Buying or Selling a Home/basement square footage

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Expert: - 6/14/2006


Question
We are trying to price our house for sale.  Should our basement price per square foot be the same as the rest of our house or should be priced at a reduced rate?

Answer
The basement is usually treated like the garage in many cases. The square feet of a home ONLY includes the area that is HEATED AND COOLED like the rest of the house. Otherwise it is not included in the total square feet. If it is heated and cooled like the rest of the house, then you may price it as a rumpus room, rec room or office or for whatever it is being used.

After you have added up the figures, if you want to sell the house rather than letting it sit there with a for-sale sign that is gathering cobwebs, knock the price down 10%-20% in this kind of market. I practice what I preach. Yesterday I sold a listing for 10% below the original listing price. And that is here in southern California.

I do wish you well.

Dick Dennis               dixiedee13@aol.com  

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

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Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

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e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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