NEWSDAY THURSDAY MAY 9, 2013

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HARARE: (04) 773930-8; Email: classifieds@newsday.co.zw; 1 Kwame Nkrumah Ave, 3rd Block, 1st Floor BULAWAYO: (09)-883184-8, Email: nngwenya@newsday.co.zw; 3rd Floor, West Wing, Forestry Commission Building, 71a Fife St/L. Takawira

Pricing a property for sale

THE aspect of pricing a property is the most fundamental in the selling process, for it largely determines the time the property is going to be on the market. It goes without overstating that the seller and agent benet most when a property is purchased at a higher value than it is worth, but realistically speaking, it is ultimately the buyers who determine the value of the properties on the market. This becomes the main reason why the crux of a property sale is its price because the seller wants to benet as much as they can from the sale while the buyer will most certainly want to pay the least amount possible for the highest return in value. It is always prudent to start by getting an independent valuation from an agent who will not be involved in the sale. The reason I state this is that the agent is not motivated to overprice, in the hope of being awarded with the mandate to sell. When a seller hears that their property might fetch more than they anticipated, there is naturally a feeling of excitement and an inclination to assume that the agent will achieve that

The seller and agent benet most when a property is purchased at a higher value than it is worth, but realistically speaking, it is ultimately the buyers who determine the value of the properties on the market price without considering extrogenious factors like prevailing market trends and the liquidity crunch. So in reality, how can one have a general idea of how much the property will fetch on the open market? A sure start will be a thorough assessment of similar property prices within the same catchment and their duration on the open market. Why I mention the duration of the property on the market will help one assess if that particular property is overpriced and reasons behind the overpricing. It will be foolhardy to follow hot on the heels of one who has overpriced, because the result will only yield two very unsaleable properties on the market. There is a natural bias that overwhelms the seller of a property in relation to the To page 26

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NEWSDAY THURSDAY MAY 9, 2013

ND PROPERTY

Pricing a property for sale

FROM PAGE 25 true value of the property they intend to sell. Unless the sale of the property is encouraged by the buyer, sentimental value cannot be converted to monetary value whatsoever, the fact that one married and bore all their children on the property that is intended for sale does not add an extra $30 000 to the sell price. When it comes to determining the actual value of the property, an unattached third party objective assessment should be made, that is why I always encourage a professional and categorically state that friends do not qualify as a third party valuators. The price of a property is inversely related to the demand on the market and it is demand not time that actually sells properties. If one increases the price the demand lowers and if one lowers the price, the demand increases. It is important to realise that properties are normally not bought on whim; most buyers assess the options available way before they view the property through advertisements or other media. The price of the property is also inversely related to the interest that will be created in the person of the potential buyer. If the property is overpriced, chances are the potential buyer will just ignore the property and the seller looses at the rst hurdle. If the potential buyer does view the property, at the back of their mind they will be comparing with other properties they would

have seen previously that where either priced higher or lower. To those sellers who are normally unyielding to reason and intrinsically believe that their properties are worth far more than they are, there is a chance that some agents will use that particular property as prone to sell their other similar properties that are rightly priced. This is highly detrimental to the seller. Firstly, the property will end up becoming stale on the market raising suspicions of possible problems with the property. Secondly that it also drives the seller on the desperate side forcing them to end up agreeing to a price that would not have been conceivable had the property been rightly priced from the beginning. It is wise to remember that a realistic price will certainly assure one of a sell in the shortest possible time. The property is not intended to eliminate all the nancial problems that one may face; however, it can certainly reduce them up to its value. Article provided by Wisdom Properties. They can be contacted on 0772 403687 email: info@wisdompropertieszw.com

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NEWSDAY THURSDAY MAY 9, 2013

Since 1958

65 CENTRAL AVENUE BETWEEN 6TH AND 7TH STREETS HARARE Tel: (263-4) 252357, 252957-9 E: robertroot@robertroot.co.zw

PROPERTY CONSULTANTS

DEEPLY ROOTED IN ZIMBABWE

68 RIDGEWAY NORTH BORROWDALE, HARARE Tel: (263-4) 852747/8, 853258/59/60 E: salesoffice@robertroot.co.zw

WWW.ROBERTROOT.COM
MALCOLM ROAD, BORROWDALE
MIMOSA GARDENS, SHORTHEATH RD

BEDFORD GARDENS AVONDALE RIDGE

COLLINS AVENUE, COLNE VALLEY

EXE ROAD, VANIONA $680K (NEG)

$680K Neg. $635K

A stunning, thatched home comprises 4 beds, 3 baths, modern kitchen, d/room, lounge, veranda and beautiful garden, pool and prolific borehole. Property in a Company name. Contact Angie on 0773 227 319

$450K New Cluster units, 4 beds, 2 mes, 1 bath, kitchen, tv lounge and open plan lounge/dining room. Secure and immaculate. Please contact Shireen on 0772284898

$330K Immaculate cluster house, 3 beds, 2 baths, lounge/d/room, fitted kitchen, 2 LUG. Enclosed veranda overlooking chip tile pool and entertainment gazebo with bar. Please contact Jodi on 0778 457 769

$435K 4 beds, 2 baths, lounge, d/room, stunning kitchen, separate 1 bedroom cottage with open plan quaint kitchen, s/pool, 3 boreholes, excellent security on 2.5 acres. Please contact Jodi on 0778 457 769 Immaculately presented, very secure, beautiful family home with 4beds, 3baths, 2 bed cottage, 2lounges, entertainment room, modern kitchen, d/room, s/pool, borehole and excellent security. Contact Angie on 0773 227 319

EASTLEA ICE CREAMS $160K (neg)

HODSON ROAD, ALEX PARK

HELVETIA DRIVE, BORROWDALE

EASTLEA

EMERALD HILL

$140K $210K

$160K Neg. Ideal corner shop facing Samora Machel at the Eastlea shopping centre. The property is offered on a walk in walk out basis. Property in a Company Name. Contact Angie on 0773227319
Family home, 4 beds

$300K

$320K The property is on 1 acre with a house comprising 2 lounges, dining, 3 beds (mes) fam bathroom, Kitchen (not fitted) Plus 1 bed flatlet. Pool, borehole. Please contact Lily on 0712 631 541

21/2 baths pool, borehole, plus guest cottage. Good security. Phone Suzie 0772 340 956

Newly painted starter home. Comprising 3 bedrooms, lounge, dining room, small bathroom, separate guest toilet. Dated kitchen, scullery area. 2500 litre water tank, single staff accommodation. Property walled on three sides, with sliding gate. Contact Samantha: 0778 915 482/ Marda 0772 241 473

A pretty house with 3 beds, mes, family bath, study, bar, lounge, dining, kitchen, pool, double lock-up garage, single domestic quarters, 5 000l water tank, walled with electric gate and electric fence. Contact Shumi: 0772 311 269

AVONDALE WEST - $100K NEG

HARARE DRIVE, NORTHWOOD

GREENDALE - $240K

MALCOLM ROAD, BORROWDALE

KURRICHANE WAY, MANDARA

$100K

$180K

$240K

Simplex garden flat, 2 beds, 2 baths (mes), lounge cum dining. Fitted kitchen, verandah. Brick driveway, walled with sliding gate. Single staff quarters. Complex fully walled and gated. Share Transfer. Contact Hetel: 0772 377 688

Compact 2 beds 2 baths, pool, borehole. On 1secured acre. Phone Suzie 0772340956

Solid 4 beds, 2 baths (mes) family home, sunken lounge with fireplace, sep bar area and office. Updated kitchen, pool, borehole, fully walled with electric gate, double lockgarages, double shade ports. Contact Samantha: 0778 915 482/ Marda 0772 241 473

$635K
A stunning, thatched home comprises 4 beds, 3 baths, modern kitchen, d/room, lounge, veranda and beautiful garden, pool and prolific borehole. Property in a Company name. Contact Angie on 0773 227 319

US$370K Double storey family home 4 beds, 3 bath, 2 lounges, kitchen, bar and gazebo set on 1 acre. Excellent security and borehole. Contact Shireen on 0772284898

GREENDALE - $250K

MOUNT PLEASANT

COLNE VALLEY

GREENDALE NORTH

GREENDALE

$300K $210K

$635K
Neat and solid 4 bed home, mes with dressing area, 2 baths, guest toilet, separate dining and sunken lounge, modern fitted kitchen with scullery and walk in pantry, laundry room. Self -contained 2 bed cottage. Pool, tennis court, prolific borehole, very well maintained garden. Walled, electric gate. Contact Yolanda: 0772 345 537

$180K
Lovely and solid family home, 4 beds, 2 ensuite, family bath, 2 lounges with fireplaces, sep dining, fitted kitchen, breakfast area, enclosed verandah, self-contained one bed flatlet, SLUG, swimming pool, borehole, 20 000l water tanks, triple staff quarters, fully walled, gated, electric fence. Contact Elsie: 0774 816 731

$300K

A solid family home comprising spacious main lounge, bar, dining room, door leading onto nice undercover patio, fitted kitchen, scullery, 3 beds on ground floor, 1 ensuite, sep family bath and toilet, 4th en suite bedroom upstairs with dressing area, pool, fully walled, manual gate, borehole (but not connected). Several domestic rooms. Double lock up garage Contact Maria: 0772 204 488

Unusual split level home comprising 2 lounges, raised dining area, neat kitchen. 4 beds, 2 baths (mes), on 2 acres. Fully walled with electric gate and electric fence. Fully self contained 2 bed cottage with lock-up garage. Pool, triple staff quarters and lots more. Need to view to appreciate. Contact Samantha: 0778 915 482/ Marda 0772 241 473

BLUFFHILL

Solid double storey family home comprising, large lounge with sun lounge. Dining room, large updated kitchen with laundry and scullery. Gas and electric stove. Family bathroom, 1 large bedroom with en suite bathroom. Upstairs: two bedrooms. Entrance hall from double lock garages, Office area. Huge 4th bedroom, with dressing room and ensuite bathroom. Double lock up garages, 2 water tanks, double staff accommodation. Swimming pool, with thatched gazebo. Brick driveway, borehole. Property fully walled with electric gate Contact Samantha: 0778 915 482/ Marda 0772 241 473

$90K
Good starter family home, 3 beds, family bath, lounge, sep dining, fitted kitchen, SLUG, walled on 2 sides, good water. Contact Anjali: 0778 850 515