Setting the proper asking price for your home is the single most important factor that will determine the success or failure of your home sales. The consequences
of making the wrong decision are painful. If your home is priced too low, you will literally be giving away thousands of dollars that could have been in your pocket.
Price it too high, and your home will sit unsold for months, developing the reputation of a problem property (everyone will think that there is something wrong with
it). Failure to understand market conditions and properly pricing your home can cost you thousands of dollars and cause your home not to sell … fouling up all of your
plans.
When pricing a home, it is important to evaluate every minute detail, and incorporate its worth or value into what the home is worth. You must personalize the
characteristics of the living conditions to enable an emotional experience when shown. Another important aspect of pricing to keep in constant awareness, is
price per sq. ft. Watch your CMA's and be sure to keep your listing price in close comparison to the surrounding activity. When turned on to the important numbers,
people will notice that the 4000 sq. ft. house next door is priced equal to a 1500 sq. ft. house because the average sale price is $500,000. Just keep in mind that
even something like a nice shade tree in the yard could sell a home, if it is worth what they are paying to enjoy it.
Chad Frank
Ventura Co. Real Estate
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