What would you pay for a home in Rossmoor?
Would you pay $800,000? $900,000 or $1,000,000?
WHY?If all 3 homes were similar in size, say within 100 sq. ft. of one anotherAND all 3 homes were all original inside and out…would you pay the exact same price for each? We as agents see homes come up for sale in Rossmoor all the time and we are often asked why one home would sell for more than another home. Most of the time we can explain the differences due toLOCATION, CONDITION and PRICE. Why would Location, Condition and Price matter, they are all in Rossmoor right? They are all part of the Los Alamitos Unified School District, they are all within 90720, they are all within 100 sq. ft. of one another, so why would there be a price difference? HERE IS WHY… Just being in “Rossmoor” does give your home value. There always have been and continue to be buyers, who solely want “Rossmoor.” However, just buying in “Rossmoor” alone does not guarantee you top dollar. Here are the things that differentiate the homes, thus adding and subtracting value in different ways…
- LOCATION – The old saying “Location! Location! Location!” is true! It always has been true! People are willing to pay more money for the best locations! Take a concert for example. If you want to be up close and right in front with the “best location,” okay great… it will cost you… money. The same thing goes for houses in any desirable neighborhood. The exact same house that backs up to a busy street will not sell for the same amount as a home in the center of the neighborhood. Just as a home backed up to the freeway will not sell for the same as a home a few streets in and off of the freeway. Location really does matter.
- CONDITION – If the home is in such a deplorable condition that it really truly can only be sold to an investor who will basically tear it down, then the SOLD price will reflect that. If the home is in “okay, not that great, but still livable” condition, the SOLD price will reflect that too. If the home is outstanding, beautiful, all remodeled and “move in ready” condition of course that too will show in the final sales price.
- PRICE – How does price come in to play? Why would the list price affect the sales price? The LIST price is the “opening price” that the seller’s little hearts desire and are sometimes firmly set on! However, if you over price your home when it is first LISTED you can find yourself chasing the market…down. Of course, just the opposite, if you “under price” your home, you can find yourself in the middle of a bidding war! Is one better than the other…? The market always answers this question as YES.