JANUARY 2021 | WHAT’S IN THIS ISSUE?
» Do’s and don’ts for pricing your home
» 6 most popular house styles in America
» 3 mid-winter house chores Do’s and don’ts for pricing your home
Finding the right asking price is tricky. You want to get top dollar but go too high and an appraiser may ultimately disagree with you on value — regardless of a buyer’s interest. Fortunately, there are some sound strategies you can turn to. Below are three do’s and don’ts for pricing your home.
- Do pull comparable listings. You can’t rely on rumor, free online estimates or what your next-door neighbor’s house sold for last year. You need to look at sold, similar homes (number of bedrooms, bathrooms, square footage, amenities, etc.), in your neighborhood, ideally within a half-mile radius. The sale should also have been within the last six months, though it’s even better if it took place in the last three months.
- Don’t ignore market conditions. Pricing always depends on the market. If there is a lot of stock and homes are selling slowly then you may want to consider offers that are a bit lower than what comparable properties have sold for. Conversely, in a seller’s market, think about adding 5% to 10% to the last comparable sale. Odds are good you’ll get that little bit extra, especially if buyers are dealing with low inventory and long searches.
- Do think about the number. Consider psychology in your pricing. For example, studies show that people prefer products priced at $19.99 over those priced at $20.00, even though there’s no real difference in cost. In a competitive market, listing at $249,999 may give your home an edge in the minds of buyers.
6 most popular house styles in America
America has always been home to a diverse range of house designs. To make sense of the variety, we’ve summarized six of the most popular styles.
Cape Cod: This style dates to the early colonists in Massachusetts and regained popularity in the 1950s. The homes are usually 1 and 1/2 stories, with strong symmetry and a central front entrance.
Colonial Revival: This style also originated with English colonists. These homes tend to be symmetrical with brick exteriors, dormer windows and at least 2 stories.
Rowhouse: Also called townhomes, rowhouses are built with shared walls between them. They’re common in populous cities, both in America and in parts of Europe.
Craftsman: The Arts and Crafts movement of the early 20th century led to Craftsman style houses. These homes include luxe interior details like stained glass, built-in cabinetry and wooden archways.
Ranch: Ranch homes are usually one-story structures with front-facing garages. They have open floorplans, with easy access to the outdoors.
Contemporary: Many new homes are built in this style. Their floorplans emphasize a flow between interior and exterior design, with an emphasis on sustainability or energy savings. 3 mid-winter house chores
- Look for leaks. Fill your sinks then check for drips from the pipes underneath.
- Trim back plants. Brush is easier to clear before it thaws and starts growing again.
- Test smoke and CO detectors. Fires and CO buildup are more common in winter.