Determining What Your Home is Worth

Your home is a large investment. When selling this investment you want to get as large a return as possible. We will let you know how to be fully prepared to sell your home, from understanding market conditions to choosing a Realtor. A small investment of time & money prior to selling will normally give you a greater return on your investment.

Pricing your Property
What Factors Determine the Value of Your Home?
Market Determines Price
Benefits of Pricing Right
The Danger of Overpricing
Increasing Your Home's Value

Pricing your Property

The single most important decision you will make is determining the right asking price for your property. Once you've achieved a realistic price you can expect to sell your home for the best possible price in the lease amount of time.

What Factors Determine the Value of Your Home?

The market determines the true value of your home. You will only get what the market will bear. The following points should be considered to develop a competitive price.

  • Location.
  • Size.
  • Style.
  • Condition.
  • Community Amenities.
  • Financing Options.
  • Market Conditions (Is it a Buyer's or a Seller's market).

Market Determines Price

Remember, the market determines the price of your home, be sure you don't price your home based on the following:

  • How much you have spent on renovations or improvements
  • How much you need to get from the sale of the home so that you can purchase your new home.
  • How much you originally paid for your home.
  • How much you need to pay off your mortgage.
  • The cost to rebuild it today.
  • Sentimental value.
  • What anyone other than a trained Real Estate Professional says your home is worth.

Benefits of Pricing Right

  • Your property sells faster because it is exposed to more qualified Buyers.
  • The closer to the market value, the higher the price.
  • A well-priced property can generate competing offers.
  • Your home is more marketable.
  • Your home will be on the market for a shorter period of time, meaning less inconvenience for you.

The Dangers of Overpricing

  • Reduces the number of showings.
  • Reduces advertising response.
  • Looses potential Buyers.
  • Eliminates offers.
  • Helps sell the competition.
  • Can cause appraisal problems.
  • Extends market time.

Increasing Your Home's Value

Cosmetic changes can influence how quickly your property sells & at what price. Many cosmetic changes can be made with minimal expense. Yet, they can influence how quickly your property sells and at what price.