Selling a Home
If you are thinking of selling your home, chances are you're caught up in a mass of emotions. You may be looking forward to moving up to a new home or facing the uncertainty of a major move across country. You may be reluctant to leave your memories behind or eager to start new and exciting adventures. Remember, I'm here to help. Call or email me today!
Setting the Listing Price
In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood buyers will determine which houses they want to view. Consider the following pricing factors:
- If you set the price too high, your house won’t be considered for viewing, even though it may be much nicer than others in the area.
- If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.
- Buyers look at about a dozen properties on average before making an offer on a property. As a result, they have a good overview of the market and will compare your property against the competition. If it’s not in line with similar properties that are available, buyers won’t consider it good value for money.
To determine the proper list price, contact me today and I'll provide you with the following professional services:
- Furnishing comparable sales.
- Analyzing market conditions.
- Helping to determine offering incentives.
- Estimating your net proceeds.
Using Comparable Sales
No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours.
Also we can furnish data on sale figures for those "comps", and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales we bring to you, along with data about other houses in your neighborhood presently on the market, is used for a "Comparative Market Analysis (CMA)." To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices.
This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided as a service by me and may also include properties currently listed for sale and those currently pending sale.
In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.