Friday, January 25, 2008

Recipe for a Sale

There are 5 main ingredients that make up the sale of your home:

1. Location
The phrase "Location, location, location" says it all. 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. Pricing of your property must reflect its condition.

3. Price
Price is the number one factor in the sale of a home. The value in a property is what one person is willing to pay another to gain ownership of it. Price must be in direct relationship to the other ingredients.

4. Terms
The more terms available on your property, the more potential purchasers you reach. Pricing your property must reflect the kinds of terms available to purchase it.

5. The Market
Interest rates, competition, and the economy all make up and influencethe state of the market when you sell your property. 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 a longer time to sell, and the more ingredients out of line, the longer it will take before the sale of your home takes place.