Is My Home Priced to Sell?
Pricing your home is both an art and a science. Achieving the optimal
price is the result of both objective research inter comparable properties and a gut
feeling about your property and the current market. The right price should:
| Attract buyers
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| Allow you to earn the most money possible
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| Help you sell as quickly as possible
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The simple fact is, price is the number one factor that most homebuyers
use to determine which homes they want to view. And its important to remember that,
although the price is set by you, the value of the home is determined by the buyer. Try to
avoid allowing your enthusiasm to impact your better judgment- overpricing is a common
mistake that can cost you in the end.
With that in mind, here are some reliable guides to use when pricing your
home:
Factors Affecting Your Asking Price
| How quickly you need to sell
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| The amount of competition in your price category and area
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| The availability, flexibility and affordability of financing
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| The sale prices of similar homes sold in your area during the past six
months to one year
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Factors That Should not Affect Your Asking Price
| The original cost of the property price is determined by today's market
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| Any investments you've made in improvements
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| The cost to build your home today
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| Emotional attachment
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| The opinions of friends and neighbors
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Problems That Can Arise From Overpricing
| You might help sell similar homes that are priced lower
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| Your home may stay on the market longer
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| You could lose market interest and qualified buyers
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| You might create a negative impression of the property
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| You could lose money as a result of making extra mortgage payments while
incurring taxes, insurance and unplanned maintenance costs
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| You may have to accept less money
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| A potential buyer may face appraisal and financing problems as a result
of the inflated price
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With a mix of real world experience and advanced training, Angela Burdick,
CRS, GRI has the tools necessary to compute the fair-market value of your home based on
both the marketplace and personal considerations like your must-sell date. Remember, the
right price is the key to a successful sale. So work with Angela Burdick, to price you
home accurately the first time. Would you like to get an approximate estimate on your
home? If so click here and fill out our easy form.
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