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Pricing Your Property


A house properly priced is half sold. But there are plenty of ways to price it improperly.

You can't go by what you paid for the place. Perhaps you bought two years ago when local prices were skyrocketing, and things have cooled off since. Perhaps houses like yours can now be bought for less, and if you hold out for what you paid, you'll just waste your time.

On the other hand, perhaps prices in your area have taken off, and you'd short-change yourself if you just tried to "get my money out" (but you'd have a fast sale).

You can't go by how much you've spent on improvements. A given street will support only a given price range. If you've invested so much that yours would be the most expensive house on the street, the buying public is not likely to reimburse you.

You can't go by your tax assessment figure. Even in communities that aim at full-value assessments, the figures are almost never in line with what buyers are currently ready to pay.

So how do you price your house?

By putting yourself in a buyer's shoes.

What else is for sale in the area? How does it compare with your house? How long has it been on the market? What has sold recently, and how much did the buying public value it at? What has failed to sell in the past year?

Any good broker can furnish the data you need, often in the form of a chart known as a CMA, Comparative Market Analysis.

And once you have it, again think like a buyer. What price would it take for you to look at a list and say to an agent "Take me to see that one"?

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MORE RESOURCES:

Monmouth Real Estate Investment Corporation Reports 1st Quarter Financial Results
PR Newswire (press release)
8, 2012 /PRNewswire/ -- Monmouth Real Estate Investment Corporation (the Company) (NYSE: MNR) reported funds from operations (FFO) of $7450000 or $0.20 per share for the three months ended December 31, 2011, as compared to $6596000 or $0.19 per share ...

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REAL ESTATE: Refinancing program expands for Fannie/Freddie borrowers
Press-Enterprise
With the changes that are expected to make the program much more effective, the program is being called HARP II by those in the real estate and mortgage industries. Probably the most significant improvement is that it lifts the ceilings on the amount ...

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Local real-estate developer shares his love of Mardi Gras
Houma Courier
Local real-estate developer SP LaRussa walks through the Krewe of Hercules' den making sure that the krewe is ready to roll Friday night. By Eric Heisig Local business owner SP LaRussa, 70, is known to many as “Mr. Mardi Gras” around this time of year.

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Houston-Based Real Estate Developer Closes More Than $75 Million in Healthcare ...
MarketWatch (press release)
Medistar Corporation is a full-service real estate development company that specializes in the design, development, financing and construction of healthcare real estate. The company focuses on medical office buildings, integrated medical plazas and ...

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Property Magazine

It's time to kick off the local real estate market
Half Moon Bay Review
If you're a faithful reader of the Half Moon Bay Review real estate section, then you are familiar with “white death,” a term that Realtor Steve Hyman has used to describe the slow winter real estate market between Thanksgiving and Super Bowl Sunday.
The Real Estate Book Includes Free Agent Mobile Websites in Advertising PackagesPR Web (press release)
REALTOR(R) University Granted Approval to Offer Master of Real Estate Degree ...MarketWatch (press release)
Web Winners: Navigating real estate industryNews & Observer
PR.com (press release) -Property Magazine
all 17 news articles »


Real estate field reacts to SD MLS's data idea
U-T San Diego
Real estate bloggers in San Diego and elsewhere applauded and booed the San Diego region's MLS after it said it will allow members to enter their contact information into a new field that could be featured prominently on real estate search sites such ...

and more »


Cole Real Estate Investments Executes Nearly 640000 Square Feet in Retail ...
San Francisco Chronicle (press release)
Cole Real Estate Investments (Cole), one of the nation's leading investors in high-quality, income-producing retail, office and industrial real estate assets, announced it signed leases totaling nearly 640000 square feet at Cole-related retail ...

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Real estate lawyer admits stealing $360000 from clients
The Journal News | LoHud.com
A New York City real estate attorney with a White Plains office admitted Wednesday that he stole $360000 from two sisters over a two-year period. Fred Rosenberg, 57, pleaded guilty to second-degree grand larceny, a felony, in Westchester County Court ...

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Former real estate broker found guilty on 12 counts of forgery
Journal and Courier
5:55 pm A Tippecanoe Circuit Court judge has issued guilty verdicts for 12 counts of forgery in the trial of a former Lafayette real estate agent accused of falsifying sales disclosure records in order to avoid property taxes.
Real estate broker faces felony chargesWLFI.com

all 6 news articles »


Tossed® Hires Real Estate Veteran A. Michael Toroyan as Chief Development Officer
MarketWatch (press release)
Toroyan, a 20-year veteran of the restaurant real estate, and franchising, will bring even greater momentum to Tossed's strong and growing franchise development efforts across the US Toroyan comes to Tossed Franchise Corporation from a previous post as ...

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