When selling a home every owner is looking for the best price and terms possible. Many factors will impact the price you will get for your home; market conditions, qualifying thresholds and interest rates. The goal is to get the best price with the most advantageous terms in the shortest period possible. As much as we would like there to be a certainty in determining the price in Real estate, there is no magic formula. The value of your home will be based partly on sales data, partly on timing and partly driven by emotion. Each transaction is as unique as each buyer and seller involved.
What Is Your Home Worth?
All homes have a price - often more than one -the sellers desired price, the buyers offer, and the price that both parties eventually agree upon.
Important factors to consider when setting your list price:
- The value of similar homes that have recently sold in your area.
- Supply and Demand – are you in a buyers' market or a sellers' market.
- The economic status of the area – is your community thriving and expanding or are people moving away?
- Be wary not to confuse seller's wants & needs with property value. Property value is independent of the seller's circumstances and is based on market activity. This is not to say that an owner should not pay attention to their needs as it could impact their ability to successfully close in the current market.
- Price is not EVERYTHING – the terms of a deal can be just as important as the price. Consider a purchase price of $300,000 that closed in 30 days with no conditions vs an offer of $310,000 that has several conditions including the sale of a buyer home condition. The first offer is more certain and does not include carrying costs which could add up quickly.
Don't Go It Alone.
As an experienced professional I will provide
you the relevant and current information
you need to determine a competitive and
fair price for your home.
I will also ensure that you have a solid
understanding of why pricing properly
from the beginning is always the best approach!
