Homes For Sale in Pearl River County –

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When you’re ready to find a great deal in the Picayune and Pearl River County Mississippi area, call Michelle Fradella at Pinnacle Real Estate Services at 601-569-0075.

Imagine you want to buy a gallon of milk. You eye the dairy case, shelves stocked with dozens of choices, but they are really all the same. Milk is milk, and which one you select is really insignificant because they are all identical, and they are all priced the same.

But what if each identical offering was priced differently? Odds are you have set aside ample time for your shopping trip, and you will carefully check the price labels and go for the best deal. Or maybe you are drawn to the more attractive packaging.

When selling your home, attractive pricing and packaging are arguably the two most basic essentials. In our current real estate market, the buyers have a lot of choices. In many areas, the shelves are simply overstocked. And since no two homes are the same, making that distinction between your home and the dozens of others is key.

Where pricing is concerned, establishing that all important asking price is part science and part art, and there are several things you should consider.

• Study past sales. This is the starting point for any thoughtful and successful pricing strategy; think of it as the “science” part. Take the time to study past sale statistics for homes in your area and areas similar to yours. None will be identical, of course, but having a clear understanding of true market value is the first step in establishing your list price.
• Do not confuse active listings with past sales. Active listings have not sold. They are just your competition. It is important to be aware of your competition’s pricing, but this is often just an indication of what your home won’t sell for.
• Do not overprice because you have “time.” If the market is appreciating, this strategy may work, but if prices in your area are declining, you may quickly find yourself chasing a market and costing yourself money. And if the market is stable? Your home will just sit. Buyers pay in today’s dollars, and time is rarely on your side.
• Leave some room for negotiation, but don’t overreach. No seller wants to feel he left money on the table, and no buyer wants to overpay. Your price should give both parties room to maneuver, but if it is too high, you risk being perceived as unrealistic, and buyers will pass over your home.
• Think like a buyer. What are the things that you value in a home? Is it a large yard, an updated kitchen or a view? These are likely the same things that your buyer values as well. Talk to your agent about current buyer trends. Yesterday’s avocado green shag carpeting is today’s granite countertop. The property facing the interstate is going to be a tougher sell than the one with a mountain view. Your price should reflect how your home compares to the others offered for sale. Buyers will find objections to any home, as none is perfect, but it is curious how quickly objections disappear when the price is compelling.
• React swiftly and decisively. If your home is on the market and is not being shown or if you receive feedback that you are priced too aggressively, don’t hesitate to adjust your price. Bad news, like spoiled milk, doesn’t get better with time.

First impressions are everything when selling your home. Studies have shown that the first two weeks on the market are the most crucial to your success. During these initial days, your home will be exposed to all active buyers. If your price is perceived as too high, you will quickly lose this initial audience and find yourself relying only on the trickle of new buyers entering the market each day. Markets are dynamic, and your price has an expiration date. You have one chance to grab attention. Make sure your pricing helps you stand out on the shelf — in a positive way.

Kris Berg is designated broker with San Diego Castles Realty in San Diego, Calif. Visit her Web site atwww.SanDiegoCastles.com and read her blog at www.SanDiegoHomeBlog.com.

North Hill has always been a desirable neighborhood, and I think the average Days on Market reflects that, with the average being 31 days (over the past year). Pricing is always a key factor in determining the length of time a property sits on the market, and these houses have demonstrated that if the property is priced right, it will sell. These homes sold an average of 96% of listing price.

For a 2443 sq ft house (heated and cooled), the value is currently at $290,717. This is great news for our community, because we have continued to appreciate in value over the past year.

If you have any questions about today’s market, or the figures from above, please call Michelle Fradella at Pinnacle Real Estate Services – 601-799-1848 or 601-569-0075.

BUT . . . let’s put this all into perspective. How is OUR MARKET today? The national media has grouped all areas of our fine Country into one big database, allowing the overinflated numbers of the decline in value that California and Florida have experienced, to set the stage. But what if we focused on just our neck of the woods? The North Hill Subdivision, in Carriere, MS, is a well established neighborhood, which continues to thrive, even in today’s market.

Let’s turn back the clock, and look at the market we were experiencing before Hurricane Katrina blew in and altered our world. During the year 2005, from January 1st to August 15th (and I use August 15th because Katrina hit on August 29th), the average price per square foot for a home in the North Hill community was $92.13. This is the calculated price of the heated and cooled area of the home, based on the sales that took place during that time frame.

Now let’s look at the numbers for what has been deemed the “worst real estate market in over 50 years”. Currently (based on sales from January 1st to today, 2009), the average price per square foot is $104.40 (based on sales of homes with 2200-2500 sq ft living area). This is almost a 13% increase in value over the 2005 figures.

I feel it’s important to look at these numbers, removing the over-inflated numbers that Hurricane Katrina caused in our area because of the demand for homes for those that lost their properties in the New Orleans and Gulf Coast regions. Most people’s perceptions are that the property values in our area have tumbled. When looking at what property values were in 2005, and what they are today, we can see that we continue to appreciate at a normal rate.

If you would like to know more information about the value of your home, please call me, Michelle Fradella, at Pinnacle Real Estate Services – 601-799-1848 – for a FREE Comparative Market Analysis.