7/15/2007

Does Your Avocado Oven Scream "Fixer"?

According to this article it does. But I think it all depends on who you are (and the condition of the oven). If you're a retro person, the 1950's, 1960's, and 1970's may look like fun to you, or you may not care what year it was all made as long as it runs.

But to take into consideration all the things that go into pricing your property, "No Magic Formula" makes its point very well. Just as one oven doesn't predict a price, neither do other factors without considering the overall picture of size, number of bedrooms and bathrooms, amenities, condition, the current market trends, and location, location, location. Price may change 10% or more depending on whether or not the owner has an ocean or water view, or if the property borders a commercial area. It also depends on perceptions about an area or property, or whether or not the upgrades match area expectations. If every other house has an upgraded kitchen and bathroom, and yours does not, that will probably affect the selling price of your home unless you have other compensating factors that would be desirable to your buyer. That means you're waiting for just the right buyer and your house would probably sell faster if you had the upgrades that most of the other homes have in your area.

For buyers who worry about paying more than a home is worth (and there is no real estate cycle where this is not a fear), I could not agree more with the concluding quote of this article:
"Buy a home because you like it, you want to live there, and you're OK if the market goes up, and you're OK if the market goes down."

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