•Q. We are getting ready to sell our home, but we don't fully understand how the asking price is determined. Can you help us figure out how much our home is worth?
•A. There are a number of ways to determine your home's value. The first item
is to disregard your view of your home's worth and start considering what it is worth to a prospective buyer. Chances are you have invested a lot of time and money into fixing up your house to be the perfect home. A buyer doesn't share your memories or care about your financial situation. A buyer cares about the value of the home in their lives.
The second item to consider is the comparative market analysis (CMA). This tool allows you to see what other similar homes have sold for in your area. Be sure to ask why certain homes were included on the CMA while others were not. The CMA is often a good tool to use to determine your beginning asking price. Consider going to open houses in your area to learn how other homes compare to yours. Remember to look at other homes with the impartial eye of a buyer, not from the view of a current homeowner looking to sell. Using the price per square foot formula is a good way to compare your home to others. This should not be the only determinant, but it can be helpful in setting a fair asking price.
The final item used to determine an accurate asking price is to consider add-on options. You may consider offering a lease to buy incentive, a quick closing date, or to assist in buyer financing. These added benefits could help you get a great price and help the buyer choose your home over another house.
The TRUE Value Of TIME...
We often forget how valuable our time is, until we see it all in perspective. Here's what I mean...
To realize the value of one year, ask a student who has failed a final exam.
To realize the value of one month, ask a mother who has given birth to a premature baby.
To realize the value of one week, ask an editor of a weekly newspaper.
To realize the value of one hour, ask the lovers who are waiting to meet.
To realize the value of one minute, ask the person who has missed the train, bus or plane.
To realize the value of one second, ask a person who has survived an accident.
To realize the value of one millisecond, ask the person who has won a silver medal in the Olympics.
Time waits for no one. Treasure every moment you have.
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