Price It Right

 

Establishing the right price for your home is critical. Get a professional opinion from a REALTOR® who will provide a Comparative Market Analysis (CMA) that evaluates the market and suggests an appropriate pricing strategy.

Factors that impact the price of a home:

  • National real estate market conditions and trends.
  • Local and seasonal real estate market conditions and trends.
  • Available home financing.
  • Turnover or absorption rate of the homes for a sale.
  • Number of active home buyers in your price range.
  • Competitive homes for sale.
  • Comparable homes sold.

Problems associated with overpricing:

  • Houses on the market for a longer time often generate lower offers.
  • Often properties with longer "days on market" yield a lower "net".
  • Monetary loss and inconveniences to you can be significant.
  • Overpricing prevents the home's exposure to the right buyer.
  • Your home isn't seen if it is not in the buyer's price search criteria.
  • Your home may become "shop worn" due to days on market.
  • Low appraisals can affect the buyer's financing.

Homes usually sell at a fair market value. Pricing a home realistically will bring a faster sale, fewer inconveniences, and a greater monetary return.