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Here is What Determines How Quickly a Home Sells

This article comes from http://www.themreport.com/ by Brian Honea that explains what he thinks determines how a home sells quickly.  This is the formula Realtors and sellers want to know to sell real estate. This is something I study daily and try to understand every facet of how a home buyers see thing in Real Estate.

"The study found that properties with features such as “fenced backyard,” “open concept,” “natural light,” and “updated kitchen,” tended to sell quickly while word pairs such as “golf course,” “gourmet kitchen,” “ceramic tile,” and “granite countertop” attached to properties tended to increase the number of days a property stays on the market. The word “fence” appeared frequently among the top word pairs, indicating it is a top priority for buyers; meanwhile, homes listed as “single story” tended to sell more quickly, while “two story” had a tendency to increase the number of days a property stayed on the market."

Every house has a story or something special about it.  No matter what you write you do need to add the descriptions in the above paragraph, buy you can also can tell a story on a home.  For example a home I just listed is on an island like lot.  We added that the home felt like a private resort and you had a 360 degree view. Having that special lot we wanted to help the potential buyers know that the home felt very private.

"“It is not easy to figure out why properties with ‘gourmet kitchen’ stay on the market longer, but one possibility is that this luxury feature would lead to a higher property value,” He said. “Homes that have higher prices relative to their neighbors may have less demand than lower-priced, more affordable homes, and hence it takes a longer time to sell.”"

I think that gourmet kitchens can also be placed in lower-priced neighborhoods.  The kitchen and bathrooms are paramount in selling any home. Having two full bathrooms for example is crucial to selling a property is less days. I always update the kitchens and add gas stove if it already does not have one.  Gourmet kitchens do not have to have Viking appliances in them, they just need to have all the tools to be able to cook any feast that is needed in the house or for entertaining. Updating a kitchen in any home can do that,

Lastly and this story does point this out you need to look at the location of a home and see how much demand there is for that area. I personally look at the schools systems, amenities and how close they are to the property. These are also factors to consider when selling a home. How bad do people really want to live in the area the home is located?

Doing a little updating and making your home like new is a huge factor on the price you get and how fast you will sell your home. Lets face it would you rather have a dated home or updated home?

Get your home sold with our Flat fee Listings Service $1500. We have put our last two deals in escrow in less than 2 weeks and almost full price. Call Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona.    

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