Good morning welcome back to Ready Set Sold I was buying both thanks so much for joining us in the last time when we talked about pricing your house right the first time and the importance of getting that done some of the things we mentioned is just less work less struggle what’s concerned a good rule of thumb and I say a rule of thumb every situation is different but 30 to 45 days is usually when you’re gonna get your top tower it’s when you usually get something within 2% of where your house is priced at or even less and yes depending on your market it could be full price.
We’ve seen that happen to our market has been very strong and it stayed pretty strong it started this year that’s fantastic so phalan chai low and elbow in Arizona Waterloo Skyforce areum Escudo all those areas have been doing really really well some areas doing better than others but that’s typical that’s just kind of how real estate works so what we’re gonna be talking about right now in this segment is location location location I would say that’s the number one thing that almost anybody whether you’ve ever sold a house ever even bought a house has heard of so one exactly though it is location location location meet location is simply what is going on in your
And the best way to look at location is to start from in and work your way out and what I mean in is not going saying that I live in O’Fallon Illinois and then where do I live little Elmo Noi it was in the NAR section and then what subdivision do I live in and then bringing it down to the street that’s one way but it’s much better that you and your agent look at what’s going on on your street what’s actually sold in your street and the location is going to have a big factor on that so let’s say that the average and I’m just you example don’t quote me on this sometimes I hear people say well you said this I’m just trying to give you an example maybe your location is between 175 and $200,000.
What that means is houses in your location ideally on your street are nearby have sold in the last three months and that’s kind of a key number to know the last three months is what you really want to strive far you can go for if need be but you want to have the most current information you’ve heard me talk about is that markets can change I shouldn’t say they can change they do change in three months yes they can go up and that’s a great thing but it don’t always go up and things can things can go down so you want to have the most precise information you can they can change in two months that’s kind of 50/50 and they can change in one month but three months is a very good barometer so what is selling on your street are near you in the last three
months that compares well to your home.
That’s a key factor for example as I said 175 to 200 so that’s a good indication that your house is going to sell within that price point in a certain period amount of days and that could be again that that varies but I want to try to make this simple that’s your location when agents and usually agents move sellers out of their location meaning as they move it to a different part of town they move it to another subdivision that is usually spell disaster the reason being is is that every location has its differences and what you’re going to run into is that most times if a buyer is looking at it and they do question how the pricing came up you’re more likely or not be selling a house in another subdivision because they say well if this price is at 225 and they’re getting five here it’s a close sale.
Then maybe that’s where I need to be at and not here at the 175 and 200 that’s why it becomes so important your location means location location location where you’re sitting at in the in a subdivision can be a factor to your advantage ideally if you’re in a cul-de-sac that’s a good thing it doesn’t necessarily mean that you’re going to have a dour amount it just means it’s one less it’s one more thing that you can have that other people don’t have being the cul-de-sac is a good thing maybe being on a car house where you can get into problems is if you start putting a specific number on that ie had a situation where someone had a house it was a car in a lot nothing wrong with that however the seller felt that that lot was worse karna lot was worth $10,000 more not because of the location garner that they just put a price on it for $10,000.
Well in the end of the day they didn’t get to ten thousand hours they were on the market a much longer than they ever expected and unfortunately they didn’t get the pricing that they wanted to because they were on the market so long good question to ask yourself if you’re a seller when you purchase the home what did you pay for a corner lot what did you actually pay for the cul de-sac most of the times nothing are not much but that might have been one of the factors that made the final decision on where you’re living at that you like the idea being the cul-de-sac and you saw other houses that didn’t have the coalsack there weren’t weren’t the corner house and that’s where you have the advantage of your location.
Using your location as advantage of probably one of the reasons why you purchased the home to begin with that also comes into play when you’re talking about woods and lakes and golf courses think back did you actually pay X amount of dollars most buyers don’t I just don’t now it couldn’t very well be that you bought that to be on the golf course and that other houses had also gotten that price for being on the golf course and that’s your location so you have three houses or on location on the golf course and they’re all two hundred fifty thousand dollar range well it’s a good chance that probably the price range you’re going to be in and that’s a great thing so that’s why it’s important to have your agent and you understand what location means and why it’s important when it comes to selling your home that you’re using the closest proximity.
Now what if you don’t have it though what if nothing has sold in the last three to four months now what do you do when we talked about this before but this wouldn’t experience if your agent comes in and can be so vital in getting you top tower and past sale because ideally they have seen a house similar to you that has the same a very nice school district at the same school district but it’s close it has closest same square footage it has some of the great things that your house has as far as living rooms dining rooms and they can give you a very good idea on what that pricing is going to be to get you Topsail that’s important to know so if they don’t have that information that should be okay if they have experience they should be able to be able to give you still a good professional opinion of what your house will sell for in the open market.
With that said we’re going to be talking in the next segment about some more great information that I think that you’re really going to appreciate listen grace had so much girls playing though