I hope you all are having a god blessed day/week/year and striving to make Jesus a huge part of your life. In Jesus everything is possible. Even finding Carmen Sandiego.
I going to show my age here but as a child I grew up watching a TV show called, Where in the world is Carmen Sandiego? As real estate enthusiasts, we can relate to this show and the question very much. The show was a kid’s game show teaching about geography. The main part of the show is how well a contestant knows areas in the world. Some of these kids on the game show were amazing at geography and probably better than I will ever be in my lifetime. If we are going to be honest, only a small percentage of people are extremely knowledgeable in geography.
In Real Estate the geography that a property is located is just as important as the condition, age and size of the home. In most cases I would argue it is more important. You see the more people know about an area the more likely they are to want to live there. Of course, you may have a property that is out in the middle of no where that someone wants to pay a million dollars for. Although this is true, its typically only that one person or very few people that are willing or wanting to buy that property.
A house is only worth what someone will pay for it. A house in a small town or very rural area tends to have less people interested in living there. This doesn’t go for all small towns or rural areas, as some are highly sought after. But let’s think logically about this. A real estate mentor and one of my favorite people to listen to, Brent Daniels, often highlights that only 7% of the United States Land mass is used for residential purposes. 79% of those people live in the Urban areas with 21% living in rural areas.
As you can see location is a major impact on how much you can get for your property, how quickly you can sell your property, how many people will be interested in your property and how much your property will increase or decrease in value. So, when you’re trying to sell your property that you no longer want and you’re setting expectations on what you think its worth, keep this in mind. What is your properties condition, size, age, how quickly do you want to sell and Where in the world is Carmen Sandiego?
-Fair House Purchase talk
God Bless