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Selling Conditions - Tuesday, September 28, 2010
Given today’s market conditions sellers need to accomplish two things:
- Polish their properties to shine their very best
- Price their properties very accurately
Failure to do one or both will prevent a successful outcome.
Under the microscope - Shining the light on the property
Presently only properties that look their very best and are priced right are moving.
Properties should be staged, freshly painted, have new or nicely done floors and be clean and should show as little deferred maintenance as possible.
Sellers can obtain a very high return on their incremental investments in:
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Painting
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Staging
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Refinishing or replacing old floors or carpet
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Replacing old kitchen appliances
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Landscaping
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Repairing broken fixtures and trim (electrical or plumbing)
We typically conduct on site inspections to advise clients on cost effective investments that return net returns far greater than the costs of these investments.
Pricing
Asking prices must be fair or desirable. In today’s world almost any property sees competing inventory at relatively desirable price points. Again, quality attracts its own demand, but all properties are subject to some price competition. This holds true since values are often a function of the subjective views of competing offerings.
Current high inventories drive the need to accurately, objectively price listings. Wishful thinking is not rewarded in the existing marketplace. Sellers should consult reputable sources in seeking assistance in pricing their properties before placing them on the market.
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