Arnold
CibbuanoPricing your property for sale
September 13th 2006 00:27
The single most important factor to consider when selling a house is the home price tag: how much your house is worth. These are a few ideas to keep in mind to help prevent you over or under pricing your property.
1. Look at every similar home that was or is listed in the same neighborhood over the past six months.
2. Pull history for expired and withdrawn listings to determine whether any were taken off the market and relisted. If so, add those days on market to these listing time. Look for patterns as to why these homes did not sell and the common factors they share.
3. If a property was not sold find out who the broker was, you may want to avoid commissioning them in the sale of your property if they have string of recent failures.
4. Appraisers don't like to deviate more 25% and prefer to stay within 10% of net square footage computations. If your home is 200 sq. metres, comparable homes are those sized 150 to 250 sq. metres.
5. n a seller's market, you might want to add 10% more to the last comparable sale. When there is little inventory and many buyers, you can ask more than the last comparable sale and likely get it. So that $150,000 home might sell at $165,000 or more.
6. In a balanced or neutral market, you may want to initially set your price at the last comparable sale and then adjust for the market trend. For example, if the last sale closed three months ago, but the median price has edged upwards of 1% per month, pricing at $154,500 would make sense.
7. Have a look at similar active listings in your area to see what buyers will see, tour these homes. Make note of what you like and dislike, the general feeling you get upon entering these homes. If possible, recreate those feelings of reception in your own home.
8. Compare original list price to final sales price to determine price reductions on previous property sales in the vicinity. You may want to make some adjustments for variances in amentities , land size, location, etc.
1. Look at every similar home that was or is listed in the same neighborhood over the past six months.
2. Pull history for expired and withdrawn listings to determine whether any were taken off the market and relisted. If so, add those days on market to these listing time. Look for patterns as to why these homes did not sell and the common factors they share.
3. If a property was not sold find out who the broker was, you may want to avoid commissioning them in the sale of your property if they have string of recent failures.
4. Appraisers don't like to deviate more 25% and prefer to stay within 10% of net square footage computations. If your home is 200 sq. metres, comparable homes are those sized 150 to 250 sq. metres.
5. n a seller's market, you might want to add 10% more to the last comparable sale. When there is little inventory and many buyers, you can ask more than the last comparable sale and likely get it. So that $150,000 home might sell at $165,000 or more.
6. In a balanced or neutral market, you may want to initially set your price at the last comparable sale and then adjust for the market trend. For example, if the last sale closed three months ago, but the median price has edged upwards of 1% per month, pricing at $154,500 would make sense.
7. Have a look at similar active listings in your area to see what buyers will see, tour these homes. Make note of what you like and dislike, the general feeling you get upon entering these homes. If possible, recreate those feelings of reception in your own home.
8. Compare original list price to final sales price to determine price reductions on previous property sales in the vicinity. You may want to make some adjustments for variances in amentities , land size, location, etc.
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