120,000 above what you paid.  No buyer cares what your mortgage is or how much you are paying in real estate commission.  Everyone is paying off mortgages and paying commissions.  House sales are not made on the basis of what a Seller owes. 

You, the owner, can set any price you want for your home.  Your agent, under fiduciary responsibilities, is required to obey your instructions and list the home at the price you instruct.  However, you may never sell your house if the price is not what the market will pay.   Listen to the advice of your REALTOR®.  Look at comparisons, what is on the market now and what has sold and at what price.  This is an indication of the state of the market.  

Your selling price should not be a "feeling".

Photo credit:  New Windows @ http://www.flickr.com/photos/pinkmoose/250056085/

Valerie Zinger  email: vzinger@royallepage.com  (613-723-5300)

Royal LePage Gale Real Estate,  Ottawa, Ontario, Canada  

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Topic:
ActiveRain Community
Location:
New Jersey Ocean County
Groups:
All About NJ Real Estate
New Jersey & Pennsylvania -- Realtors/Loan Officers/Title Clerks/Real Estate Lawyers
New Jersey Real Estate Experts
South Jersey
Tags:
price reduction
cma
priced to sell

Comments 1 New Comment

Rainer
77,742
Andy Kress
Rental Solutions Oahu

You are so right on this. I wish more agents understood there is more to real estate than a sign on the property.

October 19, 2010 01:00 PM
Rainmaker
190,121

Gregory Bain

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Additional Information

Just something I felt needed to be said. You can agree, disagree, or, well........... Search for Jersey Shore Homes HERE: Here are some great bargains that are available for sale in my market area:
Gregory Bain njhomes@hotmail.com | 609-290-7962
93 Lake Superior Drive, Little Egg Harbor, NJ
Little Treasure by the Bay
3BR/1+1BA Single Family House
offered at $258,000
Year Built 1964
Sq Footage 1,200
Bedrooms 3
Bathrooms 1 full, 1 partial
Floors 1
Parking 3 Uncovered spaces
Lot Size 4,791 sqft
HOA/Maint $0 per month

DESCRIPTION

This is the reason Little Egg Harbor is called "Little Treasure on the Bay". This Great Waterfront home has good boating location and is a super opportunity for year round living enjoyment at the Jersey Shore, or, a summer getaway for the family. The contempory layout of this ranch offers the lifestyle one expects when they are at the Jersey Shore. It was designed to entertain with its wonderful open floor plan, deck, dock and screened porch. Owner says sell. Learn to relax. The yard is stoned landscape with multiple decks so there is nothing to do but read that book. Enjoy the outdoors even in the rain you are inside the screened patio feeling the summer breeze. This is a home where you can boat, fish, crab, and swim right off your backyard. Come take a look. You will treasure the times you will have in this three bedroom, one and a half bath waterfront home. All appliances are included and furnishings are negotiable so you may need to bring only a toothbrush to start enjoying this retreat. Located down the street from the Mystic Island Shoppes will make it convenient to walk for morning coffee, newspaper, and breakfast - who cooks on vacation? Captains Delight? Catch of the Day with crabs right from the traps at the dock.

see additional photos below
PROPERTY FEATURES

- High/Vaulted ceiling - Living room - Dining room
- Dishwasher - Refrigerator - Stove/Oven
- Microwave - Attic - Washer
- Dryer - Yard

OTHER SPECIAL FEATURES

- Waterfront

Contact info:
Gregory Bain
9799250
609-290-7962
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Feb 5, 2010, 7:02am PST
Gregory Bain | | 609-290-7962
112 North Ensign Drive, Little Egg Harbor, NJ
This three bedroom Sportsman model was expanded and re-configured into a two bedroom with a peaked roof.
2BR/1BA Single Family House
offered at $219,000
Year Built 1963
Sq Footage 1,180
Bedrooms 2
Bathrooms 1 full, 0 partial
Floors 1
Parking 3 Uncovered spaces
Lot Size 5,000 sqft
HOA/Maint $0 per month

DESCRIPTION

Jersey Shore waterfront home in great location of Little Egg Harbor (aka Little Treasury by the Bay) for boating access to Great Bay and Little Egg Harbor with all the off shore fishing spots. Wonderful opportunity to own waterfront before the prices are driven up by future development of the seaside condominiums slated to be built down the street with it's picturistic views. This two bedroom was originally designed and built as a 3 bedroom fisherman's cottage but has been expanded and reconfigured as a two bedroom home. Many improvements like thermal windows and vinyl siding have been done but it will need some updating. Come see how you can make this your family retreat. A great vacation spot were you are close to Atlantic City casinos and nightlife or the white sandy beaches of Long Beach Island

see additional photos below
PROPERTY FEATURES

- Central heat - Fireplace - Family room
- Dining room - Refrigerator - Attic
- Washer - Yard

OTHER SPECIAL FEATURES

- Waterfront

ADDITIONAL PHOTOS


aerial view

Dock view

Street view

family/foyer

kitchen/dining

bedroom
Contact info:
Gregory Bain
BayShore Agency
9799250
609-290-7962
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Feb 12, 2010, 12:16pm PST