How to price your home – one of the most important issues you will face.
Pricing will determine the following:
Unless there are extenuating circumstances, such as your property’s being located in a high-risk, undesirable or unusual area, the listing price of your home will set the tone for your entire transaction.
That’s why my expertise and knowledge of your local neighborhood is so helpful. I will gather statistics that quantify the prices of comparable homes in your neighborhood:
I will compare aspects of those homes against the features of yours. I will also analyze market conditions, the current mortgage rates, neighborhood reputation and characteristics, among other considerations, to create a Comparative Market Analysis (commonly known as a "CMA"). The CMA provides objective information that will enable us to make an educated, informed pricing decision designed to yield a speedy sale for the most advantageous price possible.
Philosophically speaking, put yourself in a potential buyer’s shoes when considering pricing. Buyers’ main considerations will be location, age of property, its condition and style and of course, price. Thinking objectively about these matters will help you and me determine a price based on fair market value -- what your house is worth in the current market, not the amount you or your buyers would like it to be. You may even consider viewing a couple of homes currently for sale with your Realtor to position your home listing appropriately in the market.
Other key aspects to consider include the following:
But my house is worth so much more...
Emotion and pride should have no place in the pricing process. Sellers speak of value, amount invested and what they can afford "to take." Buyers consider only price, condition and other properties offered. Pricing your home correctly is not a whole lot different than pricing other items you would sell, pre-owned, correctly. Think like a buyer. That's the key!
IDX information is provided by the Centre County Association of REALTORS® MLS, exclusively for consumers’ personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed accurate by the Centre County Association of REALTORS® MLS and should be independently verified. No reproduction, distribution, or transmission of the information at this site is permitted without the written permission from the Centre County Association of REALTORS® MLS.
This content last updated on Friday, May 3, 2024 5:36 AM from BRIGHT.
This content last updated on Wednesday, February 8, 2023 10:00 AM from CCAR.
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