The Right Selling Price
Affects Your Bottom Line
When you're selling your home, the price you set is a critical factor in the return you'll receive. That's why you need a professional evaluation from an experienced Realtor®. This person can provide you with an honest assessment of your home, based on several factors, including:
- Market conditions
- Condition of your home
- Repairs or improvements
- Selling timeframe
In real estate terms, market value is the price at which a particular house, in its current condition, should sell within 30 to 90 days.
If the price of your home is too high, this could cause several things:
- Limits buyers. Potential buyers may not view your home because it appears to be out of their buying range.
- Limits showings. Other agents may be more reluctant to view your home because they know what the market value is so they do not want to waste their time showing an over-priced home.
- Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, "what's wrong," or "why hasn't this sold?"
- Lower price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price – sometimes several times. In the end, you'll probably get less than if it had been properly priced in the first place.
- Wasted time and energy. A bank appraisal is most often required to finance a home so even if you find a buyer willing to overpay for your home, chances are they will not be able to get the bank to finance their loan.
Make your home more appealing for potential buyers with these quick and easy tips.
- Trim bushes so they don’t block windows and cut down on light.
- Buy a new doormat.
- Put a pot of bright flowers (or a small evergreen in winter) on your porch.
- Put new doorknobs on your doors or polish old ones.
- Put a fresh coating on your driveway or get out the power washer and spruce it up.
- Edge the grass around walks and trees.
- Keep your garden tools out of site.
- Be sure kids put away their toys and clean up their rooms.
- Buy a new mailbox.
- Upgrade the outside lighting.
- Use warm, incandescent light bulbs for a homey feel.
- Polish or replace your house numbers.
- Clean your gutters.
- Put out potpourri or burn scented candles.
- Buy new colorful throw pillows for the sofa.
- Buy a flowering plant and put it in a window you pass frequently.
- Make a centerpiece for your table with fruit or flowers.
- Replace heavy curtains with sheer ones that let in more light.
- Buy new towels for display only.
- Put a seasonal wreath on your door.