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Pricing Your Property


A house properly priced is half sold. But there are plenty of ways to price it improperly.

You can't go by what you paid for the place. Perhaps you bought two years ago when local prices were skyrocketing, and things have cooled off since. Perhaps houses like yours can now be bought for less, and if you hold out for what you paid, you'll just waste your time.

On the other hand, perhaps prices in your area have taken off, and you'd short-change yourself if you just tried to "get my money out" (but you'd have a fast sale).

You can't go by how much you've spent on improvements. A given street will support only a given price range. If you've invested so much that yours would be the most expensive house on the street, the buying public is not likely to reimburse you.

You can't go by your tax assessment figure. Even in communities that aim at full-value assessments, the figures are almost never in line with what buyers are currently ready to pay.

So how do you price your house?

By putting yourself in a buyer's shoes.

What else is for sale in the area? How does it compare with your house? How long has it been on the market? What has sold recently, and how much did the buying public value it at? What has failed to sell in the past year?

Any good broker can furnish the data you need, often in the form of a chart known as a CMA, Comparative Market Analysis.

And once you have it, again think like a buyer. What price would it take for you to look at a list and say to an agent "Take me to see that one"?

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Forbes

Why Real Estate Entrepreneurs Should Retire The Term 'House Flipper'
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Working in real estate for five years now, however, I have the learned the vast difference between reality and reality television. One big thing I've realized along the way is that the term “house flipper” is quite often a misnomer. In fact, I'd even ...



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When I first started working with large multifamily lenders, I was surprised how few of them made loans for apartments under 50 units. Since larger transaction volumes support larger fees, it makes sense that nearly all of the major real estate lenders ...



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Real Estate Agents Answer: What Should Buyers Look For In A Home?
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Suddenly, everyone seems to have an opinion on which features your new home needs to have. We thought we would take this debate to the experts to settle it once and for all. In that light, we asked real estate agents what buyers should look for in a home.



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St. Louis' Real Estate Market Just Keeps Getting Tighter and Tighter
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If you're seeking to buy a reasonably priced house in the St. Louis area, may we offer our condolences? The region's real estate market, which has been on a hot streak for a few years now, just posted another set of monthly numbers that speak to just ...



Hartford Courant

Real Estate Alphabet Soup
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BPO (Broker's Price Opinion): The real estate broker's opinion of the expected final net sales price, determined prior to the acquisition of the property. CMA (Comparative Market Analysis): The analysis used to provide market information to the seller ...
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seattlepi.com

Thurston County remains hot in a cooling real estate market
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Thurston County remains hot in a cooling real estate market. Blame it on the affordability. By Zosha Millman, SeattlePI. Updated 11:51 am PDT, Wednesday, September 19, 2018. A bright home with laminate floors, soaring ceilings and air conditioning.



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In The Changing World Of Commercial Real Estate, A Degree Is Becoming A Requirement
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For Casey Flannery, an administrative job out of college at a commercial real estate firm in Memphis, Tennessee, soon sparked an interest in trying her hand at brokerage. But it was only after Flannery, 29, took that position that she realized the ...



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