The Rochester Report

Month: October 2015

You’ve Been Pricing Your Home All Wrong

12

I usually post about peonies, donuts, and cozy coffee shops but I do have a day job and I’d be doing you a disservice if I didn’t share some real estate wisdom with you every once in a blue moon.

Well, I’ve got some news for you… you’ve been pricing your home wrong all along.  But it’s not your fault.

For as long as people have been selling things, $19.99 has looked better than $20.00 right?  This theory may hold true for a new t-shirt but can we agree that a new home is not a comparable purchase?

You’ve seen it happening all around you for ages.  We price our homes just under a threshold number so as to be close to that number but “appear” to be a better value.  You’re missing almost half of the market by pricing your home this way.

Stick with me here.

SEMAR (Southeastern Minnesota Association of Realtors) recently conducted a survey of homes listed on the MLS and compared homes priced with odd numbers, (i.e., $149,900) versus homes priced with even numbers, (i.e., $150,000).

The results are going to make you mad.

Homes listed at even numbers got 24% more search hits and sold 36% faster than homes priced with odd numbers.

Here’s why…

Let’s say you’re putting your home on the market.  You’ve got a great yard, 3 car garage, and 4 bedrooms on one level.  You’d like to get as close to $300,000 as possible but buyers are going to perceive $299,900 as a better value.  So you list at $299,900.  Jane & Jon are searching for a new home.  They don’t want to spend more than $350,000 but they need 4 bedrooms and a large lot so they search for homes between $300,000 & $350,000.  Your house is perfect for them.  But they never found it because they weren’t searching in a price range of $299,900-$349,900.  Stop making it harder for buyers to find you.

Do I need to go on?  Didn’t think so.

Note:  I understand that most agents will give some wiggle room in this search range, (if they’re conducting the search) but buyers researching on their own and sending their agents homes they want to look at is highly typical.  And you cannot ignore these numbers. 

Natural Grocers Opens in Rochester

NATURAL GROCERS OPENS IN ROCHESTER

Rochester. Crochester. Yeah, I said Crotchester. It’s a word. Ask the locals. Sometimes we get used to well, what we’re used to and we forget how cool our surroundings are.

I made an exploratory pit stop at Natural Grocers today because I needed coffee before I had to talk to humans and I wanted to try out a new cold brew.

What I found can only be described as beautiful.

That much caffeine, beautifully packaged and chilled. My heart. I made my choice based on packaging and ingredients. In that order. I was a marketing major so I support this type of decision making process. Same formula for wine if you were wondering.

I didn’t find my favorite Equal Exchange dried apricots but I found out they’re taking requests. Inventory will evolve as Rochester peeps speak up about what they’re searching for. So go chat it up with those friendly folk.

I had some shredded chicken in the crock pot to have for dinner so I grabbed two avocados from their produce section. Then I had to get the F outta there before I bought the entire aisle of almond butter options.

This is the first Natural Grocers store in Minnesota. In all of Minnesota. Good work Rochester. I’m proud of you for supporting healthy options. At sups reasonable prices by the way.

How To Pet Llamas in Rochester

PET LLAMAS IN ROCHESTER

When your morning walks look like this… you spring out of bed, pour a cup of coffee (to go), and head out with the dogs. Truth be told the morning hours are when I feel my best. My soul is louder than my mind at that point and I usually try to get a walk in with the dogs before I start checking emails and that mental situation flips.

Today was special.  I can’t explain it, but even the llamas were extra friendly today. Yeah, llamas. They’re half the fun of our morning walks since we’ve moved. Our route now takes us through rolling hills, falling leaves, and curious llamas. And we love it.

If I hadn’t been juggling two leashes, a (filled) poop bag, a cup of coffee, and my iPhone I could have gotten much closer shots.  You know what, screw it.  I’m going to do a post all about these wierdos.  You just wait.  Oh, and I’m proposing a new town mascot.  The gloriously awkward and wonky llama.

There are actually quite a few properties where you can find them in Rochester.  The farm near us is High Meadow Llamas and you can find their detailed diary of happenings, births, and hilarious names here.  And here’s a list of farms registered with the Midwest Lama Association.