Recipe For A Sale
There are 5 main ingredients that make up the sale of your home:
1. LOCATION: We usually cannot move a home!
To coin the favorite phrase of appraisers: “Location, Location, Location”. The pricing of your property must reflect its location.
2. CONDITION: The upkeep and presentation of your property is crucial to obtain the highest value for your home in any given market at any given time. The pricing of your property must reflect its condition.
3. PRICE: Price is the number one factor in the sale of a home. A property is worth what a willing and able buyer is willing to pay to gain ownership of it. Price must be in direct relationship to the other 4 ingredients and it is the most important of all!
4. TERMS: The more terms available on your property the more potential purchasers you reach. The pricing of your property must reflect the kinds of terms available to purchase it.
5. THE MARKET: i.e., Interest Rates, Competition and the Economy all make up and influence the state of the Market when you sell your home. The pricing of your property must reflect the current status of the market.
When all of the above ingredients are in agreement...we have a sale! If just one of them is out of line, it will take longer time to sell, and the more ingredients that are out of line, the longer it will take before the sale of your home takes place.