Pricing Your Home To Sell
|Posted on 15 May, 2014 at 15:40|
People ask me all the time how do I know how to price my house right when I decide to list. Well let me begin by saying that is one of the biggest reasons I beleive you should have a Realtor when listing. Now does that mean that what they say or what I reccomend as being the absolute? No, there is no absolute in pricing. What there is are ways to find out satistically what prices will give you your best chance of selling based on past experiences. This process is known in the real estate bussiness as CMA (Comparitable Market Annalysis), it is basicly a research done by judging areas in close proximately to the house that you as a cleint are ready to sell. I like to use the 3 mile radius or closer if possible. The closer the better and the more similaries with the house it self the better the comparitable.
The similarites should include Ht. Sq Ft., the number of bedrooms, and bathrooms. The number of rooms and if it does or does not include rooms, such as a Formal Dnning area, family room, den, living area, etc, etc, The Comparitable should include at least 3 similar sites and again the more the better, but keep in mind that sometimes havng too many can create more confusion at times. The mistake that alot of people make is that they think that home improvements will always increase the market value, when in fact it is more of a selling point. Now what do I mean by that is that two fold answer. First it can help you get more offers quicker then normally and in the end sell your home. Secondly, it can increase the amount of the offers, if if it is reasonable, for instance houses that have similar improvements get in your location $10,000.00 more on an average, chances are you will or should get the same amount but lets say you think that you should get somewhere in the neighborhood of $30,000.00 it most likely is not going to happen even though lets say your improvements are of more quality and of more exspense, most buyers will chose the lessor increase. This happens alot in developments where new resale homes compete against newly built or under construction.
The other points that I like to add in my conclusion of pricing is that the following points should be considered and they are the following:
Is it worth the time on the market and possibly not being able to sell your home all together to as they say "stick to your guns" and "firmly plant your feet to the ground" ?
Will the new home location, are home prices and taxes, lower with all things beinging equal offer you a chance to make up any lost in your projected amount of profit from selling your home? (you have to balance and weigh out the diffrences and remember when it's a seller's market and you can sell for more .... your new location will probably cost you more as well ... unless your new location is still a buyer's market)
Consider your home when selling no longer a home but a house, it makes things easier to accept, such as comments and pricing. With a home there comes many memories and the blood , sweat , and tears , that happen over the years of owning and that is not always an easy thing to do, but remember before long that new home will be filled with the new love you and your family have to offer.
And finally no one but no one can tell you exactly what you are going to get or what your market value is .... My self and other realtors don't have a crystal ball but if we do our job right and wth honesty and not always agree or tell you what you want to hear but based on the satistics and demonstrait to you how we come to such a conclusion and most importantly sell your home at a reasonable price in the shortest time period possible, we are serving you in the best most possible manner. Good Realtors will discuss possible reasonable request from you to increase the asking price and walk away from those that are unreasonable and a waste of time for all parties concern. My brother who is not a Realtor but some one I think has alot of common sense has a saying " a house is worth what people are willing to buy it for"
I and most will be glad to do a CMA (comparitable market analysis) at your request and discuss at no cost to you ....