Single-family housing transactions: Seller motivations, price, and marketing time |
| |
Authors: | Thomas M Springer |
| |
Institution: | (1) Department of Finance and Real Estate, Florida Atlantic University, 777 Glades Road, 33431 Boca Raton, FL, USA |
| |
Abstract: | Factors such as relocation and financial distress motivate the seller of a single-family home to facilitate sale by posting a lower list price, communicating the motivations to the marketplace, or offering sales incentives to agents. Impacts of seller motivations on selling prices and marketing times are estimated using data for single-family homes sold in Arlington, Texas, from 1991 to 1993. Results show selling price discounts for houses with sellers who are either eager, motivated, or anxious, houses with sellers who have relocated, foreclosures, and vacant houses. Only foreclosure houses show the reduced marketing time expected for properties with motivated sellers. The results further suggest that the list price is the seller's primary mechanism for selling the property. Reducing the list price fosters faster sales at the sacrifice of the selling price. |
| |
Keywords: | single-family housing foreclosures seller motivations time on the market |
本文献已被 SpringerLink 等数据库收录! |
|