As the housing market recovers interested home sellers need to remember the underlying theme for you home to get sold quickly is having a fair price. Find a local real estate agent who knows your neighborhood and what comparable homes have been selling for.
You want to avoid pricing your home to low where it sales immediately, nor do you want it to linger on the market for so long it finally sales only after multiple price reductions.
Ask your real estate agent to give you a couple pricing points when completing an initial market analysis. The first pricing point should be focused on get your home sold within the first few weeks of being on the market. This price is usually just below current market value and allows a seller to sell quickly without chasing the market.
The next price point is a three month listing. This price point should give you a price that would take you up to three months to sell. And, it’s only good if the market is steady or at worsts slow. Keep in mind that if your market or neighborhood is declining in value, today’s price will be overpriced in just a few months!
No matter what real estate market you’re in, pricing your home takes expertise and knowledge of current market trends. What you paid for your home has no bearing on what the home will sell for in today’s marketplace
Once you realize as a home seller, that the price of your home is dictated by the current market trends, you’re on your way to pricing your home correctly.
Pricing a home really is a science that only an experienced real estate agent knows and it begins with determining a price point free of emotional attachment. What you would pay for a certain feeling or special memory has no value to potential home buyers.
Emotional attachment hampers the sale of your home and only a real estate agent can give you that third party opinion on what your home’s value may be in today’s market without it.
Selling a home in a slow market is difficult and very frustrating if you don’t take the initial steps of pricing it right. The overall housing market has improved since the real estate bust, but home values still haven’t reached their highs prior to the real estate meltdown. Many home sellers are still competing against distressed property owners including short sales and foreclosures. These properties are usually priced at or below market value, making it all the more difficult to grab potential home buyer’s attention if you’re overpriced. In order to compete with these properties, you have to make your price competitive.
There is a third price point and one that more often than not disappoint home sellers. If you believe you can price your home and sell it at a price the market has failed to prove it will bare, don’t be insulted if a real estate agent respectfully chooses to refuse your listing.
It’s nothing personal, but your home will sit on the market costing you mortgage payments, insurance, maintenance costs and it also cost a real estate agent valuable marketing dollars, their time.
Simply put, a well-priced home is still the only way to sell in the vast majority of markets today..
A SIMPLE HOME SHOPPING INSPECTION TOOL
Organizing your home shopping experience affords a wise decision making process. This simple home inspection tool makes your ultimate buying decision a smart one. To print this document click on “Open in New Window” located at the lower right corner; click on “File”; then click on “Print”. In the center of the screen you will have the option to “Create A Printable PDF of the Presentation”.