If you are planning on selling your home in the next few months, you have some homework to do! 

• First and foremost:  What is My Home Worth?  That is the million dollar question! 

You need to obtain a Market Analysis from a licensed Realtor that is local to you, knowledgeable about the market conditions and has experience in conducting market analysis, as well as, selling homes in your area.

The most common method of determining the value of homes is to have a CMA conducted on your property which is the acronym for Comparable Market Analysis.  A CMA will show you exactly what properties that are similiar or comparable to your homes have sold for within a specific and recent time frame.  These analysis are based on FACT, rather than opinion and facts will ALWAYS be more valuable to you than an opinion. 

This CMA will indicate recently solds, expireds, pending and active listings.  The first clue of your home worth is the sold properties, these are the ones that you need to be most concerned with.  What homes are listed for is not always a good indicator as to their value, pending home will only tell you what it is listed for and the expireds are great to see what a home was listed for and what it expired under and typically it expired because it was overpriced.

It is not A-typical for sellers to feel that their properties are worth more than what the CMA indicates, however, be forewarned the professionally conducted CMA is again, based on FACT not opinion and gives a more accurate picture as to your home's true market value.  As a seller, you have to de-personalize the value of your home because to buyers, your home is a commodity, not a place that they raised their family as you did, it is a piece of property in a buyers eyes, not a "home" yet.  Put your feelings aside and look at the facts through a CMA and if you trust your REALTOR (and you better trust them or find a new one) then listen to the facts as they are presented to you.

This is a buyer's market, if you miss the target when pricing your home, not only will the home not sell, you will be angry and frustrated at your agent and your agent will feel helpless and worthless and the house will lose value DAILY!  Even in a buyer's market, the average days on the market in Knoxville is exceeding 75 days, the fact still remains that if you have not sold your home within the first 21 days, the "honeymoon period" is over.  That means that the first 21 days is when the right buyer who was looking for a house at the right price has moved on and purchased a home that is more accurately priced.  After 21 days, the house loses the "new kid on the block" advantage and this is a critical time during listing a home. 

Also, in a buyer's market, the seller has to price their home at tomorrow's market price, not yesterday's market prices.  If prices are, for example falling at 5% a year, then a $500,000 property will be worth $498,000 next month!  Then by the end of a typical escrow it will fall to $495,000.  A seller needs to be proactive, see the market at tomorrow's prices and price accordingly -- a seller needs to price the house at $495,000 to begin with so that they can be the next home to sell before values go down again!

If you would like to find our your home's current value at TOMORROW'S market prices so you can be the next home to sell visit:  http://www.sondrasheckler.com/ or click here to go to the seller's direct page.

CALL ME AT 865-454-3307 and let me conduct a complimentary

CMA

for you! 

EMAIL YOUR ADDRESS TO ME AT:  sondra@knoxvillehomesandneighborhoods.com