Price versus Value

By Rochelle Allison and the Rochelle Allison Real Estate Team

 

You've heard the news that homes values are up 14% over last year in the St Paul real estate market.  Now you're wondering, is it too late to list my home this year?  To answer that question, you have to ask, are there still buyers out there that want to buy my home.  The easy answer to that question is yes.  I know this because with all of my new listings, we have many showings in the first week or two before we get an offer.

 

So if you are seriously considering entering the St Paul real estate market soon, you have the important decision about setting the price of your home.  It's helpful to keep in mind that there is a difference between "price" and "value."

 

Price is the amount that a seller asks for their Twin Cities home -- it's that number at the top of the listing that tells the buyers what you think your home is worth, in comparison to the other homes on the market in your area.  The fact is, the price is different from the value.  Value is the amount the property is worth. The value is based on many factors, among them location (neighborhood and placement within the neighborhood), current market supply and demand, condition, special features of the property, and more.

 

 

 

You can't change the location of a home, nor the current Twin Cities Real Estate market conditions, however, by improving the property, a savvy St Paul home seller can increase the value of his or her property.  That is why the advice about the importance of improving a property before it comes to market are so on-target; deep clean the home, correct deferred maintenance items, clear out clutter, de-personalize, re-paint, re-fresh, re-organize.  Some elements of property value can't be changed, however a smart Twin Cities home seller can still materially raise that value, which is the real secret to fetching a higher price.

 

If you are looking to sell your home in St Paul or the Twin Cities area this fall, The Rochelle Allison Real Estate Team, St Paul and Twin Cities Real Estate Specialist team with Keller Williams Realty has a marketing plan that can start right now to help bring you top dollar. Call us today to get a free, no obligation market analysis of the value of your Twin Cities home!