Finding the List Price “Tipping Points”

 

Setting the right list price for a home is a mystery for many sellers. How do you begin to determine what buyers are likely to pay for your property? After all, no two homes are exactly alike.

 

Yet, setting the right price is crucial. You need to avoid the two price “tipping points” that, if crossed, can cause you a lot of problems.

 

The first tipping point is a price that’s low enough for buyers to begin thinking something is wrong. They wonder, “Why is your price so low? What are you not telling us about your property?”

 

But that’s not even the worst problem with this tipping point. If you do get offers at that low price, you’ll have a bigger issue – leaving thousands of dollars on the table.

 

The other tipping point is setting your price so high it discourages buyers from giving your listing a second look. When your price is that high, you’ll get few enquiries and even fewer people coming to see your property.

 

Of course, you can lower your price later, if necessary. But experience shows that reduced prices make potential buyers skeptical. Most sellers who price high in the hopes of getting a windfall actually end up selling for much less than they would have if they had priced their properties correctly in the first place.

 

So what’s the right price to list your property? The answer is somewhere in-between those two tipping points.

 

Call today for help determining the right price for your property.

 

Looking for a good REALTOR®? Looking for more ideas on making smart decisions when selling or buying a home? Call Donna at The Barrie Home Hunter Team today.  Follow us on FacebookInstagram and Pinterest

Read Full Story


Should You Move or Renovate? Three Things to Consider

 

Determining if you should buy a new home or fix up your current one isn’t easy. In fact, the decision can be steeped in so much drama they make reality TV shows about it!

 

So if you’re considering whether to move or improve, here are three things to consider.

 

1. Will a renovation truly fix what you don’t like about your property?

 

If you’re tired of a small kitchen, for example, it might not be possible, given the layout, to make it any bigger. On the other hand, if you’re craving a spacious rec room with a cosy fireplace then a renovation could make that happen.

 

Of course, there are some things you may want that aren’t specific to your house, such as an easier commute or nearby park. Those are features you may only be able to get by moving.

 

2. How much will a renovation cost? How does that compare to the cost of moving to a new home?

 

It’s important to get accurate estimates of each so you can make a smart decision. This is where a good REALTOR® can help.

 

Keep in mind that renovations have a habit of costing more than you originally anticipate. As mentioned earlier, the final result should be a home you want to stay in for quite some time.

 

3. Beware of compromising versus settling.

 

Whichever decision you make — renovate or sell — you can expect to have to make at least some compromises. That’s normal.

 

For example, consider adding an extension to your house. That’s a major renovation. Is it the ideal way to get the extra room you want? Do the benefits of renovating outweigh the benefits of finding a new larger home designed to include the space you need?

 

Yes, it’s a tough decision. If you’re in the midst of making it, call today, to get the facts you need to make the best choice for you.

 

Looking for a good REALTOR®? Looking for more ideas on making smart decisions when selling or buying a home? Call Donna at The Barrie Home Hunter Team today.  Follow us on FacebookInstagram and Pinterest

 

Helping you move, Confidently! 

Read Full Story

 

How to Reduce the Chance of A Burglary by 90%

 

 

No one wants to deal with a burglary. How do you reduce the chances of one happening?

 

Fortunately, burglaries are a well-studied phenomenon — especially by law enforcement. These studies have identified specific things you can do to cut the risk dramatically. Here are some ideas:

 

  • 34% of home break-ins occur through the front door. Experts recommend investing in a door with a top-quality locking mechanism. (The best are those that lock at three points of contact.)

 

  • 50% of burglars will be deterred if your home has some sort of video monitoring system. A thief doesn’t want his face on YouTube!

 

  • Unfortunately, signs and window stickers warning of an alarm system do not deter thieves. However, 62% of burglars will immediately run away when an alarm goes off. Always turn on your alarm system when you’re not home!

 

  • 22% of burglaries occur through a sliding glass door or patio door. Make sure it’s locked and also use a solid metal jammer.

 

  • Some thieves use frequency scanners to gain access to garages. Police recommend changing your remote entry code regularly and putting blinds or curtains on garage windows so thieves can’t see (and be tempted by) any valuables inside.

 

As you can see, there are many simple things you can do to reduce your chances of a burglary dramatically. The effort is worth it.

 

 

Looking for a good REALTOR®? Looking for more ideas on making smart decisions when selling or buying a home? Call Donna Hunter at The Barrie Home Hunter Team today.  Follow us on FacebookInstagram and Pinterest

 

Helping you move, Confidently! 

Read Full Story


How the Wrong Pricing Strategy Can Cost You Thousands

 

As you’re probably aware, the list price you set for your property has an impact on how quickly it sells — and how much you earn on the sale.

 

What you may not realize is just how significant an impact it has. Consider the following examples.

 

Example 1:

You price your property well above its current market value. As a result, many buyers don’t bother to see it because it’s outside of their price range. Those who do see it are confused by the high price tag, (and may even be suspicious.) They may wonder, “What’s going on?”

 

In this scenario, the home will likely languish on the market for weeks or even months. You might even have to lower the price dramatically to re-ignite interest.

 

Example 2:

You price your property just a couple of percentage points lower than what is necessary to gain the interest of qualified buyers. That might not seem like much of a problem. How much can a couple of percentage points matter?

 

Those points matter a lot.

 

On a $400,000 property, pricing your home just 2% lower than necessary could cost you $8,000 on the sale. That’s a serious amount of money!

 

So, as you can see, pricing your home right is serious business. Fortunately, a good REALTOR® knows how to set the right price.

 

Looking for a good REALTOR®? Looking for more ideas on making smart decisions when selling or buying a home? Call Donna at The Barrie Home Hunter Team today.  

 

Follow us on FacebookInstagram and Pinterest

 

Helping you move, Confidently! 

Read Full Story
The trademarks MLS®, REALTOR®, and the associated logos are owned or controlled by The Canadian Real Estate Association. Used under license.