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Am I Priced To Sell?

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Attracting buyers is the name of the game. As a seller, you have two goals:

  1. To get the most money possible.
  2. To sell as quickly as you can.

       Be realistic. Price is the number one factor that most home buyers use in    
       determining which homes to view. Although the price is set by you, the
       seller, the value of the home is determined by the buyer. Don't allow your  
       enthusiasm to affect your judgment and lead to overpricing, a mistake you
       can't afford to make.

       Here are some factors to consider recommended by experienced residential
       specialists to help you sell your home. This information is not all-inclusive
       and does not replace the expertise provided by a qualified real estate
       professional.

   

What Affects Your Asking Price?

  • Urgency. How quickly must you sell?
  • Competition. Are there just a few or many homes available in your price category and area?
  • Available Financing. Does your home come with an assumable loan that is below today's rate? What are the current home loan interest rates? What financing alternatives are available for your home and area?
  • Competitive Market Analysis. Do you know what similar homes in the area sold for within the last six months?
  • Expenses. What are your selling costs?

What Doesn't Affect Your Asking Price?

  • Original Cost. Your price is determined by today's market.
  • Investment in Improvements. Potential buyers will evaluate you home (i.e. wallpaper and carpet) and may include the costs to remove or replace in their offer.
  • The Cost to Build Your Home Today. A replacement value is determined for insurance purposes only.
  • Personal Attachment. Prudent buyers purchase based on their emotions, not yours.
  • Neighbor's Claims. Don't listen to what your neighbors tell you is the fair market value for you home. Other homes in your neighborhood may not be as similar as you think. Also the terms accepted by both the buyer and seller greatly affect the sale price.

What Happens to an Overpriced House?

  • You'll Help Sell the Competition. The "correctly priced" homes look even better if yours is overpriced. Most buyers are competitive shoppers.
  • Your Home Will Stay on the Market a Long Time. Did you know that 80% of your potential buyers will see your house in the first four to six weeks? If you don't sell them then, it takes approximately three months to replace them with an equal number of newcomers.
  • You'll Lose Market Interest and Qualified Buyers. Serious buyers use the value, quality and price of similar properties as deciding factors.
  • A Negative Impression is Created. People will wonder why your house is still on the market - they'll believe something is wrong with your home.
  • You (The Seller) Would Lose Money. You may have to make extra mortgage payments as well as incur taxes, insurance and unplanned maintenance costs.
  • You (The Seller) May Have to Accept Less Money. Studies show that the longer a house is on the market, the greater the discount off the list price. Often a seller will accept less than fair market value in order to sell because of an approaching deadline.
  • There is the Potential for Appraisal Problems. The appraiser from your buyer's lending institution must agree that the home is worth the asking price. If the appraiser believes the price is inflated, the loan may not be approved.

Look To a Qualified Real Estate Professional When You Need Answers Fast!

As you can see, there are a multitude of factors that determine the asking price of your home. Finding this price yourself can be a long and difficult task. That is why thousands of satisfied homeowners, like yourself, turn to a residential specialist. A residential specialist has the tools necessary to compute the fair market value of your house quickly and accurately while allowing for personal considerations (such as the date by which you must sell). Your residential specialist can also confidently answer your questions about listing, pricing and showing.

A residential specialist's goals are the same as yours!

  1. To get you the most money possible.
  2. To sell your home as quickly as you can.
  3. To make selling your home a pleasant and profitable experience for you.

When you want to price your home to SELL FAST... Turn to a qualified real estate professional!

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The data relating to the real estate for sale/lease on this web site come in part from a cooperative data exchange program of the Multiple Listing Service (MLS) in which this real estate firm (Broker) participates. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of REALTORS® an its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

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