COMPARABLES
- ACTIVES: First one must do a comparison of the homes in Gilbert for sale that are on the MLS as Active. These homes are your competition.
- PENDINGS: The study must also include the Pending homes in Gilbert AZ for sale. This doesn't tell you the sell price, but does offer a glimpse at how well the market is doing and how many sales should close next month.
- CLOSED: The third comparison is with the Closed listings. Those homes whose escrow has closed within the past 90 days. That will give you an indication of what your home should sell for in the current market.
- EXPIRED: These are the homes that did not sell. It's good to compare at what prices buyers were not interested.
The comp homes in Gilbert should be within your community, within 25% above or below the square footage of your home, and then adjustments should be made for the amenities and upgrades, such as pool, spa, larger lot, granite counter tops, recent updates, etc.
What every seller naturally wants is to sell at the price they feel is the value their home in Gilbert. However, that price is normally higher than the current market price, and does not work. Once a home is being considered for sale, the seller must become detached from the home and look at it as a "property" and see it from the buyers eyes. They must determine the actual market value from the comparables, and not from the personal opinion of the value of the home.
The buyers Gilbert real estate agent is going to be studying the same comps as the listing agent, so they will know the current market value of the home. If the home is listed at or slightly below the comps then it should sell in a timely manner. If it is priced too high, then it will take much more time, and probably several price reductions in order to make it attractive to a buyer.
If the home for sale in Gilbert happens to be in a declining market, then the seller will be chasing the market down and will end up with a much lower price than they would have received had they priced it at the current market in the first place.
For more information on Homes For Sale in Gilbert AZ, contact "Captain Bill" Travis
View Val Vista Lakes in Gilbert AZ in a larger map
Comments(0)