Take a look at these tips on how to accurately price a home.
Pricing a home for sale is something that real estate agents are rigorously trained to do. So, when you’re the homeowner, knowing where to start can be the first of many hurdles. The most important factor in selling a home is choosing the right price. Numerous studies indicate that the longer a home remains on the market, the less it will sell for when someone finally wants to purchase. So, how do you price a home without undervaluing it and without dooming it to stay on the market? These factors play a significant role.
Condition of the market – The market has generally been improving for some time now. However, this does not mean that there aren’t any dips. If you are selling your home during a slow time, you will need to price your home more competitively if you want to move the sale along.
Comparative sold properties – Take a look at recently sold properties in your area that are similar to your current home. Since markets change quickly, it’s best to find comparative sales within the past three months. If you go back too far, you will see homes where a deal may have been made many months before it closed.
Fixtures and finishes – Buyers typically prefer a tastefully renovated home with neutral finishes and fixtures, rather than an unrenovated home that is stuck in the ‘80s. If your home isn’t updated, but all of the comparable houses online are, consider making some updates before listing the property, or you may opt to take a lower price.
Being prepared for a home sale or purchase is critical. Ensure that you know how to handle it by relying on the right real estate professionals. Contact the friendly team at Brighton Escrow to ensure that you get the dedicated, top-tier escrow service that you deserve.
