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Metropolitan Pittsburgh Real Estate
What Makes Pittsburgh Real Estate Sell? What Makes Pittsburgh Real Estate Sell? Books have been written about this topic but to be concise, successful sale depends on six factors: Price; Terms; Location; The Home’s Condition; The Home’s Accessibility and the Marketing exposure the Pittsburgh real estate receives. Price is what a willing seller and a willing buyer agree on. Price is determined by the current market, which fluctuates causing home values and prices to fluctuate. Often Pittsburgh real estate that does not sell is over-priced for the current market. Terms can vary as well. Some owners want payment in full, some are willing to carry a second. Location is a major consideration in pricing and desirability. Has the neighborhood gone to pot or does it look like a street at Disneyland? Are there open spaces nearby or is the home located in the middle of commercial district? The Condition affects its salability and possibly price. Pittsburgh real estate that is in move-in condition will usually sell for a higher price than a home that suffers from deferred maintenance. The Home’s Accessibility refers to just that. Is the Pittsburgh real estate accessible to shopping and local transportation? For some this would be a necessity and for others, the more remote the better. Marketing Exposure refers to how Pittsburgh real estate is advertised. Today the Internet is a fantastic way to market a home but it is still true that the best service a listing agent can do for sellers is to promote the home heavily with local brokers and agents. The Internet and other advertising certainly help, but it is still true that in most cases it is the agent that sells the home by making sure the right buyers know about it. BEST TIME TO SELL People often ask me when is the best time to sell my Pittsburgh home? I usually reply that if you want to get the best price for your home, it is wise to give yourself as much time as possible to sell it. However peak selling seasons vary in different areas of the country and weather has a lot to do with an area’s peak season. For example, late spring and early fall are the prime listing seasons in many areas because houses tend to “show” better in those months than they do in the heat of summer. Having said that, houses sell in every season in areas where there is a demand. By demand, I mean a significant number of prospective buyers moving to the area for a variety of reasons. THE PROFIT MOTIVE If your only reason for selling your home is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the home for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low. |
