Pricing is one of the most crucial aspects of your marketing effort. Location, property size, style, age, physical condition, special features, and recent enhancements must all be considered in assessing your home’s value. Lisa Povlow can help!Contact Lisa Povlow
Work with Your Agent
Your agent, Lisa Povlow, is in the market every day. No one can offer you a better view of pricing and sales activity. Once Lisa is familiar with your home and its features, she can prepare a comparative market analysis and propose a listing price. As your Weichert Sales Associate, Lisa Povlow will thoroughly research comparable homes in your neighborhood and town. Recent sale prices, the current prices of similar homes, and even homes that didn’t sell and were taken off the market will all be reviewed for you.
Consider Market Conditions
Real estate markets are highly cyclical. While home prices have typically risen over extended periods of time, the road is sometimes a bumpy one. The price you will get for your home, and the time it will take to get it, depend to a great extent on the overall state of the market.
Weichert’s Price Trend Analysis
To analyze the data, Weichert has developed a unique tool called a Price Trend Analysis. It goes beyond the capabilities of a typical Comparative Market Analysis (CMA) by projecting local price trends. With our method, Lisa can factor in the many market influences that impact price, including supply of homes versus demand, how the local economy is faring, and home appreciation rates, to determine your home’s Fair Market Value.
Be Objective About Your House
It’s important to be objective about your home when setting pricing. Remember, it’s really not relevant what you paid or how much you love the property. The important consideration is what the market will bear at this time.
How Quickly Do You Need to Sell?
Setting real estate prices is not an exact science. A low asking price may generate a fast sale, while a bit of patience, and a higher listing price, may allow you to net a larger figure. It’s important to be honest with yourself about your needs when setting a price.
Is Your Home Overbuilt?
Generally, nicer homes yield higher sales prices. However, this relationship begins to diverge a bit near the top of the market. Buyers in the price range of the overbuilt home are generally interested in more upscale communities, while the typical buyer for the area cannot afford to pay a significantly higher price. If your home is overbuilt you may have to accept the fact that you won’t be able to get the price you think you should.
Don’t Get Emotional Over Pricing
It’s easy to get upset when pricing your house. After all, to you it’s a home, perhaps one where you lived for years and raised your children. But to a buyer it’s just another house for sale. Your agent’s job is to give you the facts and to help you decide on a price that is realistic based upon your home and your timing.