A survey of home sellers recently discovered that 76% felt that that list price recommended by their agent was too low. The majority of sellers feel that their home is worth more-but why? It can be difficult for sellers to step back and take an objective look at their home-but that is exactly what needs to be done in order to list your home at a price that will sell.
The prime opportunity for selling your home is in the first two weeks after listing it. Buyers are excited and your home gets the most exposure and attention during this period. This time is your best chance for getting the best price for your home-this is when it is the most marketable. You want to a list price that will attract a lot of buyers. An overpriced home will simply sit-and the critical window of opportunity may be lost.
TIP: When deciding on a price to list your Capistrano Beach home, it helps to understand how real estate agents and appraiser will establish a value for your home. A Comprehensive Market Analysis is often used-the report utilizes and analyzes comparable sales in your area. Your home will be given added value for extra features, and features it lacks will be deducted from the value.
If comparable sales in your area suggest a declining market, then select a list price that undercuts the other available listings. This will drive more buyers to your home, and eliminate the unproductive "price reductions" strategy. You can price your Capistrano Beach home more aggressively if the analysis shows values going up-ensuring that you get top dollar for your property.
Because Capistrano Beach properties are in such high demand and the inventory is so low, a home that is priced right may receive multiple offers from many buyers. This will often result in a "bidding war"-which drives the price up and results in the seller getting a much higher sales price.
It can be tricky trying to figure out what the "right" list price should be-too high and your home sits on the market for too long and becomes stale. Too low and you may be leaving money on the table. An experienced, local Realtor can help you analyze the market data and help you to arrive at the appropriate list price for your home-and make sure your home sells fast and for top dollar.
Susan Gregory is a Realtor living and working in Capistrano Beach CA. She is an Accredited Buyers Rep, a Certified Negotiation Expert, A Certified Distressed Property Expert, and a Short Sale Foreclosure Resource Agent. Visit SusanGregoryRealtor.com for more information.