26 Udine St, Arlington

Market Analysis for:

Brian and Katherine Emmet

Date prepared: 5/18/2018

I've done a market analysis on your home at 26 Udine St in Arlington and have prepared this document to help explain how I've arrived at a price for your home. I perform a market analysis and calculate a price taking into consideration a home’s location, size, configuration, number of bedrooms and baths, lot size and general condition. I also take into account your reported condition and how, in my experience, that will impact the price of a home making it more or less valuable.  

Contents

  1. Description of Home
  2. Market Dynamics
  3. Analysis of Relevant Properties
  4. Pricing Recommendation
  5. Marketing

Description of home

Please note that these comments do not relate to marketing, but are included purely to ensure that we have captured the information and reflect the major components of your home.

The home is a Cape built in 1950 and located on a corner lot along a quiet side street in a neighborhood within the popular Dallin School district. The home offers easy commuting with easy access to Route 2 and short walking distance to bus stops. Public record has the home at 1,714 square feet of living space, including the finished room in the basement, on a lot of 0.22 acres. There is a single car attached garage under the home and it has 4 bedrooms. Public record says the home has 1.5 bathrooms, and even though only 1 bathroom appears in the video Marcus mentions a half bathroom in the lower level.

The front entry leads into a foyer area with a hallway straight ahead and the formal living room on the right. Carpeting spans this area from the foyer into the living room. The carpeting will stay, but it is suggested it be cleaned. The formal living room opens to the dining room as the carpeting continues.  

Across the hallway is a bedroom with carpeting, wallpaper, and a closet. It was suggested the wallpaper be removed and possibly paint the doors white. Further down the hallway is another bedroom with carpeting and wallpaper. Similar to the first bedroom, it is suggested the wallpaper be removed and darker wood doors painted white. There are 2 bedrooms on the first level and 2 on the second.   

The second level follows the standard Cape layout with 2 more family bedrooms. The walls of the landing area and one of the bedrooms are covered in wood paneling. There is hardwood flooring throughout the second level. One of the bedrooms has a large panel of overhead lighting, which has a dated feel and takes up most of the ceiling. 

The full bathroom is fresh and inviting with a ceramic tile floor and tub/shower. The cabinetry is a darker wood which will present nicely painted white. 

The kitchen is full of natural light with a wall of large windows surrounding a breakfast nook. There is abundant cabinetry, ceramic tile flooring, and older appliances. It is suggested the cabinets be painted. The counters are laminate. A window over the sink offers view of the fully fenced backyard. Exterior access from the kitchen via the home’s side entrance leads to the driveway and backyard. The home has a large driveway area for plenty of off street parking. 

The lower level offers a finished room with carpeting and a closet. The laundry area is also on the lower level behind a set of doors. The unfinished space offers additional storage space with access to the single car garage. 

The home has a newer (10 year old) oil fueled boiler with hot water radiators and window A/C units.

Return to Top

Market Dynamics

We have been experiencing shortages of housing inventory in Arlington over the last 5 years or so. There are always a number of buyers looking to buy in Arlington because of the strong school system, the community dynamics and vibrant downtown. People like the feeling of the downtown area, and want to stop and have a coffee, or have dinner at the many restaurants, or just watch the world go by, chatting with folks who are out and about. The Minuteman bike path and conservation areas close by pull those who desire an outdoor lifestyle while still remaining within commuting distance to Boston.

The Arlington market has seen increasing prices over the last few years given the limited inventory. The demand for homes in Arlington far outweighs the supply and each month a snapshot of available homes for sale shows the declining inventory levels.

Average prices in Arlington are well above average prices obtained in the peak of the market in 2010. Average home prices have been increasing steadily since 2011. The real estate market downturn that existed for the last few years is well and truly over and prices are continuing to increase each year.

Sales distribution statistics for homes show that the $600K price-range is the most active in Arlington. The next busiest price range in Arlington is the $700K price range. 

Before reviewing the price per sq foot charts it is important to throw in a caveat of using the average as the definitive guide. There is wide variability among agents as to what is included in the living area reported in MLS. In some instances, agents will include a finished component of the basement in the living area and this is acceptable so long as how the living area is calculated is disclosed. Others report the living area reported in public record, which never includes finished areas in the basement, but note in MLS that there is a finished basement. To this end, it is important to review each individual listing to determine the ‘true’ price per sq. ft. of above ground living area, but we also need to factor into this when a home has a finished basement.

Reviewing the price per sq. foot charts for single family homes shows us that the average price per sq. ft. in Arlington around the $700K price range is around $450 per sq. ft. It’s important to note that the maximum price per sq. ft. achieved varies across most price ranges, along with the minimum obtained for each price range.

When the year built in the 1950’s the average price per sq. ft. is $409. 

The chart below shows that single family homes in Arlington of similar size to your home in the 1,000 square foot range, have an average price per square foot of $444 but it increases to $578 per sq. ft. when you decrease to the under 1,000 square foot range. It is common across municipalities to see an increase in the price per square foot for smaller sized homes, as it reflects the minimum cost of a home in a town irrespective of the property size.

The chart below shows how many months’ supply of inventory there is in a given price range. It uses the assumption that given the same rate of sales over the prior 12 months, and considering current inventory available for sale, how many months it should take to sell the available inventory. This is referred to “Absorption” in the real estate world. 

Any price range where there is more than 7 months’ supply, we consider there to be an oversupply of inventory, also known as a ‘buyer’s market’. Anything between 4 – 6 months is considered a balanced market. Anything less than 3 months’ supply is considered a shortage of inventory on the market at this price range, also known as a ‘sellers’ market’. As can be seen, currently, absorption rates for all price ranges is almost nothing indicating a severe shortage in every price range.

Return to Top


Analysis of Relevant Properties

The following map shows the  homes that we believe to be of value in determining the price of your  home. Below the map you will find basic information  provided for each home including the price the home was  listed at, and the price the home sold at (if sold), the listing date, Days on market, Bedrooms, Bathrooms, living area size and lot size.  Noted for each home is a classification of Relevance which outlines whether we think the  property is valued Less (L), Relevant/Comparable (R) or Higher (H) than  your home. The notes for each home outlines the similarities and differences between  your home and the one being analyzed.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This bungalow style home was built in 1938. It is smaller than your home with 1,475 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home the same number of bedrooms as your home,both having 4 bedrooms. It has the same number of bathrooms as your home, having 1.5 bathrooms. It sits on a smaller size 0.16 acre lot whereas your home sits on a 0.22 acre lot.
The living room has a fireplace with brick facing on veneer paneled wall, double windows, hardwood floors, and has access to the 3-season room through a french door. The formal dining room has china cabinet, wallpaper, crown molding, wainscoting, double windows, and hardwood floors. The kitchen has vinyl floors, dated wooden cabinetry, black appliances and exterior access. This level includes 2 bedrooms with hardwood floors and are adjacent to the main level bathroom which is original to the home with dated components. The 2nd level includes 2 bedrooms and a half bathroom. The half bathroom has wallpaper and is a little dated. Both bedrooms have sloped ceilings, veneer walls, and built ins.
This home has an attached single car garage and 2 car off street parking. It has hot water radiators, oil heating and central air cooling. It was initially listed for $659,000 but price was dropped to $649,000 before it went under agreement and was sold for $630,000.

Relevance: Less. Given the smaller size of the home, the smaller sized lot, inferior location, inferior condition I believe your home will sell for more than this home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This bungalow style home was built in 1931. It is of similar size as your home with 1,750 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home the same number of bedrooms as your home,both having 4 bedrooms. It has more bathrooms than your home, having 2 full bathrooms, whereas your home has 1.5 bathrooms. It sits on a similar size 0.22 acre lot as your home.
The main entry to the home is up a long flight of stairs. Upon entry from the covered porch, the living room has a fireplace, triple windows, hardwood floors, and has an open floor plan with the formal dining room. The formal dining room has triple windows, hardwood floors, and has a partially open floor plan with the kitchen. The kitchen is very dated and has a chair rail, double windows, dated wooden cabinets, and vinyl floors. This level also includes a bedroom, an office which has exterior access through sliders, and the main level bathroom. This bathroom has had some paint on the dated wall tiles and feels much fresher than the original. The 2nd level includes 3 bedrooms, 1 with a cathedral ceiling. The have wall to wall carpeting, and double windows and share a small family bathroom.
This home has an attached single car garage and 3 car off street parking. The attached garage does not have a driveway to access it so it has limited value. It has hot water baseboard, gas heating. It was listed for $595,000 and was sold for $655,000 after competing offers.

Relevance: Relevent, but less. Given the similar size, similar lot size, inferior location, inferior layout, inferior condition, albeit 2 full bathrooms I believe this home is relevant to your home but yours should sell for more.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This colonial style home was built in 1926. It is smaller than your home with 1,375 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home has 1 less bedroom than your home, having 3 bedrooms, whereas your home has 4 bedrooms. It has less bathrooms than your home, having 1 full bathroom whereas your home has 1.5 bathrooms. It sits on a smaller size 0.10 acre lot whereas your home sits on a 0.22 acre lot.
From the farmer’s porch, through french doors in the entry hall, the living room is on the left and it has a fireplace, crown molding, triple windows, hardwood floors, and has access to the formal dining room through french doors. The formal dining room has recessed china cabinets, triple windows, chair rails with wallpaper below, hardwood floors, and is partially open to the kitchen through a cased opening with a breakfast bar peninsula in between. The kitchen has a breakfast bar peninsula, ceramic tile backsplash, pantry, and ceramic tile floors. It has older unpainted oak cabinetry and white appliances. The 3 bedrooms and the only bathroom, are on the 2nd level. The bathroom is dated with original wall tiles, shower and small basic vanity.
This home has a detached single car garage and 3 car off street parking. It has steam radiators fueled with oil. It was listed for $599,000 and was sold for $665,000 after competing offers.

Relevance: Less. Given the smaller size of the home, less bedroom, 1 bathroom, half size lot, inferior condition of the home, similar location I believe your home will sell for more than this home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This colonial style home was built in 1936. It is a similar size to your home with 1,690 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home has 1 less bedroom than your home, having 3 bedrooms, whereas your home has 4 bedrooms. It has the same number of bathrooms as your home, having 1.5 bathrooms. It sits on a smaller size 0.10 acre lot whereas your home sits on a 0.22 acre lot.
The home has been freshly painted inside and shows well. The living room has a fireplace with brick facade and white mantel, crown molding, hardwood floors, and has access to the screened porch through a french door. The formal dining room has crown molding, wainscoting, hardwood floors and it is partially open to the kitchen through a cased opening and a passthrough window. The kitchen has a chair rail, ceramic tile floors, and has exterior access leading to the deck. It has lighter wood cabinetry, white appliances except for a black microwave. The bedrooms and the family bathroom, are on the 2nd level. The bedrooms have hardwood floors, and crown molding. The bathroom has been nicely updated and feels fresh and modern. The finished lower level has wall to wall carpeting and includes a frehsly painted wood veneer family room.
This home has an attached single car garage and paved 3 car off street parking. It has steam radiators fueled with gas. It was listed for $629,000 and was sold for $670,000 after competing offers.

Relevance: Relevant. Given the similar size of the home, similar condition once paint has been applied :-), albeit 1 less bedroom and half size lot, superior style (traditional colonial) I believe that once all factors are considered this home is relevant to your home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This cape style home was built in 1947. It is larger than your home with 1,887 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home has 1 less bedroom than your home, having 3 bedrooms, whereas your home has 4 bedrooms. It has the same number of bathrooms as your home, having 1.5 bathrooms. It sits on a similar size 0.24 acre lot whereas your home sits on a 0.22 acre lot.
The home has been completely renovated. The living room has a fireplace with white mantel, crown molding, double windows, and hardwood floors. The kitchen has granite countertops, black appliances, ceramic tile backsplash, double windows, modern ceramic tile floors, and has access to the family room. The family room has double windows, hardwood floors, and exterior access through 2 sliding glass doors. This level also includes 2 bedrooms with chair rails, and hardwood floors. The full bathroom is on the main level and has been completely renovated with a new modern vanity, new ceramic floor tiles and modern tiles around the tub/shower.  The 2nd level includes a bedroom along with storage, while the partially finished lower level includes 2 bonus rooms and the half bathroom.
This home has a detached single car garage and 4 car off street parking. It has hot water baseboard fueled with gas heating. It was initially listed for $729,900 but the price was dropped to $699,900 before it went under agreement with competing offers and was sold for $710,000.

Relevance: Relevant. Given the larger size of this home, similar lot size, renovated condition albeit with an inferior layout on the second floor I believe this home is relevant to your home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This cape style home was built in 1951. It is slightly smaller than your home with 1,640 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home has 1 less bedroom than your home, having 3 bedrooms, whereas your home has 4 bedrooms. It has more bathrooms than your home, having 2 full bathrooms whereas your home has 1.5 bathrooms. It sits on a smaller size 0.14 acre lot whereas your home sits on a 0.22 acre lot.
The home has been freshly painted and renovated inside and shows well. The living room has picture windows and hardwood floors. The formal dining room has wainscoting and hardwood floors. The kitchen is large and has  ceramic tile backsplash, ceramic tile floors, chair rail, double windows, black appliances, and has an informal dining area, and an exterior access to the deck through french doors. This level also has a bedroom with hardwood floors, and has an adjacent full bathroom. The 2nd level includes 2 bedrooms with vaulted ceiling, hardwood floors, and share a family bathroom which has a shower stall with frameless glass door. The lower level includes a playroom which has painted wainscoting, has been finished nicely, and wall to wall carpeting.
This home has an attached single car garage and paved 2 car off street parking. It has forced air, fueled by gas heating and central air cooling. It was listed for $699,000 and was sold for $750,000 after competing offers.

Relevance: Relevant, but higher.  Given the similar size, 2 full bathrooms, smaller lot but a similar desirability location, all bedrooms having access to a bathroom on the same level I believe this home is relevant to your home but it should sell for more.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This colonial style home was built in 1930. It is larger with 1,860 sq ft of approx. living area which is all above ground living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home the same number of bedrooms as your home,both having 4 bedrooms. It has more bathrooms than your home, having 2 full bathrooms, whereas your home has 1.5 bathrooms. It sits on a smaller size 0.12 acre lot whereas your home sits on a 0.22 acre lot.
The home has lovely curb appeal with a portico over the front entry. From the entry hall, the living room is on the left and it has a fireplace, coffered ceiling, wainscoting, triple windows, and hardwood floors and is partially open to the formal dining room through a cased opening and has access to the family room through a french door. The family room has double windows and hardwood floors. The formal dining room has china cabinet, wainscoting, crown molding, hardwood floors, and has an exterior access to the deck through double french doors. The kitchen has been newly renovated and has granite countertops, stainless steel appliances, double windows, modern white cabinetry, hardwood floors, and exterior access. The 2nd level includes 3 bedrooms with hardwood floors, and a family bathroom that has been nicely renovated. The master bedroom is on the 3rd level and it has a vaulted ceiling with skylight, a sitting area, laminate floors, and has an attached bathroom.
This home has an attached single car garage and 2 car off street parking. It has steam radiators, gas heating. It was listed for $749,000 and was sold for $750,000.

Relevance: Higher. Given the larger size, superior condition, 2 full bathrooms 1 being for a master suite, I believe that this home will sell for more than your home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This colonial style home was built in 1933. It is larger than your home with 2,011 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home the same number of bedrooms as your home,both having 4 bedrooms. It has more bathrooms than your home, having 2.5 bathrooms, whereas your home has 1.5 bathrooms based on public records. It sits on a smaller size 0.13 acre lot whereas your home sits on a 0.22 acre lot.
From the foyer, the living room is on the right through an arched opening, and it has a fireplace with mantel and overmantel to the ceiling matching the crown molding. It has hardwood floors as well as the formal dining room which is partially open to the living room through an arched opening. The formal dining room has china cabinet, crown molding, wainscoting, and hardwood floors. The kitchen has white cabinets to the ceiling, double windows, and hardwood floors and has a breakfast nook with chair rails. This level also has a screened porch with triple windows and is accessible from the foyer. The 2nd level includes 3 bedrooms with hardwood floors, an office, and a family bathroom. The master bedroom is on the 3rd level and it has cathedral ceiling with skylights, wall to wall carpeting, and has an attached bathroom with skylight. The family room is on the finished lower level and it has a fireplace and access to the garage.
This home has an attached single car garage and paved 2 car off street parking. It has central heat, steam radiators fueled by gas. It was listed for $799,000 and was sold for $820,000 after competing offers.

Relevance: Higher. Given the larger size of the home, extra bathrooms allowing for a master suite, large bathroom on the second floor albeit with dated wall tiles, I believe that once all factors are considered this home will sell for more than your home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This colonial style home was built in 1926. It is larger than your home with 2,002 sq ft of approx. living area which is all above ground living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home the same number of bedrooms as your home, both having 4 bedrooms. It has the same number of bathrooms as your home, having 1.5 bathrooms. It sits on a similar size 0.19 acre lot on a popular street, whereas your home sits on a 0.22 acre lot.
The living room is quite stunning and has extensive mahogany millwork. It has a fireplace surrounded by mahogany custom built ins with glass paned doors on either sides of the fireplace, and transom windows, crown molding, high wainscoting, hardwood floors, and has access to the sunroom through double french doors. The stairs to the second floor lead from the living room and have all of the detail millwork seen in this room and are impressive. The sunroom has crown molding, double windows, hardwood floors, and has an exterior access through double french doors. The kitchen has overhead cabinets with glass paned doors, crown molding, black appliances, and vinyl flooring. The bedrooms are on the 2nd level and the family bathroom. Two of the bedrooms have wallpaper on the walls. The larger bedroom has walk in closet, crown molding, and wall to wall carpeting.
This home has a detached 2 car garage and paved 4 car off street parking. It has hot water radiators, oil heating. It was listed for $789,000 and is currently under agreement.

Relevance: Higher.  Given the larger size of the home, along with the detailed mahogany millwork extensive in the first floor of the home, superior style (buyers prefer traditional colonial homes), similar location I believe that once all factors are considered the home will sell for more than your home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This is our listing. This colonial style home was built in 1924. It is smaller than your home with 1,436 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home has 1 less bedroom than your home, having 3 bedrooms, whereas your home has 4 bedrooms. It has the same number of bathrooms as your home, having 1.5 bathrooms. It sits on a smaller size 0.11 acre lot whereas your home sits on a 0.22 acre lot.
The home has been extensively renovated in the last 2 years. Marcus helped them buy the home and the home needed a huge amount of work when they bought the home. They planned to stay in the home for a good amount of time but ended up needing to move state so we sold the home. The many renovations to the home had only been completed approx 2 weeks prior to us coming on the market so they were 'fresh' renovation.s Upon entry from the farmer’s porch, the living room has a fireplace, crown molding, double windows, hardwood floors, and is partially open to the formal dining room through a cased opening. The formal dining room has recessed china cabinets, wainscoting, crown molding, triple windows, and hardwood floors. The kitchen is new and has a breakfast bar island, granite countertops, ceramic tile backsplash, white cabinetry, overhead cabinets with glass paned doors, stainless steel appliances, double windows, and hardwood floors. It also has access to a new half bathroom with an adjacent mudroom and newly relocated laundry and exterior access to the deck through double french doors. The family bedrooms are on the 2nd level and they all have crown molding, hardwood floors, and share a family bathroom on this level. The family bathroom was large and the sellers ran out of time to renovate the home but took our recommendation of painting the cabinetry and the dated wall tiles which created a lovely fresh look.
This home has a detached single car garage and 2 car off street parking. It has steam radiators fueled by gas heating. It was listed for $699,000 and we had 19 offers on the home and is currently under agreement for $850,000. Of the 19 offers, 13 had no inspection contingency.

Relevance: Higher. Given that the home is smaller than your home but it has been pretty well totally renovated I believe that it will sell for more than  your home.

Your details: Living area 1714 sq ft | 4 beds | 1.5 bath | Built 1950 | 1 car garage | 0.22 acres

This home was bought by one of our buyers. We have their vacant (but staged) condo on the market this weekend. This colonial style home was built in 1929. It is of similar size as your home with 1,751 sq ft of approx. living area. Your home has 1,714 sq ft of approx living area which includes the finished room in the basement. This home has 1 less bedroom than your home, having 3 bedrooms, whereas your home has 4 bedrooms. It has less bathrooms than your home, having 1 full bathroom whereas your home has 1.5 bathrooms. It sits on a smaller size 0.13 acre lot whereas your home sits on a 0.22 acre lot.
The home has been nicely renovated and freshly painted throughout. From the enclosed porch, to the foyer, the living room has a fireplace, crown molding, picture windows, and hardwood floors. It is partially open to the to the sunroom which has picture windows, crown molding, and hardwood floors. The formal dining room has a china cabinet, crown molding, chair rails, and hardwood floors. The kitchen has cherry cabinets, crown molding, ceramic tile backsplash, granite countertops, stainless steel appliances, double windows, chair rails, and hardwood floors. The 2nd level includes 3 bedrooms and a fully renovated family bathroom. The bedrooms have hardwood floors. The larger bedroom has picture windows. The 3rd floor is a large bonus room which has double windows, vaulted ceiling, and hardwood floors.
This home has an attached single car garage and 2 car off street parking. It has steam radiators fueled by gas heating. It was listed for $729,000 and was sold for $860,000 with multiple competing offers.

Relevance: Higher. Given the similar size, superior condition, albeit less half bathroom I believe that once all factors are considered this home will sell for more than your home.

Return to Top

Pricing Recommendation

My analysis of the relevant homes outlined above suggests a final market value for your home of between $700,000 - $750,000.  

Given the current market dynamics in Arlington, I would suggest listing  your home at the lower end of this price range estimated to attract more  interest and potentially multiple offers.  If the market deems your  home to be worth more than the list price, then the price will be pushed  over the market value of your home, and sometimes well over that when  we get multiple offers.  You can see many examples in the above  mentioned properties that came on the market for a lot less and  competition pushed them up to a higher final sale price. The challenge  in estimating a price for a home is ‘would this home have sold for this  price if they had priced it for higher’ or was competition the driving  factor that got to this price.  Experience tells us that competition is  why they sold for what they did, so we have to be careful with pricing.   Examples of this include the home at 1 Walnut Terr which was listed for $629,000 and sold for $670,000, the home at 94 Robbins which was listed for $699,000 and sold for $750,000 and our listing at 175 Highland Ave which was listed for $699,000 and after 19 offers on the home we will be selling it for $850,000.

When homes are  overpriced they end up sitting on the market and ultimately selling for  less than market value, whereas homes priced realistically can often  sell for well over market value. Competition is what will get us the  highest sales price. As we see time and time again, if the buyers  consider the market value of your home to be realistic in relation to  the asking price, then competition will push the price up higher and  often over the market value of the home. The challenge with overpricing  is that the buyers are very educated – they go week after week to see  homes in their price range so they KNOW what the prices are and what  ‘feels’ right.

I have to stress that these are  recommendations.  We would bring  your home on the market at whatever price you deem to be appropriate.  

When  determining the right price - it all depends on your motivation and  your risk tolerance level. We know that homes that are priced at the  'strike price' will sell quicker and may generate more than one offer.   I’m an excellent negotiator and know how to push a price up if we have  the market activity. I also know that some sellers want to put their  home on for a higher price than I might recommend, which I’m willing to  do, so long as it is understood that putting the home on for more than  the majority of buyers perceive its value, could mean that your home  will have a much longer market time and sell for less than it should  have had it been priced properly out of the gate.

I DO NOT  DETERMINE THE PRICE - the market dictates the value - what a buyer is  willing to pay. My job is to make sure that you have the best market  exposure and that your home is positioned well in the market.   I do not  believe in projecting more money than I think your home will sell for  just to get your business.

My team and I know how to stage and  market your home, and I understand its value, but I can only sell it for  what the market or a buyer will pay. I strongly believe that a home  should be priced compared to the current competition, not just on what  has sold in the last six months.  At the end of the day, you will be  competing for the buyers looking for a home like yours and in the same  price range. You can do far more 'damage' to the resultant price we get  for your home if we overprice. The prospective serious buyers will see  your home within the first weekend of your home coming on the market,  and they will have seen everything else in this price range.  In other  words, the serious buyer knows what is priced well.  If they don't see  value in your home at its listing price and are not motivated to make an  offer, then they will move on and keep looking.  In times of increasing  prices, it is often hard to predict what a home will sell for, but be  assured that even if we price your home lower than what market value is  currently, market dynamics will bring the price of the home up to where  it should be.  Prospective buyers should walk in thinking the price  'feels right' and are motivated to make an offer in the short term,  rather than letting several months’ pass.

It is important to  stress the value of marketing your home to capture the highest price.   In times of low inventory, we know your home will sell by doing the  bare minimum to market it, BUT that is not going to get you the maximum  price for your home.  Key to getting the maximum price for your home is  to prepare a comprehensive marketing plan that incorporates all avenues  available to us to expose your home to the maximum number of buyers out  there looking.  Exposure, and feet in the door, is what will get you the  highest price for your home. Basic ratios help explain this.  If 10% of  the buyers who walk in your door fall in love with your home, then if  you only have 10 buyers walking in, then potentially there is only 1  buyer - if you have 100 buyers walking in your door then using the same  ratios, you will potentially have 10 buyers falling in love with your  home.  10 buyers will push the price up versus only one buyer.

 New statistics state that over 100% of potential buyers  search the web as their primary search vehicle.  Thankfully, your home  will show fabulously in photos. With historically low interest rates  likely to increase and inventory at a 7-year low, there are still homes  that do not sell in this market.  I’m making my recommendations to  ensure that you are one of the sellers who will have success in the  first month of being on the market, but optimally the first weekend.


Return to Top

So, what is our Marketing Plan? 

Read More to find out all about the standard marketing we offer, at no additional charge to the standard fee.

Marketing to sell your home

Make your home stand out with MA Properties Online's Marketing Today's technology makes it...

Read More

Who We Are | MA Properties Online | RE/MAX Leading Edge

The MA Properties Online team takes a 'data driven approach' to real estate . ...

Read More

 


 

Testimonials | MA Properties Online | RE/MAX Leading Edge

Read Reviews about MA Properties Online | RE/MAX Leading Edge...

Read More


We look forward to working with you!   Please reach out if you have any questions at all about this market analysis or our plans to market your home! 

Return to Top