July 11, 2010

P-R-I-C-E: The Key to Selling

Posted to Geneva Lake Area , Janis Hartley

Price. In Walworth County, as in most areas, it’s the all important question in real estate. It used to be location, location, location but in today’s economic times it’s price, price, price. So, how do you make sense of this slippery subject? Today’s buyers will trade location for value; they’ll give up the beautifully renovated home close to Lake Geneva for the country cottage more than 30 minutes north to get greater perceived value in a better price. Pricing is an art – not a science. Part of it is gut feeling, part of it is assessing supply and demand, and part of it is pure number crunching, determining comparable sales (which can be few to none) and studying the competition. Some sellers still refuse to accept the fact that prices have indeed leveled off. If you are one of those sellers, chances are your property is overpriced and it will not sell. The most important response a seller can have if they are serious about selling is to become extremely realistic about pricing. While it’s discouraging to realize you may not realize as much profit as you would have six years ago, the good news is that qualified buyers are buying and the market is coming back. So, jump in with both feet and get a SOLD sign on your front lawn.

Posted by:  Janis Hartley

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