The best way to sell your home is to ensure that you have it priced correctly.
What many people do not realize is it really doesn't make a difference what you feel your home is should be worth. The public will decide the value no matter what you think your home's value is. Over price the house and it will remain unsold until prices increase enough. In a declining area you simply will not be able to sell your house and in fact may lose more money because you did not price it correctly to start and now are chasing the market as it declines.
Here are some techniques for pricing:
* Do not go by what you paid for the property. Perhaps you move in three years ago and the local values were moving up at a fast rate, and since then things have started to slow down. Maybe homes like yours can are priced for less, and if you'll just waste your time waiting for prices to match yours.
* You can not decide your home's price on how much you spent on upgrades. A given area will support only a given value which means if you over improve the house you may never see those improvement reflected in the price of the home.
* Don't go by your tax assessment figure. Even in areas that look at full-value assessments, the amounts are rarely in line with what buyers are currently purchasing homes for.
So what is the best method to determine the price of your house?
By putting yourself in a purchaser's position.
Your local Realtor will be able to get his information for you and help determine the correct price. Does it compare with your house and if so in what ways and how does it differ? How long has it been on the market and did it have any proce reductions? What has sold in the area, and how what did the market value it at? What did not sell in the past year?
So your best bet is to get a CMA or Comparative Market Analysis on your home done by a Realtor. Most Realtor will do this for free, you may find it a real eye opener. - 17607
What many people do not realize is it really doesn't make a difference what you feel your home is should be worth. The public will decide the value no matter what you think your home's value is. Over price the house and it will remain unsold until prices increase enough. In a declining area you simply will not be able to sell your house and in fact may lose more money because you did not price it correctly to start and now are chasing the market as it declines.
Here are some techniques for pricing:
* Do not go by what you paid for the property. Perhaps you move in three years ago and the local values were moving up at a fast rate, and since then things have started to slow down. Maybe homes like yours can are priced for less, and if you'll just waste your time waiting for prices to match yours.
* You can not decide your home's price on how much you spent on upgrades. A given area will support only a given value which means if you over improve the house you may never see those improvement reflected in the price of the home.
* Don't go by your tax assessment figure. Even in areas that look at full-value assessments, the amounts are rarely in line with what buyers are currently purchasing homes for.
So what is the best method to determine the price of your house?
By putting yourself in a purchaser's position.
Your local Realtor will be able to get his information for you and help determine the correct price. Does it compare with your house and if so in what ways and how does it differ? How long has it been on the market and did it have any proce reductions? What has sold in the area, and how what did the market value it at? What did not sell in the past year?
So your best bet is to get a CMA or Comparative Market Analysis on your home done by a Realtor. Most Realtor will do this for free, you may find it a real eye opener. - 17607
About the Author:
Thanks for reading, for more information visits our sites at: Canada Quinte Real Estate and Lorne Park Real Estate
No comments:
Post a Comment