Listing Courtesy of VICKIE YORK AT THE BEACH REALTY
A Ocean View listing can be a smash hit when the pictures show a property that’s cosmetically appealing, the copy rings true, and the details hit the sweet spot where features and value are a match for the best the area has to offer. But it still might not be as effective as it should be if one other detail is a little bit off. It’s a detail that can cause qualified buyers—the ones who should be a home’s most interested prospects— to miss the whole show.
I suppose that calling that part of a Ocean View listing a “detail” is like calling the end score of the NBA’s final playoff a detail—or calling the final vote count in an election a “factor.” It may be just one element of many, but it is uniquely important. In a Ocean View listing, it’s often the first element that shoppers specify when they’re picking which area homes they will consider. If it’s not thoughtfully calibrated to fall within the parameters they name, the results may suffer considerably.
Of course, the “detail” we’re talking about is the price on the listing, and choosing the “right” one is the object. We’re looking for a number that will help a home sell quickly at the highest price possible. If the neighborhood comps—the prices paid and asked for nearby area homes with similar features—were all that mattered, coming up with the most suitable listing price would be a cut-and-dried affair. But there are other factors that need to be taken into account. Some are easy to determine, some…not so much.
· the Ocean View residential market is a moving target, sometimes building from a lower level, sometimes echoing the latest transactions, sometimes losing momentum.
· competitive Ocean View listing prices reflect either other sellers’ best estimates of that market for their properties, or else their personal opinions of what they think the market should be--but there’s no way to verify which!
· the final selling price of any home is determined not only by the seller’s situation, but by the buyer’s, also, which is a factor which cannot be determined in advance.
That’s why there is no universally agreed-upon formulas to rely upon, and since there is no way to determine what outcome would have resulted if a different price had been chosen, there’s also no way to verify after the fact if the absolute “best” one was chosen—even if everyone considers the sale a great success! Web titan Zillow says, “if the home sells within a few days of listing, chances are you listed too low” yet if a higher price had been chosen, causing that home to linger for months on the market, it wouldn’t have been listed too low. On the other hand, if the listing price were set to court multiple offers, a quick sale could mean a higher selling price was achieved. There’s simply no way to know for sure.
Put it all together and you have to figure that arriving at the right listing price is really more of an art than a science. I help clients by pooling my extensive Ocean View experience, up-to-the minute market knowledge, and detailed examination of the property’s unique attributes to suggest the range of listing prices I judge most likely to achieve the Holy Grail—a quick sale at top dollar! If you’d like, we can get together for a no-obligation discussion of your own property’s listing prospects. It’s a great reason to give me a Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
One of CNN’s most popular sites is called CNNMoney. Dollars and cents are its singular focus—no film reviews, fashion statements, or political insights. For Ocean View readers minding their bank accounts, it makes consistently interesting reading.
The other day, an eye-catching ad for CNNMoney appeared on the screens of real estate sites. If you’d been browsing the Ocean View listings, there it was, with this challenge: “Are you a home buying genius?” For anyone who couldn’t be absolutely sure of the answer, the ad led to an online quiz. A simple mouse click brought up the first question.
It was a good thing CNNMoney isn’t called CNNGrammar, because the first question was “How will a bad credit score effect (sic) your ability to buy a home?” The choices were four, starting with “I may not qualify for a mortgage.” Then came, “I may need a bigger down payment;” “I’ll have to pay a higher mortgage rate;” and the last, “All of the above.” They all looked possible, so Ocean View home buying geniuses had an easy time with that one.
But others could have tested the neurons of any home buying Einstein.
“What’s the most surefire way to get the financing you need?” was one. “Play the Powerball” was clearly not the right answer, but the difference between “Get pre-approved for a mortgage” (choice #2) or “Have the mortgage pre-underwritten” (#3) might depend on the Ocean View mortgage broker’s office terminology. If you went for #3, you got it right.
If you knew that Ocean View closing costs usually run between 2%-5% of the selling price, you had another right answer. Likewise, if you chose the standard “28% of your gross monthly income” as the most you should budget for a mortgage payment. By now, it had become clear that this quiz had been put together by someone with an interest in promoting mortgage loans. All the questions were dealing with mortgages, and now ads for national mortgage outfits were beginning to appear at the bottom of the screen. Since this is nothing new when it comes to web quizzes, most readers would have kept at it.
They would have run into one question about how much savings you “should have left” after you buy a home—the kind of question that could start a debate. This one could challenge any genius. For instance, if you are The Donald, you really wouldn’t need the “at least six months’ worth of savings” that was ruled the right answer. The explanation sounded reasonable (“you’re probably spending freely to furnish or update the place”), but what if you had just bought a new home or one of the spotlessly renovated Ocean View listings that are now on the market? The amount it would cost to move in could just as easily be next to nothing!
Such quibbling in internet quizzes isn’t allowed. If you got all the answers right, you were pronounced a home buying genius (with an exclamations point)…and an offer to tell the world via Facebook or Twitter. If not, you could retake the test before you told anyone anything, which does seem a little bit like an offer to peek at the teacher’s answer sheet…
In my opinion, you don’t have to be a Ocean View home buying genius to score a spectacular home in this summer’s offerings. The properties are there, and the financing numbers are still historically terrific! It won’t hurt to have a knowledgeable professional clearing the way, either. Just call, anytime! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.