10 Foster Rd, Lexington

Market Analysis for:

Markus and Heidi Rex

Prepared: 3/28/18

I've done a market analysis on your home at 10 Foster Rd in Lexington and have prepared this document to help explain how I've arrived at a price for your home. I perform a market analysis and calculate a price taking into consideration a home’s location, size, configuration, number of bedrooms and baths, lot size and general condition. I also scrutinize the home for issues that, in my experience, will impact the price of a home making it more or less valuable. Then, I look at your current competition - the other homes that buyers in your price range will be viewing, to help determine your price.

Contents

  1. Description of Home
  2. Market Dynamics
  3. Analysis of Relevant Properties
  4. Pricing Recommendation
  5. Marketing

Description of home

Please note that these comments do not relate to marketing, but are included purely to ensure that we have captured the information and reflect the major components of your home.

Your home is split level style home built in 1959 on a 0.36 acre lot.  We will be staging it as 4 bedrooms which includes 2 bedrooms and the master bedroom on the main level bedroom wing and the office/bedroom on the finished lower level, and has 2full and 1 half bathrooms. It has 2453 sq ft of approx living area which includes 420 sq ft in the finished lower level which has access to the attached 2 car garage. It has a new roof, new double paned windows, and electrical upgrade to 200 amps.
Upon entry are stairs with carpet with the option of going up or down.  We are going to have hardwood treads with painted risers on these stairs. Marble look alike porcelain tiles will be installed in the foyer. Going up to the main level, we are going to replace the carpets with vinyl flooring, same as what has been done on the kitchen. The living room is to the right, the kitchen in front, and  the bedroom wing off to the left. The living room has beautiful bay windows, and has a wood burning fireplace with white painted brick chimney wall to the ceiling. It has an open floor plan with the formal dining room which is open to the kitchen, and partially open to the family room. The formal dining room has a picture window, and a china cabinet that will be painted dove white. The kitchen has a peninsula with laminate countertops which will be painted, and ceramic tile backsplash which will also be painted dove white, pale blue Charles kitchen cabinets, white appliances, and a skylight. The family room has  wall to wall carpeting,  high beamed cathedral ceiling, grass wallpaper, a fireplace with stone facade to the ceiling, windows overlooking the conservation land at the back, big picture windows, a wet bar which will have built in shelves below, built in shelving unit, and exterior access to the deck through a  sliding glass door leading to the patio in the backyard.  The bedroom wing includes the family bathroom which has a shower/tub, and a modern vanity that will just need a little bit of touching up by painting the wall tiles and taking the wallpaper off. The wallpaper in the hallways will be taken off and the laminate flooring will extend into the hallway. There are 2 bedrooms on the bedroom wing which have bluish carpet and bluish painted walls. The master bedroom has an attached bathroom which has marble tile floors and marble wall tiles in the shower stall, wallpaper will be taken off, and a beautiful vanity, walk in closet, a cathedral ceiling, triple windows with arched window with beautiful view of the backyard, and it has a couple of sconces which will be replaced making a more modern feel. The lower level includes a door to the garage, mudroom, half bath with a laundry, the utility room, and an office that could be considered as the 4th bedroom and will be fresh & light if the wood veneer walls, and the doors and trim, are painted. The utility room has the oil tank, an almost new high end Buderus system, the new hot water tank, upgraded electrics, and CAT5 system going through the home. The half bathroom in this level has pink walls, doors that would be painted, and an outdated washer/dryer. The home has individually controlled German radiators throughout.
Your home has an attached 2 car garage whose floors will be painted, with exterior access through a half french door. There are 2 storage areas underneath both wings, one is dry and the other is for outdoor things.


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Market Dynamics

We have been experiencing shortages of housing inventory in Lexington over the last 5 years or so. There are always a number of buyers looking to buy in Lexington because of the strong school system, the community dynamics and vibrant downtown. People like the feeling of the downtown area, and want to stop and have a coffee, or have dinner at the many restaurants, or just watch the world go by, chatting with folks who are out and about. The Minuteman bike path and conservation areas close by pull those who desire an outdoor lifestyle while still remaining within commuting distance to Boston.

The Lexington market has seen increasing prices over the last few years given the limited inventory. The demand for homes in Lexington far outweighs the supply and each month a snapshot of available homes for sale shows the declining inventory levels.

Average prices in Lexington are well above average prices obtained in the peak of the market in 2005. Average single family home prices have been increasing steadily since 2009. The real estate market downturn that existed for the last few years is well and truly over and prices are continuing to increase each year.

Sales distribution statistics for single family homes show that the $1M-$1.5M price-range is the most active in Lexington. The next busiest price range in Lexington is the $1.5M - $2M price range. This is an indicator that new construction is having a significant impact on the average single family home prices in Lexington. The number of new construction homes being built in Lexington in 2013 was 55 homes, 70 homes in 2014, 71 homes in 2015, 66 homes in 2016, and 55 in 2017.

Before reviewing the price per sq foot charts it is important to throw in a caveat of using the average as the definitive guide. There is wide variability among agents as to what is included in the living area reported in MLS. In some instances, agents will include a finished component of the basement in the living area and this is acceptable so long as how the living area is calculated is disclosed. Others report the living area reported in public record, which never includes finished areas in the basement, but note in MLS that there is a finished basement. To this end, it is important to review each individual listing to determine the ‘true’ price per sq. ft. of above ground living area, but we also need to factor into this when a home has a finished basement.

Reviewing the price per sq. foot charts for single family homes shows us that the average price per sq. ft. in Lexington around the $1M - $1.5M price range is around $393 per sq. ft. It’s important to note that the maximum price per sq. ft. achieved varies across most price ranges, along with the minimum obtained for each price range.

When the year built in the 1950’s the average price per sq. ft. is $414.

The chart below shows that single family homes in Lexington of similar size to your home in the 2,000 square foot range, have an average price per square foot of $405 but it increases to $481 per sq. ft. when you decrease to the 1,000 square foot range. It is common across municipalities to see an increase in the price per square foot for smaller sized homes, as it reflects the minimum cost of a home in a town irrespective of the property size.

The chart below shows how many months’ supply of inventory there is in a given price range. It uses the assumption that given the same rate of sales over the prior 12 months, and considering current inventory available for sale, how many months it should take to sell the available inventory. This is referred to “Absorption” in the real estate world. 

Any price range where there is more than 7 months’ supply, we consider there to be an oversupply of inventory, also known as a ‘buyer’s market’. Anything between 4 – 6 months is considered a balanced market. Anything less than 3 months’ supply is considered a shortage of inventory on the market at this price range, also known as a ‘sellers’ market’. As can be seen, currently, absorption rates for all homes in the $1M-$1.5M price range is just under 1 months supply showing a severe shortage.

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Analysis of Relevant Properties

The following map shows the  homes that we believe to be of value in determining the price of your  home. Below the map you will find basic information  provided for each home including the price the home was  listed at, and the price the home sold at (if sold), the listing date, Days on market, Bedrooms, Bathrooms, living area size and lot size.  Noted for each home is a classification of Relevance which outlines whether we think the  property is valued Less (L), Relevant/Comparable (R) or Higher (H) than  your home. The notes for each home outlines the similarities and differences between  your home and the one being analyzed.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This dutch gambrel style home was built in 1942.  It is larger than your home with 2,540 sq ft of approx living area which does not include a finished lower level. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level.  This home has the same number of bedrooms as your home, having 4 bedrooms. It also has the same number of bathrooms as your home does, having 2 full and 1 half bathrooms. It sits on a smaller size 0.28 acre lot in the Manor neighborhood whereas your home sits on a 0.36 acre lot with close proximity to Lexington center.
The home has lovely curb appeal. The main level includes the living room which has a fireplace with white mantel. The living room also has crown molding, recessed built ins by the triple window, and hardwood floors. It has access to the family room which has triple windows and hardwood floors. The formal dining room has crown molding, chair rails, a china cabinet, and hardwood floors. The kitchen has hardwood floors, dated appliances, and exterior access to the deck but it is not the 'heart of the home' as is your kitchen. The master bedroom is on the second floor and has an attached bathroom and hardwood floors. On this level are 3 more family bedrooms. The partially finished lower level includes a playroom and has an exterior access to the backyard.
This home is located in the Manor neighborhood. It has an attached 2 car garage and 4 car off street parking, hot water radiator heating, and was sold in "as is" condition. It was listed for $875,000 and was sold as is for $963,000 with competition. It sold for $379 per sq ft.

Relevance: Relevant, but less. Given the inferior condition of the home, inferior location, albeit larger size I believe that once we consider all factors this home is relevant to yours but yours should sell for more.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This garrison colonial style home was built in 1977.  It is larger than your home with 2,560 sq ft of all above ground approx living area. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level.  This home has the same number of bedrooms as your home, having 4 bedrooms. It also has the same number of bathrooms as your home does, having 2 full and 1 half bathrooms. It sits on a same size 0.36 acre lot as your home but in an area further from the town center.
From the foyer, the living room is on the right and it has a bay window, and hardwood floors. The formal dining room has bay window, wainscoting, and hardwood floors. The family room has a fireplace inset into bricks to the beamed ceiling, wainscoting, wall to wall carpeting, and exterior access through sliding glass doors. It is partially open to the kitchen which has vinyl flooring and an informal dining area. The kitchen is quite dated with dark cabinets and white appliances. The second level includes the master bedroom and 3 family bedrooms. The master bedroom has a walk in closet, wall to wall carpeting,and an attached bathroom which has a double sink vanity. The family bedrooms have wall to wall carpeting and share a family bathroom which has a shower stall. They did not get any attention when the home initially came on the market, and replaced all of the vanities and tile in the bathrooms, and then came back on the market ultimately selling over the asking price. This home was sold in “as is”condition. It sold for $385 per sq ft.
This home has an attached 2 car garage and paved 4 car off street parking. It has hot water baseboard and central heating and window AC cooling. It was listed for $935,000 and was sold for $985,000.

Relevance: Relevant, but less. Given the inferior location, inferior condition, albeit larger size I believe this home is relevant to your home but yours will sell for more.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This was our listing. This colonial style home was built in 1985.  It is of similar size as your home with 2,432 sq ft of approx living area which includes 285 sq. ft. in a finished room in the basement. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level. This home has the same number of bedrooms as your home, having 4 bedrooms. It also has the same number of bathrooms as your home does, having 2 full and 1 half bathrooms. It sits on a larger size 0.43 acre lot in a popular location whereas your home sits on a 0.36 acre lot walking distance to the town center.
The foyer and majority of the home was freshly painted inside. The living room has hardwood floors & a wood burning fireplace. A slider from the living room leads to the fully fenced backyard & brick patio. The living room flows into a formal dining area which has hardwood floors & chair rail. The dining room opens into the modern kitchen with granite countertops, stainless steel appliances, maple cabinets, tile backsplash & an informal dining area. A bay window provides lots of natural light. The main level also has the master suite with wall to wall carpets, walk in closet and full bath with  granite counter & tiled shower/tub. Another family bedroom with wall to wall carpets is on this level along with a half bath. Two additional large bedrooms with wall to wall carpets are on the 2nd level and share a bathroom. This family bathroom has shower and tub, and ceramic tile floor, and granite counters.  The lower level has a bonus room with wall to wall carpet that is accessed via an unfinished basement area. This home has an attached 2 car garage with 4 off street parking whereas yours has 4 off street parking. This house is located close to the Arlington Res in a popular neighborhood with access to the Minuteman bike path and public transportation. It had ‘owned’ solar panels which really appealed to buyers.
This home has an attached 2 car garage and paved 4 car off street parking, and has forced air, heat pump, humidifier, active solar heating and central air cooling. It was listed for $899,000 with lots of offers and we sold it for $1,060,000 or $436 per sq ft.

Relevance: Relevant but higher. Given the similar size, superior condition, owned solar panels I believe that this home is relevant to your home but it will sell for more.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This colonial style home was built in 1997.  It is larger than your home with 2,528 sq ft of all above ground approx living area. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level.  This home has the same number of bedrooms as your home, having 4 bedrooms. It also has the same number of bathrooms as your home does, having 2 full and 1 half bathrooms. It sits on a larger size 0.40 acre lot on a busy street whereas your home sits on a 0.36 acre lot walking distance to the town center.
The home has lovely curb appeal. The living room has a fireplace with white mantel, bay window, crown molding, and hardwood floors. The formal dining room has bay window, wainscoting, crown molding, and hardwood floors. The family room has crown molding, hardwood floors, and exterior access through sliding glass doors. The kitchen has a breakfast bar peninsula, quartz countertops, ceramic tile backsplash, cherry cabinets, stainless steel appliances, hardwood floors, and an informal dining area which has skylights, and exterior access through sliding glass doors. The second level includes the master bedroom and 3 family bedrooms. The master bedroom has wall to wall carpeting, and an attached bathroom. The family bedrooms have wall to wall carpeting and share a family bathroom. Both bathrooms have granite topped vanities and are modern.
This home has an attached 2 car garage and paved 2 car off street parking, and has hot water baseboard heating and central air cooling. It was listed for $899,000 and was sold for $1,060,000. It sold for $419 per sq ft.

Relevance: Relevant, but higher.  Given the larger size and it all above ground living area, superior condition, inferior location I believe that once all factors are considered this home is relevant to your home but it will sell for more.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This colonial style home was built in 1930.  It is of similar size as your home with 2,465 sq ft of approx living area including a finished 3rd level and lower level. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level. This home has the same number of bedrooms as your home, both having 4 bedrooms. It has 1 more full bathroom than your home, having 3 full and 1 half bathrooms. It sits on a smaller size 0.18 acre lot in Follen Hill whereas your home sits on a 0.36 acre lot walking distance to the town center.
From the classic entry hall with detail millwork you enter the main living area and the living room is accessible through double french doors. The living room has a fireplace with brick facade, natural wood colored mantel, high wainscoting, custom built in and seat, semi circle window, triple windows, beamed ceiling, crown molding, hardwood floors, and exterior access to the backyard. The formal dining room is accessible from the living room through french doors and it has chair rails, crown molding, triple windows,  built in recessed shelf, china cabinet, and hardwood floors and it is open to the sunroom through a cased opening. The kitchen has cherry cabinets, granite countertops, granite tile backsplash, ceramic tile floors, chair rails, stainless steel appliances, and exterior access to the deck in the informal dining area. The upper level includes 2 bedrooms, a family bathroom, and the master suite. One of the 2 bedrooms has built ins, crown molding, and hardwood floors. The master bedroom has crown molding, hardwood floors and an attached bathroom which has a shower stall with frameless glass door. Another level has an office/bedroom which has hardwood floors, a walk in closet and an adjacent full bathroom. The finished lower level has a fireplace on brick wall, crown molding, and hardwood floors. All of the bathrooms are nicely renovated with granite topped vanities, ceramic tile floors and walls, and modern fixtures.
This home has an attached 2 car garage and paved 5 car off street parking, and has baseboard heating and central air cooling. It was listed  and sold for $1,075,000. It sold for $436 per sq ft.

Relevance: Higher.  Given the superior condition of the home, similar location, albeit smaller lot size I believe this home will sell for more than your home.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This multi level style home was built in 1959 the same year as yours. It is larger than your home with 2,980 sq ft of living area on both levels. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level. This home has the same number of bedrooms as your home, both having 4 bedrooms. It has more bathrooms than your home, having 3 full bathrooms. It sits on a larger size 0.54 acre lot in a popular area whereas your home sits on a 0.36 acre lot walking distance to the town center.
The main level of this home is up a few steps from the front door with an open floor plan with the living room on the right, the dining room, and the family room. It has an almost identical layout on the main floor as does your home. The living room has a fireplace with marble tiles, and lots of windows. The dining room and the family room both have a cathedral ceiling and exposed beams with exterior access to the deck through 2 very large glass sliders. The family room has a fireplace and large windows. The dining room has a huge china cabinet with glass doors. The kitchen has ceramic floor tiles, mismatched appliances, older cabinets, access to the dining room through a pass-through, and is large enough to accommodate an informal dining area. The master suite has a full bathroom with ceramic floor and wall tiles. 2 more bedrooms are also on this level along with a family bathroom. A large bedroom is on the lower level with a wall of windows and glass doors out to the yard. The playroom has a fireplace with brick mantel. All of the bathrooms are fairly basic. It sold for $369 per sq ft.
This home has an attached 2 car garage and paved 4 car off street parking, and has central heating and central air cooling. It was listed for $998,000 and was sold for $1,100,000 after competing offers.

Relevance: Relevant, but higher. Given the larger size of this home, similar condition, larger lot, extra bathroom I believe that once all factors are considered it is relevant to your home but it should sell for more.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This colonial style home was built in 1974.  It is larger than your home with 2,690 sq ft of all above ground approx living area. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level. This home has the same number of bedrooms as your home, both having 4 bedrooms. It also has the same number of bathrooms as your home, having 2 full and 1 half bathrooms. It sits on a larger size 0.69 acre lot opposite conservation land whereas your home sits on a 0.36 acre lot walking distance to the town center.
Upon entry to the foyer, the living room is on the left and the formal dining room is on the right. The living room has a fireplace with brick facade, picture windows, and hardwood floors. The formal dining room has a china cabinet, picture windows, chair rails, and hardwood floors. The family room also has a fireplace inset into bricks to the ceiling, beamed ceiling, crown moldings, wainscoting, hardwood floors, and has exterior access to the screened porch. The kitchen has rustic cherry cabinets, white appliances, chair rails, and vinyl floors. An office is also on this level and it has built ins, and hardwood floors. The family bedrooms, including the master bedroom, are on the upper level. These bedrooms have hardwood floors and walk in closet, and one of the bedrooms has an attached bonus room. The master bedroom has a cedar closet , an attached bathroom, and hardwood floors. All of the bathrooms are fairly basic. It sold for $420 per sq ft.
This home has an attached 2 car garage and 4 car off street parking, and has hot water baseboard heating fueled by a Buderus boiler. It was listed for $1,079,000 and was sold for $1,130,000, higher than the listing price.

Relevance: Higher. Given the much larger above ground living area, similar condition, preferred style of this home, larger lot size I believe this home will sell for more than your home.

Your details: Living area 2453 sq ft (includes 420 sq ft of finished lower level) | 4 beds | 2.5 baths | Lot size 0.36 acres | Built 1959 |  2 car garage

This multi-level style home was built in 1959 the same year as your home.  It is larger than your home with 2,784 sq ft of approx living area including the finished lower level. Your home has 2,453 sq ft of approx  living area which includes 420 sq ft in the finished lower level. This home has the same number of bedrooms as your home, both having 4 bedrooms. It also has the same number of bathrooms as your home, having 2 full and 1 half bathrooms.  It sits on a larger size 0.59 acre lot in a very popular area of Loring Hill whereas your home sits on a 0.36 acre lot walking distance to the town center.
The main level includes the living room with a bay window, a fireplace with white mantel and brick facing, and with built ins on each sides. It is partially open to the formal dining room through a cased opening. The formal dining room has wainscoting, picture window and an exterior access to the patio through sliding French doors. The kitchen has custom built cherry cabinets to the ceiling, breakfast bar peninsula, ceramic tile floors, mismatched appliances, granite counters and a brick wall in the informal dining area which is the back part of the fireplace in the living room. The family room is on the lower level which has a fireplace with brick facade, vinyl floors, and wood panelled walls. An office is also on this level. The master bedroom is on the upper level with 3 more family bedrooms. The master bedroom has a walk in closet, chair rails, hardwood floors, and an attached bathroom with a corian counter vanity and a shower stall. The family bathroom is a little dated. There is also a den and access to the attached 2 car garage.
This home is located in the Loring Hill neighborhood. It has an attached 2 car garage and paved 6 car off street parking, and has forced air heating and central air cooling. It was listed for $1,150,000 and was sold at $1,225,000, it had competing offers on it and sold for over the asking price. It sold for $440 per sq ft.

Relevance: Higher. Given the larger size, superior condition, similar location, larger lot size I believe that once all factors are considered this home will sell for more than your home.

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Pricing Recommendation

My analysis of the relevant homes outlined above suggests a final market value for your home of $1,000,000 - $1,050,000.  This equates to a price per sq ft of $408 - $428.

Given the current market dynamics in Lexington, I would suggest  listing your home at the lower end of this price range to attract more  interest and potentially multiple offers.  If the market deems your home  to be worth more than the list price, then the price will be pushed  over the market value of your home, and sometimes well over when we get  multiple offers. You can see many examples above that came on the market  for a lot less, and competition pushed them up to the price they sold  for. The challenge in estimating a price for a home is ‘would this home  have sold for this price if they had priced it higher?’ or was  competition the driving factor that got to this price.  Experience tells  me that competition is why they sold for what they did, so we have to  be careful with pricing. All of the homes being used in this market analysis had competing offers on them and sold for over their asking price.

When homes are  overpriced they end up sitting on the market and ultimately selling for  less than market value, whereas homes priced realistically can often  sell for well over market value. Competition is what will get us the  highest sales price. As we see time and time again, if the buyers  consider the market value of your home to be realistic in relation to  the asking price, then competition will push the price up higher and  often over the market value of the home. The challenge with overpricing  is that the buyers are very educated – they go week after week to see  homes in their price range so they KNOW what the prices are and what  ‘feels’ right.

I have to stress that these are recommendations. We would bring your home on the market at whatever price you deem to be appropriate.  

When determining the right price - it all depends on your motivation and your risk tolerance level. We know that homes that are priced at the 'strike price' will sell quicker and may generate more than one offer.  I’m an excellent negotiator and know how to push a price up if we have the market activity. I also know that some sellers want to put their home on for a higher price than I might recommend, which I’m willing to do, so long as it is understood that putting the home on for more than the majority of buyers perceive its value, could mean that your home will have a much longer market time and sell for less than it should have had it been priced properly out of the gate.

I DO NOT DETERMINE THE PRICE - the market dictates the value - what a buyer is willing to pay. My job is to make sure that you have the best market exposure and that your home is positioned well in the market.   I do not believe in projecting more money than I think your home will sell for just to get your business.

My team and I know how to stage and market your home, and I understand its value, but I can only sell it for what the market or a buyer will pay. I strongly believe that a home should be priced compared to the current competition, not just on what has sold in the last six months.  At the end of the day, you will be competing for the buyers looking for a home like yours and in the same price range. You can do far more 'damage' to the resultant price we get for your home if we overprice. The prospective serious buyers will see your home within the first weekend of your home coming on the market, and they will have seen everything else in this price range.  In other words, the serious buyer knows what is priced well.  If they don't see value in your home at its listing price and are not motivated to make an offer, then they will move on and keep looking.  In times of increasing prices, it is often hard to predict what a home will sell for, but be assured that even if we price your home lower than what market value is currently, market dynamics will bring the price of the home up to where it should be.  Prospective buyers should walk in thinking the price 'feels right' and are motivated to make an offer in the short term, rather than letting several months’ pass.

It is important to stress the value of marketing your home to capture the highest price.  In times of low inventory, we know your home will sell by doing the bare minimum to market it, BUT that is not going to get you the maximum price for your home.  Key to getting the maximum price for your home is to prepare a comprehensive marketing plan that incorporates all avenues available to us to expose your home to the maximum number of buyers out there looking.  Exposure, and feet in the door, is what will get you the highest price for your home. Basic ratios help explain this.  If 10% of the buyers who walk in your door fall in love with your home, then if you only have 10 buyers walking in, then potentially there is only 1 buyer - if you have 100 buyers walking in your door then using the same ratios, you will potentially have 10 buyers falling in love with your home.  10 buyers will push the price up versus only one buyer.

 New statistics state that over 100% of potential buyers search the web as their primary search vehicle.  Thankfully, your home will show fabulously in photos. With historically low interest rates likely to increase and inventory at a 7-year low, there are still homes that do not sell in this market.  I’m making my recommendations to ensure that you are one of the sellers who will have success in the first month of being on the market, but optimally the first weekend.

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