By: Juhlin
Youlein
Homes are an incredible investment. They not only become
the center of any home owner's life,
they are usually an amazing appreciating asset. In too many instances, a
homeowner will over value their home given their sentiment invested in it and
not accurately price the home. Other homeowners might be too lazy to really
discover its true value and just take the initial price they paid for their own
home and then through a markup on it. Neither method is very effective. Here
are six tips to help set an effective and sellable price.
The very first point of advice is to drop all sense of personal point of view and try hard to see the home from the buyer's perspective. The seller should never let themselves think about the worth it is to themselves; meaning valuing the memories, upkeep, upgrades, and any other thing they might find of personal value, but the seller should reset their mind frame, walk into the home with a clean perspective and see what the buyer is seeing. A realtor will also be able to counsel on how the home should be freshened up or slightly redecorated. Look at the realistic value the home has to offer to a buyer.
Second, a seller should get at least three different professional opinions. Realtors will give a free CMA or a comparative market analysis. The CMA will be free because the realtors will want the business of the seller. The realtors will get a relative price based on what the other homes in the neighborhood that are comparable to the home being sold or priced are selling for and give advice on how to price based on the analysis. Some realtors may suggest that a seller set a low price and bid up and others will suggest that a high price is set and bid down a bit.
The third thing a person may do to price their home is to go out and do their own research. Go to open houses and see what the other homes around are selling for. A price is based on what the competition is selling for, so seeing the competition is a brilliant way to set ones own price.
The fourth thing a person can do is measure out their homes square footage. Square footage does not determine the price but sets the base the price works up from. A 1500 sq ft. home will usually sell for less than a 2000sq ft home.
The fifth thing a person can do to get an accurate picture of what their home is worth is to look at what the current trends in the market are. If the housing prices market is on the downward spiral then the homes price probably should not be set at the most expensive price around. And of course the opposite is true if the housing market is on the way up.
Lastly, when making the agreements to get the home into escrow, a home seller could always find ways to meet the buyers needs and be compensated by keeping the overall price of the home a little higher.
The very first point of advice is to drop all sense of personal point of view and try hard to see the home from the buyer's perspective. The seller should never let themselves think about the worth it is to themselves; meaning valuing the memories, upkeep, upgrades, and any other thing they might find of personal value, but the seller should reset their mind frame, walk into the home with a clean perspective and see what the buyer is seeing. A realtor will also be able to counsel on how the home should be freshened up or slightly redecorated. Look at the realistic value the home has to offer to a buyer.
Second, a seller should get at least three different professional opinions. Realtors will give a free CMA or a comparative market analysis. The CMA will be free because the realtors will want the business of the seller. The realtors will get a relative price based on what the other homes in the neighborhood that are comparable to the home being sold or priced are selling for and give advice on how to price based on the analysis. Some realtors may suggest that a seller set a low price and bid up and others will suggest that a high price is set and bid down a bit.
The third thing a person may do to price their home is to go out and do their own research. Go to open houses and see what the other homes around are selling for. A price is based on what the competition is selling for, so seeing the competition is a brilliant way to set ones own price.
The fourth thing a person can do is measure out their homes square footage. Square footage does not determine the price but sets the base the price works up from. A 1500 sq ft. home will usually sell for less than a 2000sq ft home.
The fifth thing a person can do to get an accurate picture of what their home is worth is to look at what the current trends in the market are. If the housing prices market is on the downward spiral then the homes price probably should not be set at the most expensive price around. And of course the opposite is true if the housing market is on the way up.
Lastly, when making the agreements to get the home into escrow, a home seller could always find ways to meet the buyers needs and be compensated by keeping the overall price of the home a little higher.
Juhlin Youlien writes about Paradise Valley AZ
homes for sale and Fountain Hills AZ homes for sale and other real estate like
Glendale AZ homes for sale and Ahwatukee Arizona Real Estate.
source: Isnare.com
source: Isnare.com
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