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pricing tips: You may not believe your agent, but the market doesn’t lie - 04/26/11 09:37 AM
When you put your house up for sale, the market starts sending you messages:
If your house has been for sale at least two weeks and you don't have any showings, Market says: your house is priced way too high and agents won't show it to their clients
If you have showings, but no offers within three weeks, Market says: your house is priced a little too high
If you have at least two offers and they're both much lower than the list price,Market says: your house is desirable but overpriced
If you get multiple offers, Market says: congratulations!
If you … (5 comments)
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pricing tips: Top reasons to use a CMA (comparable market analysis) for listing price, instead of an Appraisal - 04/11/11 01:36 PM
Sellers sometimes decide to get an appraisal so they'll know what their house is worth before putting it on the market. This isn't always the best option since an appraisal gives the impression that there is one "real" value and may set unrealistic expectations about what they'll actually get for their house. Sellers who are convinced by the appraised value may hold on to that price in spite of the lack of showings and no offers and feel gypped if a buyer offers less than the appraised amount.
An alternative is a Comparative Market Analysis (CMA), which is prepared by a … (0 comments)
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pricing tips: If it Hasn't Sold Yet, It's Priced too High - 05/27/10 07:44 AM
Scenario 1: an older home in good condition with curb appeal in a desirable location has been on the market for six months. It's still getting showings, and had an offer 2 months ago, but the buyer was unable to get financing. The seller said recently that he wanted to sell it quickly.
Scenario 2: a relatively new house in great condition has been on the market almost a year with one modest price reduction. There have been two offers, both of them very low, but no showings or offers recently. The sellers are divorcing and want to sell the house as … (7 comments)
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pricing tips: Common Misconceptions Among Buyers - 04/06/10 06:40 AM
Misconception: If you pay list price, you're paying too much.
If you don't know what the current market value is for homes in the area and whether the market is appreciating or depreciating, you don't know what a fair price is and you're likely to miss out on a great deal by trying to low ball a house that's already priced well.
If the house meets your goals, is within your budget, and is priced competitively, it's a bargain and you should make a strong offer. Get assistance from a professional to help you recognize a good deal and grab it … (84 comments)
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pricing tips: A House is Worth What a Buyer is Willing to Pay - 01/05/10 06:31 AM
The value of a house varies over time, increasing as the economy is strong and usually decreasing when the economy is troubled. In most cases, if held long enough, a house will appreciate in value from the original purchase price, regardless of economic conditions. Other factors have an affect such as how well the house is maintained and whether the neighborhood has a low crime rate and other houses are consistently cared for.
One can look at the prices paid for comparable properties to decide what the house is worth. This is merely a starting place. An appraisal is an attempt … (14 comments)
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pricing tips: The Basics of Good Pricing - 09/08/09 06:52 AM
I was searching MLS (in Tallahassee, FL) today and found two active listings in a nice neighborhood that were both priced at $259,000, yet one of them was 1550 SQF and the other was 2300 SQF. It didn't make sense. The last sale in this subdivision was one year ago for a 2200 SQF house that sold for $264,000. With falling home values, even the larger one may have been a bit too high. Hmm, I thought, maybe the smaller one is REALLY fantastic.
I checked the pictures and descriptions and all three (two active and one sold) appeared to have … (6 comments)
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pricing tips: The Seller-Expense Method of Pricing a Property - 09/07/09 04:08 PM
This strategy involves calculating all the seller's expenses and then basing the price on that, to ensure that the seller makes a profit, or at the very least, breaks even. This method of pricing is often used by un-informed sellers when there is little or no equity in the home and the seller doesn't want a short sale on their credit and/or can't afford to bring money to closing.
Typical expenses for sellers include:
Brokerage fee for both listing agent and buyer's agent Documentary stamps on the deed Pro-rated property taxes WDO (wood destroying organism) inspection and … (6 comments)
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pricing tips: When Pricing your Property, Think like a Buyer - 04/07/09 07:04 AM
Conventional wisdom says to get the best price for your property, clean it up - Preparing a Home for Sale - Consider Professional Cleaning, make needed repairs, make it attractive - Use Professional staging to Entice Buyers, and then price it right. Pricing it right seems to be the biggest challenge for most sellers.
Buyers who are working with a Realtor are already aware of the homes competing with yours. They have likely seen (or are planning to see) all the homes that are similar to yours in size and amenities. They are aware of the sale price for homes sold in the last … (3 comments)
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Colleen McConnell, Tallahassee Realtor
Tallahassee,
FL
More about me…
Advanced Realty Group
Address: 2344 Centerville Road, suite 105, Tallahassee, Fl, 32308
Office Phone: (850) 894-3944
Cell Phone: (850) 445-4673
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