Previously we discussed cleaning and de-cluttering (week one) and staging (week two).
Now we are going to discuss the most important aspect – pricing.
The correct price will overcome all objections, such as: poor location (something you can’t change), unpopular style (another thing you can’t change), too much fixing up to be done (something you can do, but may not have the cash to address) and decor (something you could do, but choose not to).
My advice is to always get the advice of someone “in the know,” because you don’t want to spend a lot of time or money making unnecessary or undesirable improvements or changes.
To establish the best price for your home you must look at your competition (those homes currently on the market that are either in tour town or neighborhood that have similar amenities ie. 3 bedrooms, 2 baths).
Your must look at “pending” sales (those currently under contract that have not closed yet) to see what people are buying and in what price point.
With the advent of the Internet your agents will have access to interior pictures of the completion, pending and sold properties to demonstrate further what people like and at what price range.
Most important is to look at the “sold” properties. These are the ones that an appraiser will use when you find a buyer and are under contract. The bank/ lender will need to be assured that the value is there, in your property, as they are typically investing the largest chunk of money, which enables a buyer to get financing and purchase your home.
Your agent should be aware of the adjustments that appraisers use, for variables such as number of bedrooms and baths, square feet, etc. Appraisers will use the most recent sales within the closest proximity to your property.
Weighing all of the above information you should have a price range in which to place the value of your home…
If you would like a market analysis done of your home. Please contact us.