MAKING SURE YOUR HOME SELLS FOR MARKET VALUE
Selling a house is like finding a relationship - do not settle but keep your standards reasonable
Selling your home below value and losing money may be one of your biggest fears when you’re ready to put it on the market. Perhaps you are asking yourself, “What is the value of my house?” However, you should take certain steps to determine what your house is worth.
When it comes time to sell your home, you want to do everything possible to ensure you get top dollar for your property. By following these simple steps, you can help to increase the likelihood of selling your home at (or even above) market value.
Getting a Better Understanding of Market Value
Unlike popular belief, market value doesn’t depend on how much you spend on your mortgage, how much you like your home, or how many memories you’ve created there. It is the price that buyers are willing to pay for your home that determines its market value. You can expect your home’s market value to be influenced by the following factors:
The location
You can expect a higher value for your home if it is close to major highways and shopping centers.
Number of square feet
There’s no doubt that a larger home is worth more. 3,000 square feet of colonial space would command a higher price than 1,300 square feet of ranch space.
The latest updates
Do you need to make many improvements and upgrades to your home? A home that doesn’t need much updating will fetch a higher price.
The school district
You will be able to sell your home for more if the schools in your area are highly rated.
The season
During the summer, your home is likely to sell for more than during the holidays.
The number of similar homes in the area
A ranch may have a higher value than a colonial if there are hundreds of colonials to choose from.
Keeping an objective in mind
A home is a place where you feel a deep sense of attachment. Your property may seem more valuable than it actually is if you have lived there for several years or decades. Be objective when listing your home and don’t list it for what you think it’s worth. In other words, market value is what other people are willing to pay for your property, not what you are willing to pay.
It may take quite some time for your home to sell if you estimate its value too high. If buyers believe this, they may avoid even looking at your home because they will think there is something wrong with it. To attract potential buyers, you may have to significantly reduce your listing price and even lower it below market value.
Consider Investing In A Pricing Report
You can determine the market value of your home with the help of a pricing report from a reputable company. In addition to the Pro Pricing, For Sale By Owner provides three comparable homes that have recently sold in your area, three comparable homes that are currently on the market, and recommendations for repairs. There is also information on the neighborhood, estimated time on the market, and real estate professional comments.
In 5 – 7 business days, you can expect to receive your Pro Pricing report after a pricing professional visits your home. A report will be provided within 3 business days of your appointment if you choose the expedited service.
Price Your Home Strategically
It is not a good idea to list your home at this exact asking price if its market value is $205,000. It’s because most buyers search for homes in increments of $25,000 or $20,000, so this is what most buyers do.
In this case, buyers looking for homes in the $150,000 to $200,000 range will not see your home if you list it for $205,000. You may even be able to start a bidding war if you ask for $200,000 instead of $205,000, which will attract more buyers to the home.
Take advantage of our pro pricing report today
Setting yourself up for success begins with knowing your home’s value. Pro Pricing reports can help you sell your home quickly without losing any money if you’re getting ready to sell. Now is the time to get one!