What Counts and What Doesn’t When Establishing a Sale Price

In Buyers, Homeowners, Real Estate Advice, Sellers by Doug Phelps

Four False Factors

 

Your home may be your castle, but to strangers/potential buyers as they traipse through, chances are they see things differently than you do.

Truly, it is extremely difficult for homeowners to emotionally detach themselves from the property and become reality based when setting a listing price. Here are four false factors that many sellers want to apply.

Recoup decorating dollars

The truth is, it doesn’t matter how much you paid to have those walls painted in a theme. Prospective buyers are wondering how much it will cost to repaint the walls. Hoping to recoup other remodeling dollars? It will depend on the project and the workmanship – shoddy work diminishes the value of your home.

Need a certain amount of cash out

The reality is that a buyer doesn’t care what you need. Buyers today have access to resources that can tell them if a home is properly priced. The fair market value of your property is determined by what buyers are willing to pay given their choices in today’s market.

What you owe

Your current mortgage balance has nothing to do with what your property is worth today.

Get as much or more than other neighborhood sales

Setting the proper list price does factor in recent area sales. However, no two homes are exactly alike, so it’s important to compare “apples to apples” as much as possible. One neighborhood home could have features you aren’t aware of which could substantially impact the market value of your home in buyers’ eyes.

Establishing a market price is a combination of science and art. Technology provides certain facts and figures; the art part is where my professional knowledge and knowhow provides value. Knowing how to adjust for differences and then create an individualized, comprehensive marketing plan to sell your property for top dollar and in the shortest amount of time.

The bottom line is this: You will be furnished with data for comparable area sales, and I will guide you in analyzing those stats to arrive at a suggested sales price range for your unique circumstances, the decision as to how much to ask for your home is always up to you.