Ever thought the reason your property isn’t being sold is due to the fact that your price is too high and not in line with the current market related value? With the increase in petrol and the vat rate causing the cost of living to be much higher, it is beneficial to ensure that you price your property accordingly. It is best to consider some expert advice when determining the price of your property, the fact is that in this market overpriced properties may just cause the prospective buyer to find their new home elsewhere.
There are many factors which buyers consider when looking for their new home, the biggest one is price and affordability. Due to the current market there are many options available to choose from, especially since consumers have become quite market savvy with free information available to them 24/7.
It is not unusual for sellers to price their property higher than the market value, leaving room for negotiation to follow. However at this point it is a buyers market and overpriced properties will stay in the market for a long time forcing the seller to drop their price more than once which could affect the true value of the property in the buyers eyes.
It is highly beneficial to have a comparative market analysis done by an experienced Esate Agent in the area. At Etchells and Young our agents always do a comparative market analysis before determining the correct market price for your property. For more info on our sale services or to list your property with us, go to http://www.etchellsandyoung.co.za/estate-agents-in-johannesburg.
Most buyers are looking for good value for money and a good investment even if they are buying to live. According to recent data from bond originator BetterBond, more than three-quarters (78%) of the bonds granted in the past 12 months have been for less than R1,5m. The market segment under R1m is driven to a large extent by first time buyers – young professionals, young families and couples.
According to stats provided by Private Property, Ferndale has become quite a popular suburb to buy in. With nice-sized properties along wide, tree-lined streets. 51% of the properties for sale in Ferndale are under R1 Million. Be sure to have a look at our #neighbourhoodofthemonth featuring the up and coming suburb of Ferndale. We’d love to show you around.