Listing Property - Case Study Example

Day Month Year Case 2: Listing Property Choosing area 85206 in Mesa, Arizona as a basis for my search, I found a home 552 South Seton. The home itself is located in a gated community just off a major freeway in the area. This is certainly a selling point, particularly for a family with one or more family members needing to commute. The gated aspect of the community provides a sense of security and familiarity with those nearby. The home itself is two stories, with 3 bedrooms, 2.5 baths, and a family room with a fireplace.

The price of $235,000 certainly seems reasonable, but the next step of this case study will be to compare prices of homes in the nearby vicinity with similar features. Looking in the same area, there is a similar sized home at 3766 East Isabella Avenue for $280,000. The difference in price comes into play due to the presence of a swimming pool, although the actual plot size is a tad bit smaller by nearly 400 square feet. To find a home that is almost identical to the home on Seton, a two-story single family home is available at 4138 East Alder Avenue.

This one does have 4 bedrooms, as opposed to 3 in home on Seton, but the total square footage of the home is nearly the same. This tells a prospective buyer that the rooms are likely smaller in the home on Alder, so smaller families would likely tend to gravitate towards the home on Seton. The Seton home is priced $10,000 more than the one on Alder, but comes with nearly 1,400 more square feet of land, making it by far the better priced home of the two (Realtor.com, para. 2). In addition, the Seton home is a new listing, while the other two mentioned in this case study have been on the market for more than a month and have already seen their listing price decrease.

If this trend continues, the price of the home at 552 South Seton would likely decline in the near future as well. This home is brokered by Property Management Real Estate and does not have a specific listing agent on the record of note. If I were to begin my own marketing process for the home at 552 South Seton, I would begin by listing out the unique features of the home, in comparison to others in the area. This would include a gated community, ready access to the Superstition freeway, large family room with fireplace, and a larger than normal yard given the other homes in the vicinity.

Having done that, I would continue listing out the other features of the home that would appeal to a family. This will give me an idea about the type of buyer that this location mostly likely appeals to. That will probably be a middle class family with no more than one or two children. The schools in the area of well maintained. In addition, the access to the freeway will be appealing to any mother or father who must commute to work. These features, and the target demographic, would form the basis for any marketing material I end up putting together, while not being so specific that it would discount other potential buyers (such as investors or married couples without children) that would possibly be interested in the property as well.

The real estate market of today is quite complex. While we were in a seller’s market for much of the past twenty years, that certainly has shifted to a buyer’s market today (Education Center, para. 3). This is particularly true in the metropolitan Phoenix area, which has seen great difficulty in the used home market for the past five years. As a consequence, it could certainly be beneficial to have a broker assigned the task of marketing and selling home if for no other reason than having a professional that is skilled at navigating the complex nature of the real estate business.

With so many homes on the market in the same price range, it will take a great deal of marketing to get the noticed. (Should You Use A Real Estate Agent, para. 4). On the contrary, hiring a broker is no easy task. They need to have your best interests at heart and truly be committed to selling the home. If this does not occur, one is better of trying to sell it by him or her self. If the seller does have some inherent knowledge of the real estate market, this is quite easy to accomplish, saving potentially thousands of dollar in closing cost and commission fees.

The choice is a tough one, but is one that should be confidently made one way or the other. Then, the aggressive marketing of the home can commence. Works Cited “552 S Seton Mesa, Az 85206” REALTOR.com. N.p., n.d. Web. 25 July 2013. “Education Center.” 10 Things Your Real Estate Broker Will Not Tell You. N.P., n.d. Web. 25 July 2013. “Should You Use a Real Estate Agent?” Should you Use a Real Estate Agent? N.p., n.d. Web. 25 July 2013.