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

401 Gardner Street

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 4002 sq ft
  • $375,000

105 E. Lake Street, Unit 305

Wayzata, MN

  • 2 Beds
  • 2 Baths
  • 2220 sq ft
  • $1,215,000

675 Hillside Drive

Wayzata, MN

  • 4 Beds
  • 4 Baths
  • 5453 sq ft
  • $999,900

105 E. Lake Street, Unit 203

Wayzata, MN

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

105 E. Lake Street, Unit 202

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 2270 sq ft
  • $1,135,000

105 E. Lake Street, Unit 301

Wayzata, MN

  • 4 Beds
  • 3 Baths
  • 4160 sq ft
  • $2,399,000

190 Gleason Lake Road

Wayzata, MN

  • 4 Beds
  • 3 Baths
  • 3600 sq ft
  • $3,800

105 E. Lake Street, Unit 101

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 3000 sq ft
  • $1,390,000

1509 Hollybrook Road

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 2100 sq ft
  • $599,900

2918 S Country Road 101

Wayzata, MN

  • 3 Beds
  • 2 Baths
  • 2004 sq ft
  • $1,895

935 E Lake Street, Unit 407

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 2650 sq ft
  • $2,170,000

128 Broadway Avenue N

Wayzata, MN

  • 3 Beds
  • 2 Baths
  • 1352 sq ft
  • $440,000

243 Bushaway Road

Wayzata, MN

  • 5 Beds
  • 3 Baths
  • 2630 sq ft
  • $599,900

398 Waycliffe Drive N

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 3638 sq ft
  • $845,000

972 E Shady Lane

Wayzata, MN

  • 5 Beds
  • 7 Baths
  • 7374 sq ft
  • $10,000

348 Waycliffe Drive N

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 3719 sq ft
  • $1,000,000

453 Waycliffe Drive N

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 4107 sq ft
  • $749,900

901 E Lake Street, Unit 202

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 1998 sq ft
  • $1,450,000

259 E Lake Street, Unit 304

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 3172 sq ft
  • $2,399,900

329 Broadway Avenue N

Wayzata, MN

  • 5 Beds
  • 5 Baths
  • 3272 sq ft
  • $999,900

875 Lake Street N, Unit 201

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 2370 sq ft
  • $1,395,000

366 Waycliffe Circle N

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 3441 sq ft
  • $735,000

365 Ferndale Road N

Wayzata, MN

  • 4 Beds
  • 3 Baths
  • 2050 sq ft
  • $2,700

935 E Lake Street, Unit 301

Wayzata, MN

  • 2 Beds
  • 3 Baths
  • 2484 sq ft
  • $2,100,000

1607 Holdridge Terrace

Wayzata, MN

  • Beds
  • 0 Baths
  • 0 sq ft
  • $400,000

1533 Hollybrook Road

Wayzata, MN

  • 3 Beds
  • 3 Baths
  • 2719 sq ft
  • $369,900

816 Park Street E

Wayzata, MN

  • 3 Beds
  • 2 Baths
  • 1666 sq ft
  • $524,000

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

875 Lake Street N, Unit 408

Wayzata, MN

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

155 Wooddale Avenue

Wayzata, MN

  • 5 Beds
  • 4 Baths
  • 5354 sq ft
  • $949,800

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

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

191 Hunters Glen Road

Wayzata, MN

  • 4 Beds
  • 4 Baths
  • 4203 sq ft
  • $699,000

540 Rice Street E

Wayzata, MN

  • 3 Beds
  • 4 Baths
  • 3601 sq ft
  • $1,500,000