There is a saying in real estate that buyers can pick two of three: Size, Condition, Location.
I’m going to modify it slightly, because price should be in there.
Home Buyers – Pick Two: Price, Condition, Location.
- If a buyer wants a home in fantastic condition and in a great location, then expect to pay a premium.
- If a buyer wants to get a great price, then they can expect to sacrifice on condition and/or location.
- If you don’t care about location, keep driving further out until you can find a great house at a great price.
Getting all three is miracle work – buy a lottery ticket while you’re at it.
Here’s my version for home sellers:
Home Sellers – Pick One: Price, Condition, Convenience.
- Want your price? Then spend big money on a tune-up and vacate the home for max showings.
- Selling the home in its current condition? Hard to say when it will sell, and for how much.
- If you want the proceeds on a certain date, then sell to a flipper or auction the home.
There are many variables but you get the idea. Those who have a specific need can sacrifice in other areas to get the results they want. Typically, you don’t get everything!
