Pricing your home to sell is one of the most important things you can do….. If thinking about selling are you realistic and is Your Home Priced To Sell?
If you are a homeowner and searching for a new location to live or are relocating to another City/State you are already thinking about selling your current home. (See our home selling tips here)
Many steps are involved to get your house on the market and ultimately receiving a buyer offer. What is one of the “key” ingredients of pricing your home to sell? Price is one of the most important elements of the sale.
Pricing your home to sell and still providing you with a profit requires some important research to be conducted.
What is important when pricing your home? The most important piece of information to help determine your price is what comparable properties are selling for.
You will want to look at a number of similar homes to see what the original list price was and at what price it sold. After that, you will want to take a look at your neighborhood sales. While not all the houses will be the same size or have the same amenities, location to desirable shopping, good schools and parks can add to your potential price.
Foreclosures or other negative neighborhood aspects could drive your price much lower.
Myth: Many home sellers think they need to start with a higher price in order to leave room for negotiations. More often than not this is not a viable strategy, especially in today’s market.
Homes overpriced tend to remain on the market longer and unsold. During this time, you are paying your mortgage, utilities, property taxes, and maintenance costs. These costs usually add up to more than the money you might make by listing at a higher price. Why waste the time and later to the inevitable “price reduction”. Sell the home and get on with your relocation goals. You may make up any concessions on your next buy. Our friend Laurie Manny of Long Beach Realty wrote a great article which is still germane today – click the link following….Instead of “Chasing the Market Down” price your home aggressively and get on with life.
The aggressive homeowner in a seller’s market who gets out in front of the real estate market can yield multiple buyers and multiple offers. Multiple offers can often result in a higher price for your home. When buyers compete against each other, you win.
Let us prepare a detailed Comparative Market Analysis for your home, and together we can come up with a great pricing strategy to get your home sold. Contact us here.