March 26, 2000
By Kay Wilson-Bolton
President, Ventura County Coastal Assn of REALTORS®
Here’s a simple quiz. If you were buying a home today, would you buy the first home you see? Would you buy a home if your banker told you it was priced above fair market value? Would you purchase a home with a leaky roof, obsolete appliances, and a defective heating system without a price concession? If you answered “No!” to all of the above, you are in the mainstream of home buying wisdom.
But, what if you are selling your home? The same rules apply. Buyers look at more than one home and they compare prices. Overpriced homes that do not reflect fair market value are often left on the market for extended periods. Buyers bargain for price concessions when they see a home in need of repairs.
So what’s the message here for property owners? It’s simple. Offer your home in mint condition, at or just below fair market value, and buyers will compete to own it. In this market it is possible that you will have multiple offers if your home is priced at or below market and you will be in a position to obtain an optimum price.
Ventura County continues to see a fast selling market where homes are gobbled up by a frantic buyers pool, but fair prices are determined through fee appraisals or market analysis and comparisons.
The new buyer who compares before making the purchase sets the value. Let your home be the standard by which all other homes are measured—then start packing.
Ventura County Coastal Association of REALTORS® Multiple Listing Service provides the data REALTORS® need to give you good information to establish your price.
When buying or selling your next home, choose a REALTOR® . There is a difference and you can benefit. For more information, contact Bob Seitz, CEO, Ventura County Coastal Assn of REALTORS® at 981.2100. Our website is http://www.vc-realtors.com