What are the odds of selling your acreage or horse property in Oregon? Well, let's find out!
We have all heard the news, read the papers and heard the general talk at local coffee shops. But how much of that chatter actually pertains to your house, in your market? What is going on in Chicago, Sacramento or Miami has little to do with our Salem, Keizer, Turner, Silverton or Dallas Oregon markets.
Many factors are considered when when calculating your odds of getting your home sold. Over the last several years, local Salem Oregon real estate agents have used the "Absorption Rate" method to show acreage home or horse property owners their odds of selling their property in this or any market.
Data is collected on similar properties that have actually sold within a specific time frame. This calculation is compared with the number of homes not only currently on the market but how many statistically are added to the market every month, since those homes will also become the seller's competition around Salem or other areas of Oregon.
I like to offer my sellers several perspectives so that we are not relying on any one calculation too heavily. For example, knowing that only 30% of properties are sold in a particular area, I want to show sellers that by being priced in the top 30% and being in the top 30% for condition will almost guarantee a sale. Sorting a spreadsheet list by price, and another by acreage size, home size or price per acre can give the seller a very accurate picture of how their property compares to everything else on the market. Why is this so important? Because the buyers are doing the same comparisons. And if you want offers, you have to appeal to the acreage property buyers around Salem Oregon.