To help understand the process of coming up with a Market Value for your property in today's market, we must deal with many factors that are a "given" - that we have no control over such as:
Physical Qualities of Your Property:
-Location
-Age
-Size of Home and Size of Lot
-Floor Plan and Architectural Style
Market Conditions:
-Interest Rates and Availability of Financing
-Buyer Demand
-Prices of Recently SOLD Properties
-State of the Economy
-Seasonal Demands
The Competition:
-The Number of Similar Properties for Sale in the Area
-Their prices, financing terms, location, and physical condition
Some Factors have NO effect on the current value of your property such as:
-Original Price:
What you originally paid for your house
-Needed Proceeds:
the cash proceeds you want or need from the sale
-Opinions:
What other people say your property is worth
-The cost to re-build it today
*Overpricing loses interested buyers, attracts the wrong prospects, eliminates offers, helps sell the competition, and frequently results in selling the home for less than it would have sold for if priced right at the onset. It can also cause appraisal problems.
If your property is priced right, more Buyers will be interested when it first hits the market.
Since mortgages are based on Fair Market Value, not the Sale Price, more buyers will be able to consider your property when it is priced competitively.
The higher a property is priced above realistic market value, the more time it will take to sell and the less interest it will attract!
*We will review all of these areas in a personal Competive Market Analysis and help you evaluate current and up-to-date competitive pricing information that is readily available to us daily via the internet and our other sources to give you the best optimal pricing to get your home sold quickly in this market!
Call or email today for your Free Market Analysis! | |
