(C) Copyright 2004 - Kehoe Realty - Ivie Baker
Property to Sell
For Top Dollar
Pricing your home or property "Right" is an important when trying to get top dollar for your
hard earned investment. Often it is an emotional experience as well.
That's why it's important to remember that Houses are..............
No One will pay more for your house
than they will for a similar house
in a similar neighborhood, at this time.
Here are some things to consider before making that decission:
Why are you selling?
When would be your ideal target moving date?
What is your market like in your area at this time?
How many similar homes are for sale right now in your area?
What are the similar homes selling for, based on factual research?
What would your home appraise for, based on the SAME factual research?
These are all critical questions when deciding on the right price to list your home. If you
decide to over price your home at the begining, thinking that you can always come down in
price, you may miss out, simply because people won't look at your home.
|There are SEVEN FACTORS that affect the sale of your property:
5. CONDITION OF THE REAL ESTATE MARKET
6. CONDITION OF THE FINANCAL MARKET
* Homes in TIP - TOP Shape
Usually Obtain Top Price
* Homes in AVERAGE Shape
Usually Obtain an Average Price
* Homes in POOR Shape
Almost Always Obtain a Poor Price
|Your Property...................Pricing to Sell
|How soon do you want to sell?
The graph above shows approximately how many propects that view your home,
who may consider purchasing it. If you over price your home for todays market,
you are dramatically reducing your chances of producing a buyer.
Your real estate agent will base the value of your home on comparable
properties that have sold within the past two years. Usually there is some
research involved to come to this price. She/he will compare:
* The Location of the Home
* Total Sqaure Feet of Living Space
* Number of Bedrooms & Baths
* Basement, Crawl Space or Slab
* Type of Construction
* Age of Home
* Type of Land (Lot, Acres, Waterfront, Etc.)
After she/he compares properties, sometimes they can use the state equalized
value as a tool, but it's not always accurate. This is all based on factual
information obtained through other sales in the area.
Another thing to keep in mind: Appaisers use the same factual infomation to
appraise a home for a mortgage. If a home is over priced and a buyer does
happen to make an offer on the home based on obtaining financing, there is a
good chance that the home will not appraise out at the high price and a sale
could be lost.
Once an agent advises the seller of a good market price, it's up to the seller to
make the decission of how fast they'd like to sell the home, based upon the
FMV (Fair Market Value)
When you call a real estate proffessional to do a market analysis on your home, there may
be many factors to consider when deciding on a GOOD market price for your home.
Gladwin Real Estate Information