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Marketing & Selling a Home with a “Diamond-Water Paradox” Mentality

The “Diamond-Water Paradox” is a basic, fundamental economic theory: Water is essential to life; diamonds aren’t, but because there is so much water available, consumers place much greater value on a diamond to a drop of water.

The same paradox can be applied to selling a home.diamond-home-marketability

When potential home buyers view homes these days they’re looking for that diamond (or, a “diamond in the ruff” to be exact).  And, just like diamonds with their detailed system of clarity (FL, VSI, SI, I, etc.), a home’s marketability may be characterized by three important details: Price (P)/Condition (C)/Location (L).

  • Above average landscaping & curb appeal (+C)
  • Kitchens and bathrooms that have been remodeled with the latest and greatest (+C)
  • Freshly painted rooms in neutral tones (+C)
  • A home that is clean and spotless (+C)
  • A home situated right next to a factory (-L)
  • Orange shag carpeting (-C)
  • A home’s price that is at the top-end of the market for similar homes in a given area (–P)
  • A home that has easy access to major highway and is also located in a community with very little noise & traffic (+L)
  • A home that’s priced at or slightly below market conditions (+P)
  • A home located in an area of superior job growth and stability (+L), etc, etc… Continue reading this post

Posted by: John Badalamenti on March 8th, 2010 under Motivation

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Cooler Heads Prevail: Keeping it Together When Things Become Un-Glued

In the last few weeks, we’ve witnessed several public figures just simply lose their cool, then apologize and/or try to justify their outbursts.

temper-realtorWhich brings me to working a real estate transaction, which by its very nature is a very complicated and complex process wrought with many potential pitfalls. Add human emotion, and you sometimes have the makings of a tense situation that can get out of hand quickly if not in check.

I’m reminded of a phrase I heard some years back which stuck with me: ”Whomever makes you mad (or you let make your made) -– owns you!”

This doesn’t mean you should let people take advantage of you, or harm you in any way, but what it does mean is that by keeping your cool in trying circumstances when it is just as easy blow your top -– may in fact give you the upper hand, or at the very least, allow you to re-group and handle the situation with positive results.

Obviously some real estate transactions are more challenging than other.  I’ve found that keeping cool under pressure, thinking rationally and coming to reasonable and fair terms with a “win-win” solution for all the parties more often than not results in completed transactions, smooth settlements and happy clients.jazz-trumpet-relax

The late Jazz great Dinah Washington recorded a song sometime in the early 1960’s “Relax, Max” that’s been popularized recently as the background music for a TV commercial for a hotel chain (you should recognize it after the first few bars of the song).  Dinah also recorded a hit record “What a Difference a Day Makes”.

Perhaps she was trying to tell us to relax or sleep on it. Either way, good advice!


Posted by: John Badalamenti on September 24th, 2009 under Motivation

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Sound Advice and a Touch of Paint Equals A Sold Home

As a REALTOR®, communicating on a regular basis with the seller is a crucial component of the listing’s success. And, as I have so often found from experience, sellers who have mentally made the transition from “homeowner to home seller” have a much easier time accepting advice and feedback from their real estate agent realizing it as a means to an end: the sale of their home.

Such was the case for one of my listings (before and after pictures, below), a truly beautiful single family home that I sold back in early February, recently featured in the May, 2009 edition of “Best Room Makeovers”.

Painted in a South-West Adobe orange color motif, many buyers just found the family room too loud for their tastes.

The seller originally gave me resistance about changing the color, but after reading the feedback I was sending him from buyers, he finally realized the family room needed to be re-painted. Continue reading this post


Posted by: John Badalamenti on May 13th, 2009 under Home Improvement, Home Staging


This Market Is Not “Business as Usual” – It’s “Brutal as Usual”

"It’s important to re-train, re-think, and respond in kind with the re-tooled knowledge and skills to practice real estate effectively in one of the most challenging times in our history."

My real estate broker/manager came to me recently to ask if I would speak to the sales group at our weekly staff meeting about some of the things I’ve been doing recently to account for the amount of sales production I’ve had in the first half of the year.

First, I would like to state upfront that I hate “boasting” or sounding like a hubristic boar (I’m a great man – in my own mind) and I am a firm believe that once you start getting a big head about how great you think you are, you stand to lose your focus and things can take a turn for the worse. Continue reading this post


Posted by: John Badalamenti on September 22nd, 2008 under Market Trends

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The Reason Most People Buy Homes: Has It Been Forgotten?

People buy things for its “utility”, the pleasure or service received from a product or service, be it food, clothing, house cleaning, a car, a wide-screen TV, a computer, a hair cut, a manicure, and …a home.

I can attest first hand to the fact that when I show potential homebuyers a home, I don’t hear: “Oh look honey, we can make $15,000 on this kitchen when we go to sell it in 7 years”, or, “Wow, this wonderful back yard will net us $50K in 2015. People generally don’t think like that. They are looking at a home for its potential use and pleasure, its utility.

This doesn’t mean the homebuyer shouldn’t be prudent with their money. Most people should eventually buy a home, but not everyone and not at every point in their lives.

Obviously, responsible lending practices, coupled with a true understanding of what one can afford in a home are omnipotent. And the time to determine what one can afford is not in the kitchen of that “dream home” that was just viewed, but in advance with your lender and REALTOR®.

There are those that argue that a home’s future appreciation is extremely important in making a purchasing decision. I certainly don’t advocate purchasing a home to experience negative equity! But are we talking short term, or long term?

Homeowners benefit from the power of leverage. Over 10 years, a $10,000 investment in the stock market at a normal 10 percent rate of return would yield Continue reading this post


Posted by: John Badalamenti on August 15th, 2008 under Buying or Selling a Home


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