Home Purchase Price In The Context Of Needed Or Wanted Further Improvements


Home Purchase Price In The Context Of Needed Or Wanted Further Improvements
By Scott Rogers • August 22, 2024
Many houses are still selling (going under contract) very quickly, sometimes with multiple offers. Some houses are not. Frequent feedback on houses that do not quickly go under contract is something along the lines of... We like the house... and the purchase price could work for us... but it's at the top of our price range... and we would want to (or need to) make a variety of further updates or improvements after closing. And so... these would be buyers of the could be home... don't make an offer. If you are in the process of selling your home, and you are getting this feedback (like the house, price is OK, but would want to make updates) this can almost always be translated into or better understood as... your list price is too high. Oversimplifying a bit... If a 2400 SF home is listed for sale for $500K and a buyer is comfortable paying $500K for a 2400 SF home... but they would want to (or need to) make $20K - $30K of improvements after purchasing the home... ...then they are not going to be willing to pay $500K for the house. If your house does not go under contract quickly once it is listed for sale, patiently sort through the feedback... but understand that much of the feedback (particularly the feedback described above) can be translated into feedback on your list price. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 23, 2024 (unless otherwise noted).
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