Posted by admin on January 28th, 2007
Then refuse to listen to solid advice
If you aren’t getting many showings or offers - that’s a sign.
Most people think that if their home isn’t getting shown enough - it MUST be the agent’s fault.
Well, you shouldn’t blame your agent for everything. Sometimes, home sellers just aren’t paying attention. They’re not paying attention to their agent, the market or the buyer’s who are telling them they are just priced too high. In a word, it’s easy to get attached to the fantasy that somehow your house is worth more. Don’t be taken in by it.
First, you need to get a comparative market analysis of your house to see what other houses in the same neighborhood with similar amenities have sold for. Then, and only then, should you set a price. Don’t base it on what sold last year. Your comps have to be recent enough to give you a decent view of how the market is operating today. Otherwise, you could end up overpricing your house and an overpriced house won’t sell.
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Posted by admin on January 25th, 2007
Know what other homes have sold for and get an appraisal on your home.
The single biggest reason for sale by owner homes fail is
because the owner has set an asking price far above what other
houses in the neighborhood have sold for.
If you have your for sale by owner house overpriced, don’t rush out and hire a real estate agent to represent you thinking that he or she will sell your house for what you are asking. The first thing your real estate agent will do is order an appraisal and check comparable properties to see what other homes in your neighborhood have sold for recently. You should do the same.
You want to set a realistic price on your house. Otherwise, you may not even get any calls to show it. If your listing shows your house priced well above other homes in your area, potential buyers will not even call. That’s why it is important that you set the right price before you list your home.
There are two primary and very effective methods for arriving at the right price:
- Comparative Market Analysis
- Appraisal
Good thing for you that you can order both of these online.
See Also
- Tips On Pricing Your Home
Learn more about pricing your house right with a comparative market analysis or electronic appraisal.
Posted by admin on December 30th, 2006
Compare apples to apples and don’t list too high
So you are going to put your house on the market next week. Don’t be in too big a rush. You might underprice your home.
Most sellers are more in danger of overpricing their home than underpricing it. Historically, that’s what many home owners do. They are overconfident. They let their home sit on the market for too long at too high a price and when they finally discover they have priced themselves out of the market, it’s almost too late. Their best remedy at that point is to take their home off the market and relist it a few weeks later. That’s not a good strategy.
Many are waiting until next week to list. I suggest you wait until January the 8th and be careful. Expect an increase of listings friday the 5th. A smart agent will encourage you to list that day and have you take the weekend off. One purpose is to see if you get multiple offers.
That’s a worthy suggestion. See what the competition is doing. Most likely, the other home owners will be overpriced. But don’t list your house at the same price as other houses on the market right now. Proper market research includes a comparative market analysis that goes back six months and looks at house within a few mile radius of your property and of similar size and with similar amenities. That way, you are comparing apples to apples.
See Also
- Price Your Home To Sell
Get a CMA before you list your house in order to prevent yourself from overpricing or underpricing your property.
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