A few days ago I covered the real estate numbers for November in the blog
Some neighbors were quick to point out how they could get more than the guy next door ..because.
The hardest thing to decide in real estate is how to price a property. There are a lot of ways to approach the question and everybody has their favorite way. The hardest thing for most sellers to wrap their brain around- is the difference between value and asking price.
Value is the dollar amount sellers feel their property is worth. The actual “value” is determined by the amount the buyer actually pays .
Asking (or List Price) priceis like target and your position on the target sends a message to potential buyers that says one of two things:
1. “Bullseye”- great value -come and make an offer
or
2. ”Somewhere on outer edges of the target” – telling buyers to keep looking to keep shooting and eventually something will land near me on the target.
Remember Realtors representing buyers are running comparative numbers before any offer is made. They are making sure the buyer is focused on the bullseye price.
If you were a seller in the Lakota School District where would you position your property for the next buyer?
Focus on pricing your property in the buyer’s “bullseye” ensures a quick sale.
Take a look at the “hard numbers” below and see the same information that buyers are utilizing to make their purchase decisions.
(Data is from Multiple Listing Service of Greater Cincinnati)
West Chester (east West Chester/west West Chester) single family homes closed during the month of November 2008.
Beckett Ridge single family homes closed during the month of November 2008.
Liberty Township single family homes closed during the month of November 2008.
