Pricing Your Home
The Carlin Team specializes in helping you realize the greatest profit possible when selling your home. As a professional REALTOR with over 30 years of experience, Doris Carlin prices homes every day and works hard to help you determine the top market value of your home.
When comparing properties within the same neighborhood, the following will affect market value:
- Location
- Size of house
- Conditions of house
- Age of house
- Numbers of bedrooms and baths
- Improvements and additions to house
- Parking
- Size and usability of the lot
The following may not affect market value:
- What you paid for the house
- Your remodeling costs
- What you think your house is worth
- What other agents say your house is worth
- What the tax assessor says your home is worth
- What an appraiser says your home is worth
Remember, your home is worth as much as the ready, willing and able buyer wants to pay for it. If the property has been on the market for more than 30 days with lots of showings and no offers, then it may be time to adjust the price as the market will not bear the current asking price. This is also true if there have not been many prospects coming to see it.
Some of the dangers of overpricing include:
- Many potential buyers will not even look, thinking it is out of their range
- Those buyers who do look are shopping by comparison and looking at your home may convince them to make a bid on a different property if it is not priced competitively
- Properties left on the market for extended periods of time usually become shopworn causing many buyers to believe something is amiss
- Overpricing tends to dampen the attitude of the other salesperson, making it less likely to be shown
- Overpricing lengthens market time, and invariably results in a lower selling price than could have been otherwise obtained