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.