Price is Right in St George Real Estate Market

photo 2¬†How do you know the Price is Right in St George Real Estate Market? Pricing a home for sale is really not as easy as it may seem, especially in the St George real estate market. It may surprise some people to learn that pricing a home is not an exact science. There is also something to be said about a buyer buying on emotion and chemistry when they find a home they like. In my opinion people select homes on how they feel when they are in the neighborhood, and ultimately in the house they choose. A lot of time buyers in the St George real estate market will say, “this house just feels right”. I have heard this described as the Goldilocks syndrome. Some houses are too big, some are too small, and some are just right.

Emotions and St George Real Estate

Buying a house is an emotional event. The difference between an investor and a person looking to buy a home is the emotional component. When an investor is researching a new rental, typically if the numbers work, they will buy the house. When a home owner in the St George real estate market is looking for a home to live in, emotions are definitely a factor. This goes back to the house must be in the right location, and feel right. Smart home buyers can remove themselves from the emotional side, and select 2 or 3 homes to choose from. If all 3 are acceptable, they will more than likely get a better price on the home they choose than selecting only one and working to get it . This is because they would be happy in any of their choices. By using this strategy they can almost pit sellers against each other to see who will give them the best deal. When a person gets emotionally attached to one house, they will more than likely do what, and pay whatever it takes to secure the house.

The Price is Right

Back to my opening concept. If pricing a home were an exact science there would never be any disputes about what a persons house should sell for, or what a person should pay for a house. Unfortunately it is not an exact science, it is more of an art. Of course there are a lot of factors that become part of the comparative price analysis that helps establish a selling price. These factors are not new, they include, location, condition, age, and amenities. By amenities I don’t mean what is offered in the HOA, but things like granite counter tops, stainless appliance, and hard wood floors to mention a few. These are the variables. It would be easy if there were a standard pricing calculation that included price per square foot and age of the home, but there are quite a few more pieces of the puzzle. As I mentioned earlier, condition is a huge factor. Again there is not an exact figure that can be attached to condition. Condition of homes in the St George real estate area, and every market are subject to interpretation. What is nice to some people, may be unacceptable to another person. And therein lies the problem. One agent may think that a property is nice, and another agent may think it is terrible. That is when we have to use discretion. It is also interesting to note that if a person were to ask three different agents what a home would sell for, they would probably get three different answers. They would probably be close, but more than likely different. People may not realize that ERA offers a program where we will buy their home if we can not sell it?

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