Wayzata Real Estate & Wayzata Homes for Sale | GUSTAFSON
Dan Gustafson
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Wayzata Real Estate & Wayzata Homes for Sale | GUSTAFSON
Realtor Dan Gustafson lives/works in Wayzata, MN and provides unparalleled service to buyers & sellers at every price.

Pick the right price, right from the start

REALTORS Dan & Elisha Gustafson

When it’s time to sell your house, one of the most important decisions we can make together is to determine what kind of sale and purchase price you desire. Do you want to improve the property to compete for the buyer who has been trained by HGTV with grey and white as the predominant colors? Do you prefer a quick sale at a lower price without the work? Do you want a sale that is quiet and not on the MLS?

The reality of each sale is that the owner controls the condition of the house, and the asking price. However, the buyers control how much they are willing to pay. With that in mind, what kind of condition is your house in? Is it a Frank Lloyd Right architectural masterpiece? Is it tract housing from 1978 with original fixtures, dark woodwork, and original tile? What impact do these things have on price?

BUYER DETERMINES SELLING PRICE

As a seller, you need to keep this in mind because as we get ready to bring your home to market it’s important to list the property at or below what the market appears ready to bear. Listing it for another 5-10% higher than what the market indicates has the tendency to keep buyers from making offers, even if they do schedule showings.

The buyer actually determines the value of the home based on what he or she is willing to pay.

The problem with this is that by the time a seller comes to realize the home isn’t going to transact at the higher price point–and responds to a price reduction suggestion from your trusty Realtor the buyers who were looking at the houses in the area and price point have seen it and moved on.

Of course it get even tougher when faced with the decision of trying to do some improvements to meet market expectations–think HGTV again. The tendancy of sellers having done some improvements is that the market owes me even more for my house–but buyers don’t see it that way. It rarely works to tack that extra money on top, rather you should view the investment in prep as ensuring your receive the pinnacle price you can for the home, not the pinnacle price + 10%.

TINDER FOR REAL ESTATE – SWIPE RIGHT

You get seconds on a mobile device to make an impression on a buyer, much like online dating.

The price range of the house also plays a super large factor in this decision making process of where to list your property–if it’s a starter home in Crystal under $200k, you might get away with being high on price when there is a shortage of homes. If it’s a 25 year old house in the $600’s in Plymouth competing against other homes for sale in the Wayzata School District including new construction at the same price point it can be really tough. It’s also different when the lot outweighs the value of the structure as is often the case in Wayzata Real Estate.

The market has the tendency to swipe left or swipe right on your house instantly–your listing gets consideration for a moment and is deemed worthy of more consideration, or not. Closed Circuit to my wife Elisha  — I haven’t ever been to Tinder’s website nor used the service! Of course this is being done with other competing homes lurking in the background for the buyer’s consideration as well. It’s one of the reasons photos and presentation on line are so important today! By the way most house hunting is being done via mobile device on the couch at home!

I have included some bullet points from my listing presentation for your review:

What affects the market value of your property?

  • Physical Qualities of Your Property
  • Location, age, size of house and lot
  • Floor plan and architectural style
  • Market Conditions
  • Interest rates and availability of financing
  • Buyer demand
  • Prices of recently sold properties
  • State of the economy
  • Seasonal demand
  • The Competition
  • The number of similar properties for sale
  • Their prices, financing terms, location and physical condition

Some factors have no effect on the current value of your property:

  • Original Price
  • What you originally paid for your house.
  • Needed Proceeds
  • The cash proceeds you want or need from the sale
  • Opinions
  • What people say your property is worth

Interest in the property versus time on market.

When it comes time to price your property, it’s more important than ever to create that fear of loss by pricing right it out of the gate because the longer it’s on the market the more likely there is going to be less interest and an even lower price. If you have questions about this process, don’t hesitate to contact myself and Elisha for a no obligation consultation. Dan Gustafson is the best listing agent in Wayzata, MN.

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Wayzata Listings

935 E Lake Street, Unit 404

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 5000 sq ft
  • $4,900,000

3 Bushaway Road

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $695,000

2 Bushaway Road

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $650,000

110 Edgewood Court

Wayzata, MN

  • 2 Beds
  • 4 Baths
  • 2227 sq ft
  • $699,900

875 Lake Street N, Unit 408

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 2650 sq ft
  • $2,200,000

350 Highcroft Lane

Wayzata, MN

  • 5 Beds
  • 5 Baths
  • 4115 sq ft
  • $1,495,000

625 Rosswood Lane

Wayzata, MN

  • 4 Beds
  • 2 Baths
  • 1875 sq ft
  • $2,200

1107 Hollybrook Drive

Wayzata, MN

  • 2 Beds
  • 2 Baths
  • 2022 sq ft
  • $400,000

607 Gardner Street

Wayzata, MN

  • 3 Beds
  • 2 Baths
  • 1845 sq ft
  • $445,000

155 Wooddale Avenue

Wayzata, MN

  • 5 Beds
  • 4 Baths
  • 4450 sq ft
  • $885,900

240 Minnetonka Ave, Unit 102

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $176,160

240 Minnetonka Ave, Unit 103

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $262,560

325 N Barry Avenue

Wayzata, MN

  • 5 Beds
  • 3 Baths
  • 2375 sq ft
  • $399,000

460 Peavey Road

Wayzata, MN

  • 5 Beds
  • 4 Baths
  • 5160 sq ft
  • $1,850,000

875 Lake Street N, Unit 218

Wayzata, MN

  • 2 Beds
  • 2 Baths
  • 1570 sq ft
  • $775,000

534 Rice Street E

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 3776 sq ft
  • $1,740,000

530 Rice Street E

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 3601 sq ft
  • $1,700,000

214 Byrondale Avenue N

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 3619 sq ft
  • $885,000

399 Ridgeview Drive

Wayzata, MN

  • 4 Beds
  • 3 Baths
  • 3100 sq ft
  • $599,900

625 Locust Hills Drive

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 4973 sq ft
  • $2,495,000

191 Hunters Glen Road

Wayzata, MN

  • 4 Beds
  • 4 Baths
  • 4203 sq ft
  • $735,000

540 Rice Street E

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 3601 sq ft
  • $1,650,000

875 Lake Street N, Unit 211

Wayzata, MN

  • 2 Beds
  • 2 Baths
  • 1250 sq ft
  • $750,000

105 E Lake Street, Unit 203

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 2480 sq ft
  • $1,447,000

1406 Holdridge Lane

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $199,000

322 Bushaway Road

Wayzata, MN

  • 4 Beds
  • 4 Baths
  • 5879 sq ft
  • $2,350,000

110 Gleahaven Road

Wayzata, MN

  • 4 Beds
  • 4 Baths
  • 5225 sq ft
  • $1,199,900

110 S Minnetonka Avenue

Wayzata, MN

  • 4 Beds
  • 4 Baths
  • 3148 sq ft
  • $849,000

524 Rice Street E

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 3646 sq ft
  • $1,679,000

520 Rice Street E

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 2907 sq ft
  • $1,495,000

972 E Shady Lane

Wayzata, MN

  • 5 Beds
  • 7 Baths
  • 7374 sq ft
  • $3,249,000

875 Lake Street N, Unit 204

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 2190 sq ft
  • $1,299,999

875 Lake Street N, Unit 316

Wayzata, MN

  • 1 Beds
  • 2 Baths
  • 1110 sq ft
  • $699,900

460 Highcroft Road

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $1,825,000

686 Ferndale Road W

Wayzata, MN

  • 4 Beds
  • 8 Baths
  • 7750 sq ft
  • $5,995,000

641 Harmony Circle

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $295,000

601 Bushaway Road

Wayzata, MN

  • 5 Beds
  • 8 Baths
  • 10016 sq ft
  • $6,250,000

295 Whitegate Lane

Wayzata, MN

  • 6 Beds
  • 5 Baths
  • 5767 sq ft
  • $1,190,000

105 E Lake Street, Unit 107

Wayzata, MN

  • 2 Beds
  • 2 Baths
  • 1370 sq ft
  • $725,000

105 E Lake Street, Unit 305

Wayzata, MN

  • 2 Beds
  • 2 Baths
  • 2090 sq ft
  • $1,215,000