How to price a home accurately.
Pricing a home for sale is an art. It is something that real estate agents are trained rigorously at, so when you’re the homeowner, knowing where to start can be the first of many hurdles. The most important factor in selling a home is the right price. Numerous studies indicate that the longer a home remains on the market, the less money it will fetch when it finally does sell. So, how do you price a home without undervaluing it and without dooming it to stay on the market? These factors play a significant role.
The condition of the market. Generally, the market has been improving for some time now. However, that doesn’t mean that there aren’t dips. If you happen to be selling your home during a slowdown, you will need to price your home more competitively if you want it to move along quickly.
Comparative sold properties. Look at recently sold properties in your area that are similar to your current home. Since markets change quickly, it’s best to find comparative sales within the past three months. If you go back too far, you will see homes where a deal may have been made many months before it closed.
Fixtures and finishes. Buyers generally prefer a tastefully renovated home with neutral finishes and fixtures instead of an unrenovated home that is stuck in the ‘80s. If your home isn’t updated, but all of the comparable houses online are, you should face the fact you may need to update before listing the property or opt to take a lower price.
Being prepared for a home sale or purchase is critical. Ensure that you know how to handle it by relying on the expertise of a professional mortgage corporation. Contact Dean Rathbun when it comes time to finding the perfect plan of action to buy your home. We are happy to help you.