Home Price And Property Condition Intertwined

Feb. 22, 2012 - PRLog -- « Buying A Home From Start To FinishHome Price And Property Condition Intertwined
February 22, 2012 by Johnny Brooks | Edit

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As we slowly recover from the housing market debacle and the plethora of foreclosures and short sales, one element has created a strain and curtailed a quicker comeback. Many home prices and the general condition of that property are not conducive to a home actually selling. This dilemma has had a negative impact on our recovery. When homes linger on the market, this sends a bad message to home buyers. They become cautious and more likely to delay buying a home until prices come down.

Today’s home buyer will not blindly bid on a home without knowing the activity surrounding that property including properties that have sold and active listings on the market. Condition has become an important factor whether a home sales or becomes a casualty of the housing recession. Unfortunately, it’s common for a property to sit on the market for months and become stale, then out of frustration the owner decides to pull their property from the market.Those sellers are disappointed with the successes other neighbors have had selling their home, but fell to realize those neighbors had properly priced their home on par with the condition.  

Every home does not have the luxury of the perfect location, therefore sellers have to be conscious of their homes price and condition. Just because the home down the street received a full-price offer in seven days does not mean you’ll be so blessed. Step outside the box and look at your home subjectively or have friends give you an unbiased opinion of your homes condition. Armed with this information, then have your listing agent take you out and view the properties in your immediate neighborhood.

The concept of pricing high, we can always reduce it later is a strategy that many homeowners live to regret. The first few weeks on the market are the most critical time. Properties that usually garner full-price proposals do so during this small window. A well-maintained home, combined with a competitive price will be attractive, regardless of the time of year or the economic environment. Most buyers will bypass houses that have been sitting on the market too long, even though those sellers might have made price adjustments throughout the process. A number of homes will transfer this year and the glaring fact will be the price and condition were in line with buyers expectations. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my other informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.