Pricing properties has become much harder
Sales prices in a typical tract neighborhood usually look like a typical bell curve. There are a couple of really nice homes, a couple of real dogs and many homes mostly in the middle price range.
But this real estate market has not been typical and prices, more now than ever have been all over the map. So much so the typical profile are Two Humps. The cheap then a chasm of little activity then the nice homes.
Homes with no redeaming qualites get blown out at bargain basement prices, while homes that have emotional pull and of real quality sell for fair market value.
This has created a much larger spread in pricing. And it has created a more uncertain out come for sellers. But what is true is that home preparation becomes all the much more valuable.
Since buyers have not been motivated to act, the only thing that has created this urge, is a home that creates emotional attachment. If the home has no pizazz, then the price has to carry this heavy burden, of creating excitement, which doesn't create a good bottom line for the homeower.
When the market was hot, fixer uppers didn't get discounted that heavily because there was little supply, now they are discounted heavily.
But this real estate market has not been typical and prices, more now than ever have been all over the map. So much so the typical profile are Two Humps. The cheap then a chasm of little activity then the nice homes.
Homes with no redeaming qualites get blown out at bargain basement prices, while homes that have emotional pull and of real quality sell for fair market value.
This has created a much larger spread in pricing. And it has created a more uncertain out come for sellers. But what is true is that home preparation becomes all the much more valuable.
Since buyers have not been motivated to act, the only thing that has created this urge, is a home that creates emotional attachment. If the home has no pizazz, then the price has to carry this heavy burden, of creating excitement, which doesn't create a good bottom line for the homeower.
When the market was hot, fixer uppers didn't get discounted that heavily because there was little supply, now they are discounted heavily.


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