What’s My Price?

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

This chart sums everything up for easy comparison.  The link below each property image will take you to a full photo album of all the property photos

	1446 Cleveland	1451 Cleveland	1331 Spazier	1342 Cleveland
Link to Photo Set	1446 Cleveland Photos	1451 Cleveland Photos	1331 Spazier Photos	1342 Cleveland Photos
Status	Subject Home	In Escrow	Sold	Sold
Price		$595,000	$670,000	$695,000
Bedrooms	3	2	3	4
Baths	2	1.5	2.5	3
Square Foot	1941	1482	1800	2051
Lot	9420	7860	8200	6550
Features	Pool, family room, master suite, Covered patio and grassy yard	Permitted bonus room off garage, fruit trees	Architectural details, large grassy yard	Pool
Condition	Remodeled baths, updated kitchen, AC	Some updates, but largely original condition.	Complete restoration and remodel. AC	Complete remodel for profit. AC
Location	Just below Kenneth Rd.	Across the street from subject	Several blocks away, slightly less desirable location	One block down from subject
Pluses and minuses	Fabulous curb appeal, fabulous backyard with pool	Needs remodeling. Bonus room is very nice.	Condition is superior, backyard is very plain	Extra bedroom and bath, condition is superior, pool takes up the entire yard

The Subject Property

1446 Cleveland 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.