Pricing your home to sell

By
Real Estate Broker/Owner with Real Estate Partners, LLC B 21410

Pricing your home to sell is not an exact science, but it is an art. If you have an experienced Realtor, they'll tell you where you need to be, price wise. If the public preceives your price as being to high, nobody is in a hurry to buy it. If it is too low, you won't get your full value. Some sellers wnat to list high and then reduce. Bad plan! You've lost the initial exposure to the market. You won't get that back. When you reduce, that tells people that there may be something wrong with the home, or it was priced to high to begin with. There are all kinds of Home valuation apps out there. Most of them are worthless. DO NOT get your price from an app. Professional Realtors don't just look at the average market value in a subdivision. They have to analyze each home on a case to case basis. How much updating has the subject home had? What is the age and condition of the roof and appliances? Are there cosmetic issues inside or outside that could be a problem? What about the location and the lot? IS the home appealing from the street to the average buyer? Has the seller kept up with home Maintenance? A side note: It's a good idea to complete any maintence before your home goes on the market. If there is $2000 worth of cosmetic repairs that need to be done, the buyer will see it as $15,000. Happens all of the time. "I have an appraisal that shows the value of my home" Many times, these appraisals are spot on, but there are some factors that the appraiser will not consider, like undesirable wall colors, or an undesirable floorplan. Also, it depends upon the type of appraisal you have. Typically, refinance appraisals are higher than true market value. Also, if you live in a neighborhood where all of the other homes have typical appliances and you just spent $30,000 upgrading your kitchen appliances, the appraisal will not reflect the 30k that you spent. Now, indirectly, you'll get some of your money back, as the buyer will see the appliances and will pay closer to list price, or even over list, because they love the kitchen. Thanks for reading. Steve Houck

Posted by

The Judy Wahba Team at Real Estate Partners, LLC

Judy Wahba - Broker/Owner

Steve Houck - REALTOR-Partner
"The Judy Wahba Team"
Real Estate Partners, LLC

Business: 601-942-2683
Fax: 601-956-7618
E-mail: steve@stevehouck.com

Judy Wahba's QR Code

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Topic:
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marketing your home
pricing your home to sell
listen to your realtor

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