A PRICING PUZZLE

If you need to sell your home, but you don’t have enough equity, you're facing a pricing puzzle, because you don’t want to come out of pocket with more than you have to.  But, before deciding on a fair price that may be below what you really want, ask yourself...

If your home sits on the market, waiting for a higher offer, how much will it cost you each month in mortgage payments, utilities, maintenance and insurance?

Compare the asking prices of homes similar to yours to their actual sales prices. Understand that sales price is often determined more by the lenders than the buyers.  For example, if you’re asking more than your home's current value, the required appraisal will show that, and the lender won't approve the buyer's loan, leaving you back at Square One.

You can save the time and hassle of doing all of the leg work yourself by enlisting the help of a  competent REALTOR®.  He or she can arrange to tour similar homes listed in your area, compare their price per square foot,  and see how yours stacks up against the competition in terms of value.  This should help you arrive at an aggressive asking price that will hopefully be your sale price.

Your REALTOR® can explain the absorption rate for your local area as it too will likely affect your asking price. If you have questions or want help solving your pricing puzzle, contact  1st Choice Realty of Fayetteville, LLC.