Price it Right

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Pricing your home right from the start is the key to a succesful sale. This report is intended to help those wishing a speedy sale with a maximum return.

Why price right from the start?

Interest peaks on the average resale home in about two months, after that interest wanes and then bottoms out. The average property becomes "market worn" and buyers naturally begin to wonder "What's wrong with it?" Chances are there is something wrong with it, the price, and probably the condition, which is just an aspect of the price. Buyers are willing forgive a falling in foundation for the right price.

MORE REASONS TO PRICE RIGHT

• Carrying costs
• Inconvenient to always be ready to "show"
• Missed opportunities buying your next home
• May miss peak selling seasons

How can I determine value?

You deserve full market price as a seller. What happens in the market is that prices gravitate towards market rates. The market values the home. Knowing the market, the demand, and the competition can give you an indicator of how to price. Desirable homes in sought after neighborhoods can command a premium, as can well maintained homes in any neighborhood.

Some keys to value:

• Comparable Sales
• Market Conditions
• Property Condition
• Assessed value

Comparable Sales can be found on the county tax assessors site, or you can have a Real Estate Agent prepare a market analysis for you. An agent's CMA will often use data from the MLS, and might not consider all sales, but will still provide a good market sampling. What an agent's valuation will give you that the assessors site won't however, is market data in the form of days on market, listing dates, listing price to sale price, and what terms may have been offered. In comparable sales, square foot pricing is a good indicator of value.

Market Conditions can be derived from MLS data in an agent's CMA, but also ascertained by physically searching the neighborhood for sales by owners or flat fee brokers. Your agent can help you by providing MLS data that illustrates demand, trends, and the current market conditions.

Property Condition is a fundamental element of value. Well maintained homes that have added improvements can generally expect better results in the market. If your home's interior and mechanicals are dated, and all your systems are not fully operable, your value will be lower.

Assessed Value can be found on the Property Assessors web site. In most cases you can expect to receive more than your home's assessed value. How much more is fairly arbitrary, but area solds can give you a good idea.

The best way to determine your appropriate selling price is to contact a real estate agent. I am a licensed real estate agent and can give you a valuation of your property that will take into account all the above factors. If you would like a confidential, no obligation valuation, simply click on the link below.

HOME VALUATION