Home Selling in 39540>Question Details

Davidsearcyjr, Both Buyer and Seller in 39540

If the average listing price is 137, 614 but the houses on my block are going for 99,000.

Asked by Davidsearcyjr, 39540 Sun Feb 6, 2011

How can I set my property above the rest to sell for the 137?

Help the community by answering this question:



The home in question can be listed for any amount you want. What's going to count are the (a) the recent sales in the general area; and (b) what an appraiser believes the property is worth.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon Feb 7, 2011
There are certain repairs and additions that can be added to the property to increase it's market value. Any type of additonal living space that is heated, has walls and flooring can add to value, such as a finished basement or bonus room. Also, if you add a closet and a door, then you have a bedroom. Add a bathroom or kitchen to a basement for more value. Cosmetic upgrades may or may not add value. Wood flooring instead of carpet, or ceramic tile instead of vinyl will add value. A granite counter top instead of formica, storm windows and doors, and energy efficient appliances, such as hot water heaters, heating and a/c systems, add value to the market price. Repainting or repairing the home will not add value. Items that are expected to be maintained will not add value. Replacing old carpet with new carpet is maintenance and will not add value. Replacing a white dishwasher with a stainless steel dishwasher will not add value unless the new dishwasher is more energy efficient. However, replacing old carpet with wood flooring is an upgrade and will add value. There are incentives available to investors and homeowners that choose to upgrade to energy efficient products. Ensure that the roofing system is efficient, along with the plumbing, heating and air conditioning systems. Check the energy rating for the doors, windows and insulation. Well designed landscaping could add value such as a fence, lighting and the addition of patios, walkways, decks, etc. The addition of security systems and intercom systems add value. One important note: The Listing Price does not always reflect the true value of the home. The price the Buyer's are willing to pay for the home, determines the market. The homes sold at 99,000 may be short sales or foreclosures. A Real Estate Professional would be able to research this transaction and provide you with advice concerning a fair market price for your property. Your price will need to fall within a Licensed Appraiser's determination of value, or your Buyer will have to make up the difference. Don't overprice yourself out of the market....give the Buyer's what they are looking for. Target your market, not your profit. Liquidate the propety for any amount of profit, as quickly as you can, and move on to the next property. The experience you gain from multiple property transactions will help you develop into a more knowledgable Buyer and Seller!
0 votes Thank Flag Link Mon Feb 7, 2011
Thank you for your time. I was doing some research. Little things make a big difference, yes? The house I was referring to for 99 says it is completely remodeled with tile throughout. Tile throughout seems a little much. I have broken tile with laminate. Am I on the right track? Also have tile half way up in bathrooms, and will have tile back splashes. Slight fancy tile design upon entry and in living room. Will do another fancy tile design in dining room. These are the things that set me apart yes?
0 votes Thank Flag Link Sun Feb 6, 2011
You can't do anything about it, but is your location on the block more desirable? Condition is a big factor in making your home more saleable. Fence, upgrades of kitchen, baths etc... can add some value, but is it enough to account for a $40,000 difference? I doubt it, do keep in mind that your home has to appraise. The appraiser will be pulling comps from your area.
0 votes Thank Flag Link Sun Feb 6, 2011
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