Price effects so much of how and what we spend our money on. Advertisers bank on our purchasing what they advertise and at what price the items are offered. “Buy one get one free,” “two for one,” and a gift card bonus if you purchase two or three items in the same category are popular marketing techniques to draw you in to the store or online and make those sales. Depending on what the items are and the need involved, you as the consumer can determine the urgency of ownership and the amount you are willing to pay for any particular item. When a new product comes on the market, so many are willing to buy regardless of the price as the need or want of ownership far exceeds a better deal at a later date. Great lengths are taken on the part of the manufacturer, the advertiser, as well as market share consensus to determine the correct price at which to offer an item for sale. As new things come available, the older models often take a back seat and in order to continue to sell them while the new ones are out, the prices are slashed and reduced in an effort to offer incentives to buy. In real estate price is determined by supply and demand, and the value at which a buyer is willing to pay for a particular property. Sometimes the price doesn’t even seem to make sense but there is such a demand that the price rises above the normal parameters. Foreclosures and short sales made real estate purchases seem like good deals as the original sales prices were often slashed greatly as sellers walked away from mortgages they could no longer afford to pay. Banks took back the properties and many were able to purchase real estate way below the market price. The process is long and arduous and is never a sure thing. Most are best off going the more conventional route and sticking with available properties that are readily transferrable. Still a good deal is a good deal, and for those willing to wait, and stick out the time and bumps in the road, many a great opportunity has been had. But, when a new property comes on the market, and the price is calculated correctly, buyers and sellers usually agree pretty quickly. With a good agent, comps are done correctly, and market analysis is evaluated along with assessing the value of the home itself. A price is set to make a good first impression because as we all know first impressions are just that…first and cannot be first again. They can be adjusted as time goes on if the need arises based on the market and the seller. In the meantime, call us for your real estate purchases or sales, and trust we will guide you with professional experience and knowledge so the price will be right for you.