Pricing Your Home For Sale
At any point in time, there are several other homes for sale competing with your home. This is less true now in 2014 than it has been in the past several years. At present, we’ve seen year-over-year price increases and home prices are about 25% above what they were at the low point of the market in 2010, depending on the area. Whether or not your home is in Burbank, Toluca Lake, Studio City or any other greater Los Angeles area, buyers now no longer have the luxury of time — they need to make decisions and jump on houses quickly. However, this doesn’t mean that you can ask for lots more than your home is worth in today’s market. You must know what’s going on in your local housing market in order to price your home competitively and to attract the qualified buyer. Please also see 3 Ways Sellers Sabotage Their Sales.
I will help you determine the market value of your home by generating a written comparative market analysis, which will show you a range of prices being paid for homes in your area. We use data from sales of homes closest in size, closest in distance, and closest in time of sale to yours. These are the three most important “markers.” Then, we compare condition and amenities. By the way, this is the same way a bank’s appraiser determines value. We don’t usually use listing prices of homes that are currently on the market unless there is a special reason to do so; for example, a town home right across from yours that has the exact same layout and is getting many showings.
Yes, I will also help you stage your home for sale. Please also see my pages on preparing your home for showing and for marketing your home. If necessary, it may be a good idea to hire a professional stager.
We will also discuss other factors that help us determine the value of your home:
- Square footage of your home and lot
- Condition of your property, amenities and ambiance
- Buyer demand level for homes in your area and competition from other homes for sale
- Your motivation
- Availability of financing; FHA programs, etc.
- Interest rates (currently good)
Marketing Factors affecting the sale of your home: Who controls them?
|Marketing Factor||Who Controls?|
|Market Position (based on price)||Seller|
|Saleability/Appeal to Buyer||Seller|
|Marketing Program||(Agent/agents co.)|
In analyzing these factors, my goal is for you to receive the highest and best price for your home that the market will bear. Please also know that I make a personal financial commitment to every listing I take and every home that I market. For the latest news and my take on local area pricing, please check my blog at http://sfvrealestate.blogspot.com.