Buying And Selling A Home:
Four Real Estate Marketing Tips
Real Estate Marketing Tip #1.
Think about selling when you are buying. There is an old saying in real estate marketing: "when buying and selling a home... always begin with the end in mind." This is true because, eventually, every home gets resold. So, before buying a home, it is important to consider its likely value, if you to try and resell the property either now or in the future. What seems like a bargain when you buy, might become a nightmare when you come to sell. Right now you may be able to live with something adverse for the price, but when it's time to sell you might find buyers won't. Selling a home in a buoyant real estate market is relatively easy regardless of its location or condition. But, buying and selling a home in a tight real estate market, is a whole different ball game. Buyers become more selective.
Real Estate Marketing Tip #2.
Know what is a poor location. Another saying in real estate marketing is: "buy the worst house in the best street, not the best house in the worst street." This is very true if you want your property to increase in value over time. Remember: Location, location, location. You can change everything about a house except it's location. Buying and selling a home in a bad location can be fraught with problems when you come to resell. A less desirable location usually results in a lower selling price.
Here are some examples of locations that can affect resale:
- Under an airport flight path
- In a rundown block or neighborhood
- Located on a main feeder street
- Center of night life activities
- Next to a school yard playground
- In or near a gang territory
- Next to apartments or commercial/industrial properties
- Close to a freeway, expressway or railroad
- Near a gas station, power pylons, municipal garbage or toxic waste dump
- Near factories, farms and processing plants (odors can be a problem)
- Below the road, damp, shady, cold properties
- In a town or city affected by the closing of a major employer
Real Estate Marketing Tip #3.
Know what increases the value of a property. The value of a home is based upon recent sales of the similar neighboring homes in the market as well as rentals and listing data. Ideally, appraisers want to compare sales of properties of the same size, age, condition, room count, in the same area and with similar amenities. Finding a perfect comparison rarely happens, so adjustments have to be made, based on what the market will pay a higher price for. Additional features and benefits can increase the value of a particular property. Things like: extra square footage, if its well maintained inside and out, bedroom number, heating system, air conditioning, parking facilities, decor, swimming pool, views, sun, access, lot size, location and so on.
But, when buying and selling a home, what happens outside the property boundary can also dramatically influence its value. Homes appraise for more and real estate marketing is lot easier when properties meet these criteria:
- Located in a good school district
- Additions comply with the proper building permits
- Additions conform with and suit the existing home style
- Not over improved or the largest house on the block
- Neighboring properties are well maintained
- Style of the house fits with those in the neighborhood
- Zoning changes are not expected
Real Estate Marketing Tip #4.
Know which areas will give you the best capital growth. The key to buying a home that will increase in value is choosing the right location. As an example; the outer more remote areas which are likely to experience the greatest capital growth are those that have fast rail and road access to the city, shops, schools, hospitals and recreational facilities. In more affordable neighborhoods, capital growth is generally more likely when buying a home close to facilities, services and areas of employment. Above all, when buying and selling a home, remember that real estate marketing is demand driven! More Real Estate Marketing Tips! When buying a home with an addition: Always verify that it was built with a permit prior to closing the sale. Get copies of the permits before final sign off. Never accept the sellers' word for it. If you want to refinance or sell at a later date, the property appraiser will need to verify the addition being permitted.A failure to get verification could mean: no new loan or worse still. . . no sale.
When selling a home with an addition - The Golden Rule Is:
When adding onto your house - always obtain a building permit. When the time comes to sell or refinance, the frustrations of the building permit process will be worth it. Always save copies of the final permit sign offs and keep with your house papers.
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