If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. You may be looking forward to moving up to a new home or facing the uncertainty of a major move across country. You may be reluctant to leave your memories behind or eager to start new and exciting adventures. Remember, we’re here to help you with any of your needs. Call or email us today!
Setting the Listing Price
In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood (which can be in the form of a printed list from us, or online search results that you’ve found yourself), buyers will determine which houses they want to view. Consider the following pricing factors:
- If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than others in the area. You may have told your REALTOR to “Bring me any offer. Frankly, I’d take less.” But in that list of houses, yours simply looks too expensive to be considered.
- If you price too low, you’ll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.
NOTE: Never say “asking” price, which implies you don’t expect to get it.
To determine the proper list price, contact me today and I’ll provide you with the following professional services:
- Furnishing comparable sales.
- Analyzing market conditions.
- Helping to determine offering incentives.
- Estimating your net proceeds.
Using Comparable Sales
No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours.
Also we can furnish data on sale figures for those “comps”, and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales we bring to you, along with data about other houses in your neighborhood presently on the market, is used for a “Comparative Market Analysis (CMA).” To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices.
This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by us and may include properties currently listed for sale and those currently pending sale.
In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn’t been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.
- New Program to Help Buyers Bypass AppraisalsMortgage giant Freddie Mac’s latest offering could save borrowers up to $500 in fees and speed up the closing process by 10 days.
- Mortgage Company Touts 8-Day ClosingsLending firm 360 Mortgage Group announces a new platform that promises to drastically reduce the average closing time of 43 days.
- 10 Cities Where Homes Are Getting CheaperHousing prices aren’t on the rise everywhere. In these cities, buyers have actually seen them drop in recent months.
- Where Millennials Choose to Live With ParentsIn these cities, nearly half of the young adult population is still bunking with mom and dad.
It is my belief that no programs or tools,however effective, can replace the individual agent who takes the time to listen and truly guide you through this process. I have been dealing in the residential and land sales field with over 20 years experience and am also an Associate Broker with Weichert Realtors. I work with local and national relocation companies to move families short and long distances. I enjoy working with both home buyers and sellers. I am certified by the Virginia Housing Development Authority to give first time homebuyer’s seminars for financial qualification to receive state grant money.
ABR, GRI, CRB, e-PRO
Licensed in Virginia and West Virginia