How Much is My Home Worth? You've no doubt heard that the South Coast is benefiting from a "hot" market. There is very little inventory, more buyers than homes from which to choose, and homes are selling quicker and at higher prices than ever before. What does a hot market mean for the luxury homeowner or the seller with a rare and special property? A hot market is good news, but distinctive properties are still in a category separate from the rest of the real estate market. Olde Dartmouth Sotheby's International Realty believes that there are four main variables that determine the selling price of any property:

(1) Most important is the overall general health of the economy and real estate market. (A hot market is the healthiest.)

(2) The location of the property. Waterfront and water view homes command special prices. Homes on prestigious blocks are more desirable than other homes in the same towns. Some communities routinely command higher selling prices than others. Lot size and neighboring abutters also influence the selling price of homes on the market.

(3) Condition of the property. Some buyers cannot even fathom changing the paint color on a wall. A home in poor condition, needing major improvements, will take longer to sell, regardless of price. Buying a home is similar, psychologically, to dating and getting married. Poorly groomed dates will seldom get a second chance regardless of potential.

(4) The owner's choice of Realtor and Brokerage Company. We are not all alike. Some real estate companies, many with years of experience, are not even members of the regional Multiple Listing Service and merely depend on yard signs or word-of-mouth to sell your property. They may occasionally take out an ad in the local newspaper or perhaps spring for a small picture in the regional Real Estate book. In such cases, the exposure of your property to customers outside your marketing area is nil to none. Owners of distinctive properties could wait several years before any suitable buyers are aware of the availability of their property using these outdated methods. We feel that Olde Dartmouth Sotheby's International Realty offers many advantages to sellers of distinctive homes.

How is Olde Dartmouth Sotheby's International Realty Different? Olde Dartmouth Sotheby's International Realty is especially equipped to handle the particular marketing needs of distinctive properties. We are members of the local Southeastern Massachusetts MLS as well as the Boston Property Information Network (PIN) MLS, which services 80 percent of Massachusetts, 100 percent of Rhode Island, and 100 percent of Connecticut MLS participating REALTORS®. Our Web presence is growing and linked to all appropriate search engines. We also advertise our listings on Realtor.com, Yahoo Real Estate, and all of the affiliates of the RealEstateBook.com. Furthermore, we routinely showcase our listings in such national publications as The Wall Street Journal, Boston Magazine, The Dupont Registry of Fine Homes, and many others. Just as importantly, we know how to show distinctive properties. We know what your property's special history or provenance will mean to the new owner. We anticipate the questions, and have ready answers. As our staff is well traveled, professional, and appropriately educated and credentialed, we are able to identify with owners and buyers of distinctive properties. Sellers using our services can expect prompt, courteous, knowledgeable service. Their properties will receive maximum exposure, which should result in a quicker sale at a higher price.

How does price affect selling time? Remember, the seller sets the price (hopefully with the help of a REALTOR®) and the buyer sets the value. As price increases, the pool of buyers shrinks. In a hot market, there are more buyers than usual and fewer properties from which to choose. All things being equal, properties will sell quicker and at a far higher price if the pool of buyers is larger (as is the case with the extensive marketing done by Olde Dartmouth Sotheby's International Realty) and if that larger pool deems the initial price fair and appropriate. Under priced properties will sell, with little effort, to neighbors and others able to hear about the new listing from a yard sign or a phone call from the listing broker. This is what "old school" real estate companies do, at financial peril to their clients.

Our staff at Olde Dartmouth Sotheby's International Realty can draw you a bell curve and show you how long you can expect to wait for an acceptable offer depending on where you set your initial marketing price. The higher you price your property, in the fair range, the longer you will have to wait for an acceptable offer. Properties priced outside the perceived fair range will go unsold regardless of the marketing done. Prices have to be justifiable to buyers and sometimes bank appraisers if financing is needed. At Olde Dartmouth Sotheby's International Realty, we will be glad to help you set a fair marketing price for your special property that meets your timeline.