The Three Most Important Things in Real Estate Are: Price! Price! Price!

People have traditionally thought that the three most important things in real estate are: Location - Location - Location. Location is important in determining price, however, since the location of a particular home cannot be moved, the location becomes a function of price. If a home is located next to a freeway, gas station, high tension power lines or in a neighborhood with a number of foreclosed and bank owned homes, it will still sell provided the price is low enough. Potential Buyers may not be looking for a home in one of those less desirable locations and still buy because of the low price. The same principle works for condition of the home. A home in disrepair will still sell if priced low enough. Buyers often think “it’s not really what we want, however, at that low price we’ll buy it”. DFW area market is stable compare with most parts of US but there are areas with declining market such as McKinney and Frisco. Sellers who need to sell must price their home at a price which will attract Buyers or be prepared for waiting until the market improves while Buyers still have a limited time to take advantage of an abundant selection of low priced top quality homes in located in desirable areas.