Monday 23 July 2012

A good real estate Top 10 list

HGTV and their frontdoor.com site

While I admire all TV shows pertaining to real estate and watch many of them, you do have to realize each real estate transaction is unique, and each geographic area has its trends and quirks.
In 2005-06, we had many multiple offers in Oxford County. In 2012, there are very few.
Many television shows and stations now have their own websites with a ton of well-researched reading material -- information.
Maybe the best one is www.frontdoor.com which is the brainchild of HGTV.
If you're thinking about buying a house you can follow @MarkRoyalLepage and @HGTVfrontdoor.
They recently posted quite a thorough Top 10 list of tips for people thinking about selling their home. While in Woodstock you can avoid the idea of listing below market value to attract multiple offers, much of the list is very good indeed.
Naturally, you shouldn't over-improve your home unless you plan on staying there a long time. There is a lot more good advice to be found at:
Mistake #1: Overpricing
You obviously want to get the highest possible price for your home, but you won't be doing yourself any favours if you price your home higher than the comps, i.e. the comparable homes in your area with similar square footage, construction, age and condition that sold recently or are currently on the market.
Serious buyers are well-informed and will instantly dismiss your property if they believe it's overpriced. (Hence, all the price reductions in today's market.)
On the other hand, pricing competitively (read: lower than similar homes in your area) will spark lots of interest in your home and could lead to multiple offers -- and, ultimately, a higher sales price.

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