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Setting The Price Of Your Home
The three factors to consider in selling you home are location, condition and price...and they are all related.
Location
Your home’s location and setting influence its value. A home inside a quiet subdivision sells for more than the identical home on a busy street. Remote areas typically sell for less than close-in areas. Views, streams, and trees usually enhance value. You obviously have no control over location.
Condition
New homes enjoy a marketing edge over resale homes because they are shiny and clean. Also, builders enhance their appeal by offering model homes (clean, bright, decorated in current colors and amenities) for buyers to examine.
You have nearly complete control over condition and you increase value and decrease marketing time by being sure your property is in the best possible condition.
Pricing
If IBM stock is trading between $104 and $108, it does no good to insist on selling at $112. Likewise, your home must be priced within the appropriate range. You must actually "sell" your property twice: first to a buyer and then to an appraiser. The buyer is more subjective and compares the amenities of your home to those of other homes in the same price range. The appraiser is more objective and compares age, size and cost-identifiable features in your home against other properties that have sold.
Cliff & Gary use their experience and expertise to fine-tune the price
by taking into consideration all of these variables.
Why You Should
Price Your Home Realistically
Time
Chances are that your home will sell at its fair market value. Pricing it realistically at the outset simply increases the likelihood of a timely sale with less inconvenience and greater monetary return.
Competition
Buyers educate themselves by viewing many homes. They know what is a fair price. If your home is not competitive in value with those they have seen, it will not sell. Buyers typically look at homes within a $10,000 price range. If your home is not priced within the correct range, it very likely will not be exposed to its potential or targeted buyers.
Reputation
Overpricing causes most homes to remain on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear "something is wrong" with the house. Often, homes that are on the market for a long time eventually sell for less than their fair market value.
Inconvenience
If overpricing keeps your home from selling promptly, you may end up owning two homes—the one you’ve already purchased and the one you’re trying to sell. This can prove costly and worrisome and inconvenient.
Eighty percent of the marketing of your home is done
the night you decide at what price we will list your home.
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