Friday, October 2, 2015

Sellers Were Asking: Why Price is Key to Selling Your Home

The period of best opportunity for selling a home at a reasonable price is the first four weeks after it is put on the market.  Buyers who have seen most available listings are waiting for just the right house to come on the market.  If your house is priced right from the start, you are in the best position to attract the maximum number of buyers able to pay the price your home is worth, and to sell your home within your timetable.  If your home is priced right, buyers will take notice and you may end up with competitive bids.  If your house is overpriced, lookers are apt to wait until you decide to decrease the price, or, may opt to purchase another home they feel is priced with the current market in mind.  You may lower your price later, but by that time you will have missed many of the most interested buyers.  So, how do you set the right price?  Arriving at an asking price involves up to the minute research and experienced judgement.  Besides enlisting a Realtor's help in checking out the current real estate market conditions and financing trends, the basic steps include:
<     Measuring your home against similar neighbourhood homes that have recently been sold or are currently on the market.
<        Determining what features make your house stand out among others currently on the market.  After all, buyers are comparison shoppers.
<        Weighing the spending of a reasonable amount of money on cosmetic fix-ups that might enhance the marketability of our house and earn the highest possible sales price.

The right price is usually within 5% of market value (a constantly changing factor) and usually results in a fair dollar sale within a reasonable amount of time.  If we can help, please call.