Setting the price of your home

There are three main factors that will determine whether your house will sell quickly or even sell at all. 

  1. Location
  2. Condition
  3. Price

The price of your house should not be dealt with lightly and, some sellers tend to put too much emphasis on the price and not the condition, ending up with a house that is overpriced for it’s current condition and market. 

There are several reasons why care and time should be part of pricing your home accurately.

  1. If a house is overpriced it will not sell or appraise.  If the house does not sell and sits on the market the listing becomes stale.
  2. If you list with a price that is too high with the intentions of reducing it later “just to see what will happen”, when the price is lowered it signals to buyers that is was and still is overpriced.
  3. If the house is priced to low, it will most likely sell quickly, to the detriment of your proceeds.

Some factors that effect the price of your home

1.   Condition:      A house that has been maintained and updated will   show better than a house that has been neglected and needs work.

  1. Location: This is something you can’t get away from.  If your house is in a desirable area it will sell more than a house in a less desirable area.
  2. Desirable amenities:  If the house has amenities that buyers desire and are popular in the marketplace, it will bring a higher price.

When setting the price it is important to have a real estate professional do a CMA (comparable market analysis).  This is a market comparison of prices in your general area.  Call us today for a FREE no obligation CMA.