When we meet with Northwest Indiana Home Sellers and present them with a Comparative Market Analysis of home values in their neighborhood, sometimes the following handful of factors that sellers want us to consider in pricing their property come up in conversation..These Factors have NO IMPACT on the Value of Northwest Indiana Homes.
- "I paid x number of dollars $ for this home a few years ago! "If you bought your home at the peak of real estate market prices and there has been a depreciation in your area's home values since then, your home's current market price may be less than what you paid for it.
- "I need to NET at least $ (fill in the dollar amount) out of this home." Realistic pricing produces showings and offers - The Market Determines The Price not what you want to net from the sale. If you have cash advanced your net proceeds by pulling the equity out of your property (HELOC), you may even have to bring money to close escrow.
- "I put x number of thousands of dollars $ into Home Improvements - I want to get that all back." Your investment in the property was a choice in which the cost of improvements are most always more than the added value. Sometmes you can over-improve, depending on what is average for similar homes in your neighborhood.
- " MY blank (insert the name of someone outside the industry here) thinks my home should be listed for $ (Insert Price). Well intentioned people in your sphere of influence do not have access to locaL Multiple Listing Service or RPR Data. Only Licensed Professional Real Estate Brokers working FULL TIME in the industry have the most accurate finger on the pulse of their local markets.