Proper pricing is dependent on several factors:
Â the most important being recent comparable sales in your subdivision and/ or neighborhood
what is the current competition in the market
Â condition of your home, has it been updated
Â location of your property which affects the views
These factors can change rapidly, so a current market analysis on your home is crucial, to price your home correctly.Â Price it too low, you may loose some of your equity, or price it too high, you may loose potential Buyers.
The most common mistake is over-pricingÂ .Â This means your home will sit on the market longer. The longer your home has been for sale, the more the Buyers are inclinded to believe something is “wrong” with the house, and thus a low offer.
What you paid for the home
How you decorated your home.Â This feature only enhances a home’s desirability and will help to make it sell faster.
What you say your home is worth
What another agent says your home is worth
What the property appraiser says your home is worth
Â A sophisticated buyer is willing toÂ pay based on his comparison of your home with others currently on the market. Agents and sellers set listÂ prices, but buyers determine value!