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* It isn’t more than what your neighbor’s house sold for because you like your house better.
1. Objective – Most buyers look at quality, location, size, condition when evaluating a home. They are not really factoring in all of the great memories you have [url=http://www.vivid-host.com/barbour.htm]barbour uk outlet[/url] there. Keep those great memories out of the purchase price. A buyer won’t pay for them. Stay objective and know what interests buyers.
What is market value? International Valuation Standards defines market value as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion.”
9. Be the best value – Home selling is not brain surgery. People buy the best deal. Examine your competition and be the best deal. It is almost that simple.
3. Don’t wait for a sucker – Of course a home sells for more than it should every now and then. However, you cannot rely on [url=http://www.1855sacramento.com/woolrich.php]woolrich parka[/url] a sucker showing up and paying more than what your home is worth.
7. Remember appraisals – [url=http://www.1855sacramento.com/peuterey.php]peuterey outlet[/url] If someone buys your home there is a good chance that they will get an appraisal or have an appraisal contingency in the purchase agreement. Even cash buyers get appraisals. If your home will not appraise out you will not sell it. Find three recently sold homes that are similar to yours. Make adjustments based on size, quality, condition, lot size and anything else that affects value.
* It is not what your friend, accountant, family members, relative with a real estate license or anyone else thinks your home is worth unless they are willing to purchase it at that price.
One the biggest headaches that a Realtor has to deal with is the unrealistic expectations of a home seller. Most people believe their home is worth more than its true value. The real estate market is filled with properties that will never sell unless they come to grips with reality. A few of the reasons people overprice their property include lack of comparable home sales, poor Realtor representation, too emotionally attached to the home, believing improvements are worth more than they really are, ignoring competing homes for sale, valuing their home based on what they paid plus an expected appreciation rate and ignoring the current real estate market conditions.
5. Know the real estate market – This is where a good real estate agent is needed. Some agents put zero effort into pricing a home. They [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] basically ask the home seller, “what do you want to [url=http://www.sandvikfw.net/shopuk.php]hollister outlet sale[/url] sell it for?” Examine the properties currently on the market, under contract and waiting to close, recently sold homes as well as [url=http://www.davidhabchy.com]barbour sale[/url] any homes that failed to sell. How does your home compare to these. Again, be objective.
2. Forget about what your home used to be worth – Like the stock market, the real estate market changes daily. Homes sell, expire and new competition comes on the market. Real estate prices don’t move as quickly as stock prices but nonetheless [url=http://www.vivid-host.com/barbour.htm]barbour uk[/url] the market does change. Concentrate on what your property is worth today and what it will be worth in the next six months, not last month or last year.
10. Lower your price – You need to be flexible. Since the market changes daily you may need to change with it. Be the best deal out there and wait patiently. If a better deal comes on the market then you may have to lower your price to stay competitive.
* It isn’t what you paid for the home plus a needed or historical rate of appreciation.
What market value is [url=http://www.maximoupgrade.com/hot.php]hollister france[/url] not:
* It is not what you paid for the home plus Realtor selling fees.
Buyers are driving this market right now. If you are thinking about selling your home in a bad real estate market keep these tips in mind when establishing your asking price. You can have all of the marketing in the world but if you are asking too much for your home it most likely won’t sell.
4. Where [url=http://www.ilyav.com/uggpascher.php]boots ugg pas cher[/url] is the market going? – This is important to think about. [url=http://www.1855sacramento.com/woolrich.php]woolrich bologna[/url] If your market is trending down and getting worse then you need sell ASAP. Don’t be greedy and stick it on for an attractive price the first day. I had a home listed for $1,200,000. We received an offer for $1,000,000 which was market value and I explained that to the homeowner. The seller rejected the offer and the buyers purchased a different home. Roughly a year later she accepted an offer of $825,000.
Marc Rasmussen is a Realtor who sells Sarasota FL Real Estate
8. Get ahead of the market – In a quickly moving market you may need to make [url=http://www.mquin.com/giuseppezanotti.php]giuseppe zanotti pas cher[/url] an adjustment based on market conditions. When the market was hot in 2004 and 2005 a lot of sellers were taking the last sale and adding 5-10% to that price and making that their asking price. And, it was working. Now, the opposite may be needed. Since the market is moving quickly to the downside you may need to take the last sales price and make your asking price that or 5-10% lower.
6. More marketing does not justify overpricing – I do believe that good marketing is important in a bad market. You have to differentiate yourself from the thousands of other properties for sale. However, that does not mean that tons of print advertising, an open house every Sunday and thousands of Just Listed cards are going to sell an overpriced home. Great marketing may get a buyer in the door but that same buyer will look at your competition as well. Heavily advertising an overpriced home may only [url=http://www.mansmanifesto.fr]doudoune moncler[/url] help sell your properly priced competitor.
Here are ten tips to pricing your home properly.
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