Here’s a new real estate riddle:

In any St. Cloud house sale, what is the least expensive element that can also be the costliest?

There are many possible answers to the first part of the riddle. If the roof is openly deteriorating, the St. Cloud house’s sale will usually depend on attending to that—a 5-figure expense in many instances. If the kitchen appliances are failing, they might need replacing. If the curb appeal is significantly lower than the neighborhood average, it might mean an expensive exterior paint update or correcting the long-neglected landscape.

There can be any number of costly elements that could be a part of a St. Cloud home’s sale—but that fails to satisfy the riddle’s second half: that of being the least expensive. The answer seems to be a contradiction (as many a riddle’s answer is, after all).

The answer to the riddle is peculiarly appropriate for St. Cloud house sales because the size of the “element” is so great—that is, the amount of money at stake is huge.

The answer is the asking price.

When a homeowner decides to sell, she or he puts the property into terrific shape, which, depending on its condition, can be quite costly—or virtually free—but it can’t be both at the same time. On the other hand, deciding on an asking price costs nothing. It is entirely at the discretion of the owner, generally in consultation with their agent. And because this initial value goes out to the world as a benchmark that will be attached to the property for good or ill, its import is great. No matter how many times it might be adjusted, that first number will be there in black-and-white for all time.

If it is unsupported on the high side, the property will attract scant interest. If it is disproportionately low, it runs the risk of giving away thousands of dollars that buyers would have been willing to pay. Either way, the element that was free to establish could become the most expensive element in the sale.

When based on a combination of comparable neighborhood properties and its own distinctive features, a good asking price:

·         sets a serious tone for negotiations,

·         accurately signals the seller’s expectations, and

·         speeds a successful sale.

Avoiding the possibility of misreading the market is only part of the service I offer my selling clients. Call anytime to discuss the many others!

Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:

Multiple Office Locations To Serve YOU!

Saint Cloud 320-259-4554

Princeton 320-983-3555

Sartell 320-259-4554

Little Falls 320-259-4554

Minneapolis 763-565-2000

Hutchinson 320-455-9127

Litchfield 320-298-1140

Premier Real Estate specializes in MANY areas around Central MN including Saint Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, Saint Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, Saint Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center, Brainerd, Nisswa, Aitkin, Albany, Coon Rapids, Sauk Rapids and more!