Day: January 23, 2012

The Effect of Proper Pricing

Newton, MA.  homes for sale…Newton, MA. Realtors

Yesterday my colleague Sally Bortz and I conducted an open house in the heart of Newton Centre.  The house is a solid brick colonial with 3 bedrooms on the second floor plus one on the 3rd floor.  The kitchen is small and probably last renovated in the 60’s.  The baths all need updating along with the removal of some old knob and tube wiring.  So what was so special about this house that we had over 150 groups of people many who had to wait in line to get in the house?   The price—it wasn’t priced as a give away it was priced correctly.  The house is in a neighborhood that is highly desirable and the price point created a perception of value.  The word is buyers are looking to steal houses when in reality they are truly looking for value.

As of 9AM this morning there were 11 offers that will be reviewed with the seller in an hour or so.  Her decision will be based upon price and terms, not just price.  Price is an important part of every transaction, would you choose a buyer with 10% down or  40% down?  Are you going to have faith in the buyer looking at every fault the house has or the buyer who sees the fault and says I can update them?

View our website and call Sally Bortz and Margaret Szerlip to represent you in your next real estate transaction.