Seventy percent of Alabamians use a multiple listing service to sell their house. A real estate investment company can help you sell your home fast, so more sellers notice your house listing. According to Realtor.com, the average Birmingham house price was $199,000 and depending on the neighborhood, you can buy a three to four-bedroom, two-bathroom house in Birmingham for that price. Trulia reported the median house price to be $368,000, but Zillow put the price closer to $408,000.
It is important to have accurate list wording and check the square footage for the soon-to-be listed single-family home. Is the square footage correct? Why does it really matter if the square footage is incorrect in a Birmingham AL MLS? The problem is incorrect square footage can affect the size of your old or new house. Is it just a number? The wrong information listed is important for two reasons. The square footage can help provide a competitive market analysis. The numbers help a real estate investment company know how much to price a house in a neighborhood, based on home prices in the area. If the square footage is wrong, the price per square foot will be incorrect. It may mean a potential homeowner has to pay more on their taxes.
A mistake means you may not get an accurate description of what sq. footage you are buying. This error affects the contract. Houses are appraised based on square footage. If the square footage is wrong, it may allow the seller an unfair advantage. First, the house can be listed under a category on the Birmingham MLS that the property does technically meet. For example, an 18,043 sq. foot home is advertised as 21,000 feet. The difference in square footage, of 357 sq. feet, can affect the comparative market analysis.
If the square footage is stated wrong in a multiple listing service, you may not be getting a good deal. If you buy houses as an investment, to rent or flip, a new comparative marketing analysis on the 18,043 sq. foot-home places the house’s value at below the listing price for similar sized homes in the area. Previously, the CMA placed the house’s value above the list price. In this case, you may want to walk away from buying a house in this case and have your earnest money returned.
Second, an investor or homeowner may not be able to rent out the property at a rate that is profitable. For example, the average price per square foot is $106 per sq. foot. This figure is an 8.2 percent increase from last year. Still, an investor or homeowner may not be able to rent out the property for money they wanted per month. If you have a mortgage on the house, it can be difficult to get the amount they need to pay a mortgage payment each month. A rise in the price per square feet indicates people are willing to pay more to find a house in Birmingham AL. If you live in a popular neighborhood, such as Five Points South, Highland Park, Forest Park, Crestwood South or Crestwood North, it may be no problem attracting another buyer quickly, once a Birmingham AL MLS is correctly stated and a potential homebuyer is give back their earnest money.
Do make sure your real estate investment company does these four things in a Birmingham AL MLS
Urge customers to buy – It is a great tactic to use if your house has only been listed on the Birmingham AL MLS for only a few weeks. It plays on a customer’s feelings that they need to act quickly and buy. However, it does not work well if a house has been on the market too long.
Be specific in a Birmingham AL MLS – If a house is a fixer upper, it is important that potential buyers know this. Otherwise, they may feel mislead when they find a house needs substantial repairs, which were not disclosed. Tell sellers what repairs are needed when you know. It may help a house sell go well.
Convenient showing hours – Let potential buyers know they can schedule a showing when it is convenient for them. It is best if you can vacate the property within an hour’s notice of a showing. If you are flexible of when potential house buyers can tour your house for sale, you may be able to sell it faster.
‘Great Potential’ – No one wants to see the word ‘great potential’ in a house listing because it is too vague. It does not give a buyer any information about the repairs that may need to be made on a house.