Pricing To Sell | How much would you pay for your own home?
A good question to ask when pricing your home for the market. "Would you pay this price for your own home?"
Determining Your Home's Value
I was at a listing appointment recently. The sellers proudly gave me a complete tour of their home while they enthusiastically pointed out each and every change, modification and home improvement project they had done to the home since they purchased it many years ago.
The seller had precisely calculated and itemized every item on the list. They proceeded to tell me they had also done their homework and research about the local real estate market.
All comparable Homes that had sold in the neighborhood etc.
According to their calculations, their home was worth much more than the competition.
Of course I had done my own homework and calculations before the appointment. I had to personally see the home for myself before I made any final adjustments and pricing recommendations. By my calculations the home was worth much less based on comparable sales and market data.
According to my calculations, their home was worth about $50,000 less, not what they calculated.
I asked them if he would buy his own home at that price? He answered "NO! Of course not! I wouldn't pay that much!!"
Why then would you think that a buyer will pay that much?
So in conclusion, a good question to ask when pricing your home for the market. "Would you pay this price for your own home?"
About: Joyce Marsh Homes & Lifestyles is a Leader in Luxury and Waterfront Real Estate in the central Florida area. We work exclusively with home sellers and home buyers. Expertise in luxury home marketing. An award winning real estate professional with numerous certifications, experience and negotiation skills. Please contact Joyce Marsh at 386-299-8291 or JoyceMarshHomes@gmail.com
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