Pricing your home right for the Iowa City real estate market is a two step process.
I touched on the tangible part of that process in my last post when I talked about collecting data and the value of a Current Market Analysis. The second part of the process is to look at the intangible aspects of the market that will affect the sale of your home. This is actually the bit you need a good real estate agent for. It's relatively straightforward to collect data on comparable properties in your neighborhood. Analyzing that data and looking at other intangible aspects that will play into the sale of your home requires an experienced Realtor who understands the real estate market in Iowa City.
Here's a short list of some of the intangible aspects of selling a home a good Realtor will look at:
- What kind of neighborhood do you live in? For example are there a lot of young families, or is it a low turn over neighborhood where homeowners have owned their homes for 10 years or more.
- What is the status of the street you live on? Is it in an historical district? Is it close to a sought after school? Or what's even more important in Iowa City, how close is it to the UIOWA and UI Hospitals?
- How well does your house fit into your neighborhood? Is it a small house surrounded by large houses or a large house surrounded by small houses? Is there something else that sets your house apart from other houses in the neighborhood? (This could be positive or negative).
This doesn't cover everything, but gives you an idea of what kind of things we need to look at to price your home right for the Iowa City market. Remember, the most important thing is that you're not just selling a house, you're selling a lifestyle. And to do that you need to look at the bigger picture.
Most importantly, if you're serious about selling your home you need to get this right from the moment you put your house on the market. The Internet has changed everything and "testing" the market is no longer an option. This might have worked in the past when the only way to check what other homes sold for required a visit to the county assessor's office. These days there is an enormous amount of data to be found online and Buyers are tech savvy enough to know where to find it, (or have a buyers agent to guide them). Either way, they're not going to overpay for a home. Pricing your house right for the Iowa City real estate market from the get go is what will get it sold!
Are you getting ready to sell your home the Iowa City area? Do you have questions you need answers to? Located in Coralville the areas I know best are Iowa City, Coralville and North Liberty. Past (and present) clients tell me that my straightforward approach to selling real estate is much appreciated. Give me a call at 319-400-0268 or drop me an email and put me to the test. It will be worth your while!
Originally posted at Cardinal Realty Iowa City
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