What a home seller thinks their home is worth and what a ready, willing, and able buyer is willing to pay are typically two different numbers. When deciding to put your home on the market, one of the most important factors is pricing to sell, and not to sit! This is where an experienced Realtor plays a huge role in guiding you to making the pricing decision. One of the most important guidlines to remember is to let the Realtor do his job and not to let your emotions get in the way of properly pricing your home. Sellers tend to add emotional value to their home that buyers are not willing to pay for.
When it comes to pricing; pricing a home too high for it’s value or neighborhood typically results in the home sitting on the market for an extended period of time. The longer a home sits on the market, the less buyers are generally willing to pay. While pricing a home too low results in leaving money on the table that most sellers could use. If you consult with your Realtor and come up with the correct market price, not only will you reduce the chances of the appraisal coming in low and jepordizing the buyers financing, but you will likely see more than one offer.
When you meet with your Realtor, He/she will provide the latest active, pending, and sold properties in your area. Not only will you consider the area, but you will also look at additional factors such as school districts, square footage, bedrooms, bathrooms, age of the home, upgrades, condition and style of the home. These are all very important factors when establishing the price of a home.
After looking at all the closest comparable properties in the area, you will do a comparison of those homes to yours to see where your home stacks up. Your Realtor can use his/ her expertise to help you determine the specifics of how your home compares against others in terms of condition, upgrades, and modifications. Your Realtor will also explain the current market conditions in terms of a sellers market or a buyers market that may affect the value and sale time of your home. A well priced home will sell in any market. Your Realtor will also be more objective when valuing certain aspects of your home that you maylove and add value to that may not hold the same appeal to a future buyer.
The market in general is looking good and with invetory on the low side, your home should sell reletively fast if priced accodingly. Remember to use a qualified and experienced Realtor to help you sell your home for top dollar and and quick as possible.
For advise on selling your home, please contact Me, Jeff Discher, for a free consultaion. 619-887-2800