Your Home Value

Your Home’s Value

The primary determinate of your home’s value is the current market value within your addition.  Properties that have sold recently are the strongest indicators of value because someone was willing to pay the contract price for which they sold, and in a large majority of cases an
appraisal will have been performed justifying the contract price.  Comparisons can then be made with your home to determine if your home is in better or worse condition than the sold properties, and to determine if your house has features or amenities that are comparable, and then to determine a realistic price.

I will prepare a Comparative Market Analysis for your property, based upon properties in your addition that are similar to yours in terms of size, age, features and amenities that are either active on the market, under contract, or have sold recently.  This will give us a realistic idea of the value of your property, based upon the current market.

Properties that are currently on the market may or may not be appropriately priced.  If they are priced above the market, there will be fewer showings, and the usual pattern is for them to be on the market for a while, then eventually, the price will be reduced.  Unfortunately, while they have been on the market priced too high, potential buyers will have skipped over them and purchased other homes that were correctly priced.

The other problem with over pricing is that even if a buyer falls in love with the house and agrees to the above market price, when it is appraised for the lender, the appraisal value will almost certainly come in under the contract value.  The contract will then “bust”, and the marketing must start over.  The most productive time for marketing is when the property is fresh on the market, and that “prime” time will have been missed.

I will advise you of things you can do to make your house more marketable.  Often there are simple things that you, the seller, can do that will enhance your property’s appeal to buyers.

My ultimate goal in marketing your property is to get your property under contract, then closed in the shortest time possible for the most money possible and with the least stress possible for you.