Things to consider when pricing your home to sell
When listing your home here are a few of the things you should not consider when pricing your home to sell: What your neighbour says, what you need, what you want and what you paid. I know that sounds harsh but if you want your home to sell the only thing to consider is "What is the market value of my house?"
Factors that will assist you when pricing your home to sell are: What other similar homes in your area are listed at or what they have sold for.
As a Realtor I will supply you with a comparative market analysis (CMA). The analysis looks at similar homes in the area that have similar sq. footage, lot size, age of property, and other factors that are similar to your home.
When pricing your home to sell quickly it is imperative to price your home at fair market value from the beginning of the listing.
You may find the following statistics of interest to you when considering pricing your home:
•· Over pricing your property shrinks the prospective buyer pool by more than 50%.
•· A property priced at market value appeals to 60% of the buyer pool. 10% over market value only appeals to 30% of the buyer pool and once you get to just 15% over the market value the property appeals to none of the buyer pool.
•· The greatest opportunity you have to attract a buyer for your home is when it is a new listing.
Based on the above information it is easy to see how important pricing your home at market value is when pricing your home to sell.
For a free Comparative market analysis please give me a call.