By Noel Peebles
Co-Author For Sale By Owner Home Selling Secrets ebook.
Marketing Tip 1.
Think about selling when you are buying.
There is an old saying in real estate marketing:
"when buying and selling a home... always begin
with the end in mind." This is true because, eventually,
every home gets resold. So, before buying a home, it
is
important to consider its likely value, if you to try
and resell the property either now or in the future.
What seems like a bargain when you buy, might become
a nightmare when you come to sell. Right now you may
be
able to live with something adverse for the price, but
when
it's time to sell you might find buyers won't.
Selling a home in a buoyant real estate market is relatively
easy regardless of its location or condition. But, buying
and
selling a home in a tight real estate market, is a whole
different ball game. Buyers become more selective.
Marketing Tip 2.
Know what is a poor location.
Another saying in real estate marketing is:
"buy the worst house in the best street, not the
best
house in the worst street." This is very true if
you
want your property to increase in value over time.
Remember: Location, location, location.
You can change everything about a house except it's
location.
Buying and selling a home in a bad location can be
fraught
with problems when you come to resell. A less desirable
location usually results in a lower selling price.
Here are some examples of locations that can affect
resale:
- Under an airport flight path
- In a rundown block or neighborhood
- Located on a main feeder street
- Center of night life activities
- Next to a school yard playground
- In or near a gang territory
- Next to apartments or commercial/industrial properties
- Close to a freeway, expressway or railroad
- Near a gas station, power pylons, municipal garbage
or toxic waste dump
- Near factories, farms and processing plants (odors
can be a problem)
- Below the road, damp, shady, cold properties
- In a town or city affected by the closing of a major
employer
Marketing Tip 3.
Know what increases the value of a property.
The value of a home is based upon recent sales of the
similar
neighboring homes in the market as well as rentals and
listing
data. Ideally, appraisers want to compare sales of properties
of
the same size, age, condition, room count, in the same
area and
with similar amenities. Finding a perfect comparison
rarely
happens, so adjustments have to be made, based on what
the
market will pay a higher price for.
Additional features and benefits can increase the value
of
a particular property. Things like: extra square footage,
if its well maintained inside and out, bedroom number,
heating system, air conditioning, parking facilities,
decor,
swimming pool, views, sun, access, lot size, location
and so on.
But, when buying and selling a home, what happens outside
the property boundary can also dramatically influence
its
value.
Homes appraise for more and real estate marketing is
lot
easier when properties meet these criteria:
- Located in a good school district
- Additions comply with the proper building permits
- Additions conform with and suit the existing home
style
- Not over improved or the largest house on the block
- Neighboring properties are well maintained
- Style of the house fits with those in the neighborhood
- Zoning changes are not expected
Marketing Tip 4.
Know which areas will give you the best capital growth.
The key to buying a home that will increase in value
is choosing the right location.
As an example; the outer more remote areas which are
likely
to experience the greatest capital growth are those
that
have fast rail and road access to the city, shops, schools,
hospitals and recreational facilities.
In more affordable neighborhoods, capital growth is
generally
more likely when buying a home close to facilities,
services
and areas of employment.
Above all, when buying and selling a home, remember
that
real estate marketing is demand driven!
More Tips!
Here's another buying and selling a home tip for you.
When buying a home with an addition:
Always verify that it was built with a permit prior
to
closing the sale. Get copies of the permits before final
sign off. Never accept the sellers' word for it.
If you want to refinance or sell at a later date, the
appraiser will need to verify the addition being permitted.
A failure to get verification could mean: no new loan
or
worse still. . . no sale.
When selling a home with an addition:
The golden rule: when adding onto your house - always
obtain
a building permit. When the time comes to sell or refinance,
the frustrations of the building permit process will
be worth
it. Always save copies of the final permit sign offs
and keep
with your house papers.
© Noel Peebles, Market Leaders ebooks.
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Noel Peebles is author of the best selling ebook
"173 Powerful Ideas, Tips, Tactics And Proven-To-Work
Strategies To Sell Your Own Home."
For details http://www.forsalebyownerguide.com
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