REAL ESTATE RAMBLINGS
Pricing Your Home In A Difficult Market
By Lisa Van Dootingh: RE/Max Masters

What timing, you have decided to sell your house when the inventory of homes on the market is historically high. You might already feel a sense of foreboding about your chances of getting your home sold. While there are more homes for sale than buyers, this does not mean you are destined to stay on the market for months and months. Homes that are priced right are selling and they are selling quickly.

Often I meet sellers who have no idea how to price their home when putting it on the market. Gone are the days of “wiggle room”. In today’s market it is important to price your home close to what you will sell it for right in the beginning. This is a scary concept for many sellers who remember the days when you added 10% or more to the asking price to allow for reductions during negotiations. If you need to sell your home, you simply can’t do that in today’s market. There are so many homes for sale that buyers will pass over your home as being overpriced without even taking a look.

Three areas to consider when pricing your home are market value, location, and condition.The market value is what a buyer is willing to pay for your home. The truest form of determining market value is a 6 month or less history of homes that have sold in your neighborhood in similar condition, with similar features. This is called a market analysis and can be prepared for you by a licensed real estate professional.

Location speaks for itself. You have heard the old adage, location, location, location!Finally, condition is a big factor in pricing a home. If your home is in need of updates and repairs, you must account for this in your asking price. On the other hand, you can not inflate your homes value simply because you have maintained it. For example, a new roof, furnace, and windows will enhance the salability of your home, but it does not necessarily increase its market value.

It is critical that you get your home priced right the first time. The initial 2-3 weeks of the listing are the most crucial. If you aren’t getting calls or showings during that time you need to evaluate your price. You don’t want your listing to become stale. Now more than ever an experienced realtor can be invaluable to the seller. A licensed real estate professional can prepare a market analysis in helping you to determine the asking price for your home.

Do you need help with the sale and pricing of your home? I would love to help.

Contact me: Lisa Van Dootingh
Re/Max Masters
6049 Renaissance Place
Toledo, OH 43623
419-902-7184 Cell Or Email me at Isoldit4u@bex.net