PRICE YOUR HOME TO SELL, Part 1 of 5

PRICE YOUR HOME TO SELL
BY JOHN OCCHI, HEMET REALTOR®
Originally posted to this BLOG

This is a rather lengthy report that I have written, that I use as part of my pre-listing packet, so the homeowners will understand the principals without a perceived ‘sales job'.  If they take the time to read through this report, they will have a very clear understanding of where their price should be, once I provide them with the analysis portion of a CMA at the actual presentation.  They will know exactly where to price their home so it will sell.

Because of the length and so many variables, I have decided to reduce this report to a lesson plan with a new lesson being released each day.  I'm actually thinking it may make a great drip campaign for internet related leads (which I'm now getting since I made it to page 1 of both "Hemet Real Estate" and "Hemet Realtor" in Google after having my site up for only 6 months. (I can't help myself, but I get all giddy when I think about it - it makes me proud.)

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Part 1 of 5

With all of the discussion about the Real Estate market, I feel that many people are being foolish when it comes time to consider if they should sell their home or not. Let's assume for this discussion that we can all agree that the market has turned flat and in some isolated areas, values have started to slip. So the question remains, "Do I get out now?" or "Do I ride the storm out and see what happens in the next couple of years?"

Of course, there will always be sellers who have to sell now, regardless of market conditions. Several examples of these sellers are those who are being transferred out of the area; those who have gone (or are going through) a traumatic life change, i.e. divorce, death, illness, and even the kids going off to college; and then there are those that are financially strapped - perhaps they got into their existing home with some exotic mortgage that did not live up to its expectations.

In any event, this article is not written for the above individuals specifically, although every thing I will discuss here is sound advice and should be considered by everyone who is even remotely thinking of selling their home.

QUESTIONS TO ASK BEFORE YOU SELL

So, if you want (or need) to sell your Hemet Real Estate, lets first start with some questions to ask yourself. They may include:

What condition is the real estate market in my neighborhood? How many homes sold this year compared to last year? What is the current inventory? Are prices going up, staying the same or going down?

Do I need a Real Estate Agent, or should I do it myself?

Am I selecting a Real Estate Agent based on the services he (or she) will provide, or am I shopping on price for a Realtor? (see yesterdays post that shows the difference between how many homes sell, are listed and expire - broken down by commission)

Is my opinion of my homes value based on good solid comps from my neighborhood or am I on a diet of pie in the sky?

How many different homes would I be competing with in my neighborhood? What condition is mine in, compared to the competition? Am I lacking amenities? Have I over-improved my property for the neighborhood?

Since I bought my home, which improvements that I have made have actually increased the value of my home? Which improvements did I do for my own pleasure and not for the increased value?

Am I being motivated by my personal financial needs, or is my decision a sound one based on the real facts?

Does it matter what I paid for my Hemet home? Is the original purchase price going to influence my pricing strategy?

Do I have what it takes to price my home right for today's market, and stand firm on the price?

If I sell my current Hemet property then I will have to buy a new home. Do I know how the current market will influence me when I am ready to buy? (sell first and then buy - but that's another article)

How important are the benefits of moving now if I have to sell my home at the current market price.

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I hope this has started to stimulate your thought process.  Tomorrow we are going to help you answer the question of who is the best Hemet realtor to sell your home and then we'll examine how we examine the market for trends.

I hope to see you back here tomorrow.  Until then, please, Have a Blessed Day,