Homeowners that are looking for a new place to live or are relocating to another city will have to think about selling their current home first. There are a number of steps to getting your house on the market and into the hands of a buyer, and price is one of the most important elements of the sale. In order to price your home to sell while still providing you with a profit, it is important to conduct some research.
The most important piece of information to help determine your price is what comparable properties are selling for. You will want to look at a number of similar homes to see what the original list price was and at what price it sold. After that, you will want to take a look at your neighborhood sales. While not all the houses will be the same size or have the same amenities, location to desirable shopping, good schools and parks can add to your potential price. Foreclosures or other negative neighborhood aspects could drive your price much lower.
Many home sellers feel that they will start with a higher price in order to leave room for negotiations. This isn't always a good strategy, especially in today's market. If you price your home above the current market, it will remain unsold for some time. During this time, you are paying your mortgage, utilities, property taxes, and maintenance costs. These costs usually add up to more than the money you might make by listing at a higher price.
In a seller's market, homes that are priced aggressively will often yield multiple buyers and multiple offers. If you can get multiple offers, your home can often sell for more than what you ask for the home. When buyers compete against each other, you win.
Together, we could come up with a great pricing strategy to get your home sold. Give me a call.
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