Page 1 - Wig & Associates Lakewood VILLAGE Newsletter ~ March 2020 Issue

WHAT AFFECTS HOME PRICING?

by Jane Whitten

OCATION … FEATURES
… AGE AND CONDITION
L … UPGRADES … NUMBER
OF HOMES ON THE MARKET aka
INVENTORY … TIME OF YEAR, the
list goes on and on!
The Long Beach and Lakewood areas
and surrounding communities have been
suffering from a lack of inventory for the past
few years. 2020 does not seem to be offering
any relief, so that being said … what does
all this mean if you are a homeowner and
thinking about or needing to sell and … how
does this affect a buyer looking to buy a first
home or a move-up home?
The basic laws of Supply and Demand a property’s value; and in my opinion, others but where the rubber meets the road
come into play here. As it is in any business even Zillow’s Zestimates are not completely is when you know an agent’s listing history
ALLISON VAN WIG or marketplace, the availability of what it accurate and may be misleading. So, what regarding the number of homes listed, the

CA DRE #00985700 is that you want to buy, generally dictates can be done to arrive at a realistic and number of days on market, the list price and
the sold price then that is when you can get
reasonable home price?
the price range.
562-882-1581 values there are so many factors to take into sale, homes that have sold in the past 90 days, price a property and get it sold.
Having access to current properties for a glimpse of an agent’s ability to accurately
When it comes to real estate property
WWW.SUPERBROKER.COM consideration that it is almost impossible their features, condition and location plus the Knowing what the area’s absorption
ALLISON@SUPERBROKER.COM to get a generalized “apples to apples” skill and ability to analyze this data is one of rate is can also give you a clue. This is
comparison. Certified RE Appraisers the services offered by most real estate agents. determined by dividing the average number
many times have difficulty determining Some agents have more experience than of sales per month by the total number of
available homes.
Unfortunately, pricing a property does
not take into account personal feelings, pride
of ownership, amount of money spent on
improvements, or the amount of money
you might NEED or WANT at the close of
escrow, it is pure numbers and statistics …
plain and simple.
If you have questions about how all
this might affect you as a seller or a buyer,
Van Wig & Associates is a good place
to start. When you get the answers to
your questions, then you can decide as to
the best way to proceed. Allison’s direct
phone is 562-882-1581, her email is
Allison@SuperBroker.com. n

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Go to: www.LongBeachPrices.com

INSIDE THIS ISSUE - MARCH 2020

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