Pricing Your Home to Sell!
Selling your house can be a very emotional experience. Depending on the circumstances surrounding the decision to sell, placing a value on a property in an ever changing market can be a challenge. While difficult to do, putting past markets behind you and accepting that they have little effect on price points in todays market will greatly benefit you in the sale of your property. Ultimately the value of your property will be dictated by the amount a buyer is willing to pay for the property, and if the buyer is financing the property, what the appraised value shows to their lender.
Pricing is dictated by the current market conditions and is largely dictated by closed transactions from the previous six months. Foreclosures are slowing and we are returning to a more stable marketplace, however that does not mean that the market has returned to the boom times of the mid-2000's. To price appropriately, we will need to evaluate all the facts about your house. The age, condition, style, neighborhood, school district, and proximity to local services, etc.. We will also have to consider how many other properties you are competing against. Ideally your asking price will be comparable to other similar properties in your area.
Seller know these facts, any real estate agent will tell them exactly the same thing. Countless articles and blogs have been written about this topic, but there is always that little devil on our shoulders that prods us in to thinking that our home is worth a bit more than the competition. As sellers we want to believe that there is a buyer out there who will love our home as much as we do and be willing to pay just a bit more to own it.
Here are a few other factors to consider. Buyers are very well informed. The information highway is a two way street. Buyers often are armed with a load of information via listing syndication sites and the use of mobile devices. They know what they are willing to pay for a property in any given neighborhood before they ever see a single home. They also know that markets are still in recovery mode and they are looking for a seller who is motivated enough to sell to them at a price they are willing to pay. Ideally a little below the competition, not above.
Conditions in the market today are ever changing. It is much more difficult for buyers to qualify for a loan to buy a home and appraisers are under a great deal of pressure from their lending partners to keep values stable. Sellers with unrealistic expectations will have little buyer traffic and are bound to be disappointed. There are far fewer buyers in the market and those that are tend toward the conservative. Pricing your home to sell will assure good traffic through your property and the likelihood of an offer being made from someone who wants to buy your property. Hard as it is, when you have made the decision to sell you need to put the emotions aside and be prepared to move forward when a fair offer is made for your home.
If you live in the White Mountains of Arizona and thinking about selling, give me a call. I have been working full-time in this market since 2002. I know the market and I know how to help you sell in today's ever changing marketplace.
I look forward to hearing from you soon.
Sandra Paulow, Associate Broker, GRI, REALTOR®
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Sandra Paulow, Associate Broker, GRI, SFR, REALTOR®
Aspen Properties, Inc.