If we could bottle and package an iron-clad guarantee of getting top dollar for every property that comes on the market, I’d be dining and rubbing shoulders with Bill Gates and Warren Buffett. It’s highly unlikely a tract home on a busy street will attract equal value as the same home in a quiet cul-de-sac. Or a rehab property will garner the same value as a pristine home down the street. The housing market is ever-changing, based on many different elements. If you have that home in the cul-de-sac and recently remodeled, you’re sitting in a position of strength. Too many homes with deficiencies are coming on the market, expecting top dollar.
Sellers and buyers have different opinions of what top dollar means when it comes to the worth of a home. Owners always feel their home has more value than the neighbor’s home that just sold and buyers feel your home is worth much less than your neighbors property. Timing plays an important role in rather a home obtains the highest price, along with the amount of competing properties on the market. It’s inconceivable that you’ll get the same price for your home with a pool in December as you might in the summer months. It’s improbable your property gets more value than the last few comparable sales, unless there is some justification such as a major remodel or the obvious location factor. Sellers have to grasp reality and understand that buyers will ultimately determine what top dollar might be.
Owners would be wise to price their property initially under fair market value with the possibilities this approach will generate multiple offers that in turn, will exceed your price expectations. Buyers are real estate savvy and are looking for the best deal. Most consumers are searching for similar types of properties, well maintained, good location and affordably priced. If an owner can accommodate home buyers with those attributes, then top dollar is attainable. Too many sellers want the optimum price, but forego the work necessary to obtain the apex of value. If sellers are competing with bank-owned properties or short sales, this will have an adverse effect on the value. An owner might ignore those blights on the market, but the appraiser for the buyer of your home will not. Selling your home at top dollar is never guaranteed. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my other informative blogs and to view local area homes for sale in Davis, California and the surrounding communities.