Let’s play a game!
Show of hands, who thinks pricing a home is easy? Who thinks it is only something a professional should do? Who thinks Realtors manipulate price for their own selfish gain? It’s ok to raise your hand, no one is looking.
In this Set the Price game, I am going to put YOU in the driver’s seat. I’ll give you the facts on a home that I am putting on the market and the comparables that I used to analyze price.
I want you to consider all the facts and take the survey – what price do you think this home will sell for?
The Chart
The Subject Property
1446 Cleveland (Click on the address for a full photo album) is a stunning English Tudor home located just below Kenneth Rd. It is filled with architectural detail and has a true Master Suite, Family Room and large yard with pool. This home is a short sale and likely to sell for less than a “normal” sale.
The Comparables
1451 Cleveland is just across the street. This largely original condition home has been well maintained and is light and bright. There is a nice, permitted, bonus room off the garage.This home is in escrow, list price is $595,000 and the sales price could be that or it could be less.
1331 Spazier is chosen because it is similar in size and architectural detail. It is sold at $670,000. This home is restored and remodeled and has a lovely, though plain, backyard, no pool. The neighborhood is slightly less desirable.
1342 Cleveland is one block below our subject home. It was a foreclosed home that had a complete make over by investors and sold for profit. It sold for $695,000. It was highly remodeled but lacks a family room and the pool takes up the entire yard.
Survey Says!
So here’s the fun part. Choose the price range that you think reflects the eventual sales price. Remember, the subject home is a short sale, so don’t forget to factor that into your price.
Kendyl Young blogs daily at www.KendylsOpenHouse.com. and she covers local real estate trends, hot properties and community happenings in Glendale, La Canada and La Crescenta. You call or text her at 818-396-7588 or email kendyl@kendylyoung.com. Amusing tweets; @kendyl