RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Pricing Tactics Every Smart Shopper Knows

February 4, 2015 1:27 am

Are you digging out of debt from holiday spending? Retailers use several tactics to entice shoppers to spend more, especially during seasonal sales. Understanding these ploys can help you avoid accumulating more debt by overspending. During your next shop, arm yourself with a budget and knowledge of these pricing strategies.

Store Perception Can Lead to Increased Spending
There’s a reason why retailers spend big bucks on branding. According to a profile in the New York Times Magazine, shoppers are willing to pay more for an item if it came from a store perceived as high-quality. To avoid falling into this trap, shop around for everyday items. A white T-shirt, for example, can be well-made without being pricey.

Costs of Big-Ticket Items Makes Small Items Seem Worth It

On your next shopping trip, remember to keep things in perspective. Retailers will often place smaller items near big-ticket ones to justify a higher price – a $100 tablecloth is not worth $100 just because it’s sitting on a $5,000 table, for instance.

“Sale” Keyword Affects Perceived Value

Discounts compel shoppers to spend whether the price is saving them money or not. When comparing items, do the math before purchasing. An item for sale may not be worth its cost, especially when up against a regularly-priced item for less.

Prices Ending in 9 Mean Little to a Store’s Bottom Line

The majority of retailers use the 99 cents strategy to trick shoppers into thinking that the item really doesn’t cost the rounded-up whole number. That one cent may be a drop in the bucket for retailers, but it can burn a hole in your wallet if you’re not careful. Train your brain to look past this tactic to save the most cash.

Items Priced without Commas Seem Less Expensiv
e
According to a Journal of Consumer Psychology study, higher prices broken up with commas appear much less costly to shoppers – $2799, for example, reads cheaper than a $2,799 tag. Some stores use commas and others don’t, so look for the lowest price when shopping around.

Source: Apartment Therapy

Published with permission from RISMedia.


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Should You Buy a Historic Home?

February 4, 2015 1:27 am

In the market for a historic home? Historic homes are coveted for their timeless charm, unique features and, of course, historical background. But owning your very own piece of history comes with its fair share of drawbacks – and many go beyond the surface of the home. If you’re shopping for a historic home, consider these factors:

Registration – When researching details of the home, find out whether it’s registered as historic on a local or federal level. A registered historic home can be subject to tax breaks, but it can also limit any changes a new owner may want to make.

Size – By nature, historic homes have a much smaller square footage than newly constructed units. Ceilings, in particular, are often lower, and bathrooms and kitchens rarely have the amount of storage new home owners are accustomed to.

Home Systems – As with any home, buyers shopping historic should have an inspection prior to purchasing. In historic homes, be mindful of blips on the inspection report that relate to the home’s internal systems – plumbing and electric – as these can be costly to update.

Chemicals – Lead and asbestos are big no-no’s these days, but not so when historic homes were built. Keep in mind that you will need to remove lead-based paints and popcorn ceilings, especially if you have children or elderly family members.

Source: Zillow

Published with permission from RISMedia.


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