Parallel Marketing in Lexington, Kentucky
What is your home worth? How does a homeowner decide how to price their home in this very different market we have today? Parallel marketing is important to know about before you are pricing your home as there are two very distinct markets in play today. There is one market pricing category that is for customers that are doing business as usual. They are simply buying another home for normal reasons. For example, they may be downsizing or upsizing; or just wanting something different. May be they are relocating to another area. The other market pricing is the foreclosure, short sale and distressed sale pricing. These homes generally vary as much as 20-30 percent in the pricing.
They each have different staging needs. Typically the marketing for homes doing business as usual would entail near perfect condition with all rooms as neutral as possible so that the buyer can envision their own furniture and things in the home. A kind of “blank slate” to go on. The condition has to be on the “cutting edge” of the market to compete with the number of homes that are on the market today. The more distressed sales category need the basics. A thorough cleaning, utility transfer to the real estate company for ease of showing, winterizing if in the winter months and in some cases bids for the major repairs to put buyers at ease. If a bank is involved, they will many times allow for painting and other repairs to be done to effect a better price.
It is interesting that buyers seem to fall in to one category or the other. Pricing in the wrong category can mean many more months on the market; or, a much lower sales price than was desired by the seller.
(No Ratings Yet)
Loading ...
