What Is The Value of Your Home?

 RIGHT PRICE.  WHO DETERMINES THE MARKET PRICE OF MY HOME?

We perform extensive market research spending our enegery and experience on analyzing and preparing the best list of homes sold during the past year or less.

Your home is priced accurately from day one.

You do not want your valuable investment to be either under-priced or over-priced

Price is one of the most significant factors potential buyers consider when looking at a property. 

 How do we establish the price of your home?

First of all, there is no “right” price. The Real Market Value of your home is dependent on what someone is willing to pay for your home, you decide to accept that price and and how long you are willing to wait to find that person.

Time is of the Essence – You are not in the position to wait for the “ideal” buyer who will pay your “ideal” price.  The majority of buyer activity on a new listing occurs in the first two to three weeks of inital marketing.  If a property has not received an offer within 60-90 days it is OVERPRICED by at least 5-10%.

IT IS IMPORTANT that you have your house in the BEST CONDITION and at the RIGHT PRICE and the FIRST EXPOSURE!

RIGHT PRICE  The first step in determining your offer price is to look at the recent sales of similar homes. These are called “comparable sales.” Comparable sales are recent sales of homes that compare closely to your house.

 What makes a good comparable sale?

Your best comparable sale is the same model as your house in the same subdivision—and it closed last week. If you can’t find that then the presence or absence of the below factors will affect the selling price of your house.

 Location: The closer to your house the better.  A good comparable sale is a house in your neighborhood, your subdivision, on the same type of street as your house, and in your school district.

Home Style: Type of construction material, square footage, number of bedrooms and baths, lot size.

Amenities and upgrades: New appliances in kitchen? Crown molding, a deck, or a pool? 

Date of sale: You may want to use a comparable sale from years ago when the market was high, but that won’t work! Buyers use government-guaranteed mortgages, and those lending programs say comparable sales can be no older than 90 days.

Sales sweeteners: Did another seller give the buyers closing costs, or a free television? You have to reduce the value of any comparable sale to account for any deal sweeteners, (called buyers concessions in real estate terms)

The trick is finding sales that closely match yours.

We are experienced in pricing  property and will keep abreast of the market which will help you realize the optimum value for your property.

During the process, we review

 1  newly available simular properties

2 Recent sales of any comparable properties.

3 Price reductions on listed comparables properties.

4 Communication from other sales agents and potential purchasers

 Sellers who try to hold out for the highest price, however, may find themselves reducing the price down the line. A house that has been on the market beyond the average marketing time generates little interest from buyers, even when the price is reduced dramatically.