Property Listing Trivia: 5 Real Estate Caveats

Sometimes when you look at real estate listings, you need to read the fine print twice to see what you're really getting. And sometimes when you sell a property, advice from a real estate professional could come in handy. Here are five pieces of real estate trivia, each with a little lesson attached for both buyers and sellers.

Not What They Mean by a Pocket Listing

You've probably heard a real estate agent say more than once, "This place is a real steal!" A woman in Whitehorse, YT, Canada, didn't expect that to be how people would describe the tiny cabin she built for herself, however. The cabin was dismantled and stolen before she could move it to its final location.

Thefts of ultra small homes do happen. Make sure if you own one it's locked up and nailed down so no one can make off with it. And if the price of a toy cottage seems a little too good to be true, make sure it didn't literally fall off the back of truck.

But Wait, There's More

Sometimes people throw in little extras when they're selling a home. A Phoenix homeowner was probably reaching by adding free Superbowl tickets with the purchase of a modest ranch house to drive up the price. And the homeowner in Sweden who was touting the skeleton in the basement didn't help his case either.

If you're going to offer buyers amenities in hopes of selling your property, here are some better suggestions:

  • washer/dryer
  • furniture
  • storefront or professional office
  • beach rights
  • gardening services
  • guest cottage
  • boat and dock space
  • country club membership

New York City Really Is a Bargain

If you live in the United States, New York City is considered one of the priciest markets in the country. But compared to worldwide real estate prices, New York is a bargain, relatively speaking. Monaco, Hong Kong, London, Singapore, and Geneva all top New York in luxury square footage costs.

The comparatively low cost of New York makes it a target for foreign investors to swoop in and buy up expensive properties. Lesson: know your markets, so you can also make a profit. While selling in New York will get you less in one of the above mentioned cities, you could parlay a sale into far more square footage in, say, Cape Town, Istanbul, or even Tokyo.

You'll Want to Buy Another Property in an Hour

Have you ever yearned to buy property along the Thames? How about next to the Eiffel Tower? Now you could have either... sort of. It appears that the rage in China lately is building exact replicas of famous landmarks or even whole village neighborhoods.

Real luxury real estate, like river property or resort listings, can't usually be had for a song. Find a real estate agent that specializes in the kind of unique property you're looking for, and develop a relationship so when the right thing comes along, you'll be at the top of their contact list.

A Thousand Words Better Left Unspoken

It's common knowledge these days that real estate listings that include photographs attract far more readers that can convert to actual customers. But you need to make sure those pictures are actually promoting your property rather than making people want to shield their eyes.

Use a professional photographer to take your images, and make sure all rooms are well staged and clutter free. And that includes getting rid of any odd taxidermy, dirty laundry, and yes, human bodies from the scene. Whether you're buying or selling a property, consider hiring a real estate agent from an agency like Gilbert Realty.