Home price is an art and I'm not just talking about how to price a particular property because that's almost impossible without all the other variables. Everything matters when it comes to price; size, location, school zone, market, time of year, even the day of the week to list all can factor into the pricing of a home. This is why I have always advocated for the experienced knowledge of a seasoned real estate professional. Most newbies just don't have enough time under their belt to properly price a home. This isn't to say they aren't good at what they do, but experience has really been the best teacher in this industry. We need to know how the market is not just now, but in a few weeks from now and how it was last month versus last year. All of these factors determine the right price. It's not just comparing similar properties then pricing it somewhere around there. What sold last month may not sell this month.
Take for instance the Memorial Day weekend; I saw a few homes for sale here or there then BOOM! After that weekend signs went up all over the place. Do you think the same seller will get the same traffic now that there is a lot more competition? And do you think that seller can get the same price? It's true that there are probably more buyers out there as well, but honestly, homeowners wait until after Memorial Day to list and buyers have been looking all along. Timing the market and pricing it correctly for the current market is strategic. What worked last month may not work this month and this is why nothing beats a well-seasoned agent that KNOWS the market.
Here are some more great tips and advice for pricing your home and of course, give me a call at any time to find out what your home is worth today and if that number could change in the next few weeks or months.
Should You Price Your Home As-Is?
If you're considering selling your home you might be wondering how much work you actually have to put into it to sell it. Well, I will give you the straight answer; nothing. If you want to sell your home you can do it right now without touching a thing. It's called selling "as is" and it's not super difficult to do so. But, here's the caveat, you're not going to get as much from your home as you could.
One Thing You Should Do When Selling a Property
Deep Cleaning is the one thing you should do if you want to sell a leased property. The best way to get a home rented to what will hopefully be long term tenants is to create an environment in the property where renters can imagine moving their belongings in and creating a life there. If all prospective tenants see is a home that is in okay shape but not great shape it can be difficult to find someone to sign that lease. A freshly deep cleaned property with neutral paint colors will help renters see the best side of a property and envision what living there could really look like for them.
Can You Accept Other Offers if You've Already Accepted a Contingent Offer?
"We want to sell fast but all we're getting is contingent offers? How does that work and do I have to accept them?"
This is a common occurrence, especially in buyer's markets. A contingent offer is typically referring to an offer a buyer has submitted that states they will buy the house once their own house sells first. Many buyers can't manage two mortgage payments so they must sell one to buy another. The offer may be great in the way of terms and price but the term contingent can make people wince, and it really shouldn't. Here's what's really going on.
10 Rules About Pricing a Home
When pricing a home, you should be within about 10% of the average sold price of other homes in your neighborhood. Appraisers want to see comparable sales so that your home can be valued at its asking price. Pricing your home for sale may be one of the most complex yet important selling points you can possibly make. There are 10 things to know about the cost of your home and how to price it.