Why do some listings sell faster than others?
Location, location, location, we’ve all heard that location determines everything, sale price and the amount of time on the market are just a few. But is location that important in today’s economy? We have become a society that travels, with 30 to 60-minute commutes to work, to the mall, to shop or to visit friends. While location is still a strong determining factor in listing price and how fast a property sells, it’s not the only thing in this community with no boundaries. We have out grown the standard used for many years in determining the list price of a property. While it’s true, that every parcel or tract of land is unique, there is only of every location on the planet, as it were. We have learned to be more adaptive in our quest for the perfect location. A sea shore property in Malibu would be awesome, but which one? For most of us, any sea front home in Malibu would be just fine, we would adapt and learn to love the one we managed to purchase. While we may later determine that the last house on the block is the perfect home, the one we have can be adjusted (remodeled) to suite our needs and we would learn to love it. That same analogy can be applied to just about any home, on any street, in any town USA.
So, if not location, what determines if a house sells quickly at the correct price? The market determines everything. While we can run high tech software, study the many comparable properties that have sold, and yes, even studied the location to make sure buyers will be more willing to pay a higher price for that “unique parcel” of special land. It’s the market that will tell us if we are correct in our strategy of pricing. When potential buyers start calling and then start looking at a listing, we then know we are dead on with the price for that location, for that home condition, at that time of year, in that market. And when we get offers on that property, how close to the list price the offers are, tell us if that particular location is really, that special to buyers, to the market.
Because the market determines, everything. If you have any concerns about your property, contact me so we can discuss your issues 304-545-2009, email@example.com