According to.... who? what?
Here's a great post from my farm girl Realtor friend Andrea. I have personally found that sellers are more realistic in general about the current market conditions. In fact I saw a report somewhere this weekend that said more than 50% of home owners believe that their home has decreased in value this past year. But last week I had a seller attempt to justify a too-high price with a 3 year old appraisal....
Price is accordingly, it should be the new catch phrase.
Yes, there are a glut of homes that aren't moving. However there are homes that are moving, homes that are well priced are being sold. What does that mean? These homes are priced accordingly.
According to condition. If your find a home that sold that is very similar in many ways to your except one, condition, you need to price your home accordingly. If you are in better shape, you have done recent upgrades, you are clean, neat, ready to move in, you are on top of the heap. If you home requires work you need to be priced lower. Take for instance you know you need a new roof. You know what that is going to cost. What is your best option? Price it accordingly if you can't replace the roof yourself. Price it accordingly if you can't put in that new septic.
According to location. Are you on a busy road? Is there a half mile long dirt driveway to your house? Is your driveway steep up or down? These affect the pricing of your home too. You must consider these when pricing your home to sell. Finding the right buyer can be hampered by a severely compromised driveway, however pricing accordingly can help to get that offer.
According to the latest market stats. You have to take a good long look at the comparables that have sold. It is very difficult to be objective about something we not only have so many memories tied into, but debt certainly plays a part in our ideas about what a house should sell for.
NOT according to your debt. Debts are never to be considered in the pricing of your home. A buyer is not going to care what your mortgage obligation is or what your credit card obligation is. An appraiser will certainly not take your debt into consideration when giving an opinion of value to your home. Contact a real estate professional to help you price your home. A Realtor® will have the ability to show you current market trends, show you what has sold that is relevant to your home and what will be your competition if you should decide to place your home on the market.
My strongest advice on pricing your home these days? You guessed it.
Price it accordingly!
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