Keys To Setting The Price Of A Home For Sale

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Price is one of the main factors when it comes to putting a home for sale . It is important not to get disoriented when setting the amount “as it will always be much easier to sell a property in the first three months than to” burn it “for not hitting the starting price”, explains Jesús Duque, vice president of Alfa Inmobiliaria . Thus, the experts of the company, which operates through more than 100 franchised agencies in Spain, and 108 more offices internationally, give some keys to adjust the price of the house when it comes to listing .

Consulting all the internet portals objectively comparing the property to be sold with other similar ones is one of the keys pointed out by the experts at Alfa Inmobiliaria. In this case, it is necessary to take into account that the starting price is seen, “not the price at which the houses are finally sold. Surely it will have to be lowered between 5% and 15%”, they point out.

Another factor is analyzing the profile of the home buyer . Experts indicate that in the case of selling the house in a middle or lower class area, “we will have to assume that this has been the one who has suffered the most from the crisis and it may be necessary to negotiate the price more. On the contrary, if our The property is well located, and in areas with little supply, we are one of the lucky ones that we can already ask for 10% more than twelve months ago “.

If the house has to be adapted, the buyer could request a reduction similar to the investment
It is necessary to assess the condition of the home . In the case of having to carry out actions to adapt the house, the potential buyer could request a reduction similar to the investment to be made.

Prices at different rates
The real estate sector shows signs of recovery. However, depending on the different cities, even the neighborhoods, the price shows different rhythms. From Alfa Inmobiliaria they consider that the homes that will see their prices increase will be, mainly, those located in Madrid, Valencia and Malaga , where prices have been rising for twelve months, as Duque says.

Also in regions where the economic improvement, together with the shortage of supply, sustain the price of homes : mainly in the Basque Country, the northern Cantabrian, and some areas of Castilla y León. “Barcelona, ​​however, is the only large market that currently has more homes for sale than precisely a year ago,” says the Alfa Inmobiliaria expert.

And where will they continue to fall? This will occur in regions where the reverse conditions exist. This is where the economic reactivation is being softer, as may be the case of Ceuta, León, Córdoba, Jaén or Cáceres. The offer continues to be high and the demand is low , so Alfa Inmobiliaria considers that the owners will have to continue adjusting prices.

Even at a short distance, depending on the neighborhood, the price of housing also shows different behavior . The areas that have undergone a comprehensive rehabilitation of infrastructures, buildings or construction of prime housing , or the most attractive for investment funds, such as Paseo de la Castellana in Madrid or Paseo de Gracia or Diagonal in Barcelona, ​​have helped to recover prices.

The firm indicates that, simultaneously, in the same cities we find more popular neighborhoods that have suffered more from the crisis, with large pockets of very disparate homes , in which current buildings coexist with others in poor condition or lacking elevator or garage. “In these areas,” says Duque, “there is no choice but to go for a drastic price reduction if we need to sell the property.”

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