Boston Pads, a Massachusetts-based information and technologies services provider primarily delivering solutions to the real estate industry, gives copious tips in buying, renting, and managing properties. Whether a person is interested in selling a home, renting out a space, or finding tenants as a landlord, there are a number of factors that determine a property’s value. Since its founding, the Boston-based service has learned how to deliver value by helping landlords gain access to data and information that assists to maximize monies of the properties they own.
An arbitrary dollar sign on a “For Sale” or “For Rent” posting does not mean anything unless the home is purchased or rented. When it comes to pricing a home, for example, sellers have to be aware of a number of different factors and influences that affect the final listing value. For starters, Boston Pads says housing markets are largely local and differ based on a region. Near metropolitan areas, for instance, houses are typically more expensive (though in-city salaries are usually higher) because of demand. A property’s demand is everything.
Sellers are encouraged to enlist the help of real estate professionals like those found on the Boston Pads website to adequately price their properties. Usually, realtors will look at nearby homes that are similar in style and size and then investigate previous price trends. If one person bought an identical home for $950,000 last year, however, that does not mean another home will sell for the same amount. There are a lot of factors at play when it comes to the listing and sales price. Typically, the sales price is 5 percent less than the listing price. This is good for buyers, bad for sellers. With proper realtor backing, though, sellers can increase the value of their homes. Read more