5 Factors that Don't Affect the Value of Your Home...
1. What you paid for your home does not affect its value. 2. The amount of cash you need from the sale of your home does not affect its value. 3. What you want for your home does not affect its value. 4. What a real estate agent says your home is worth does not affect its value.
5. What an appraiser says your home is worth does not affect the value.
The BUYER Always Determines the Value...
The VALUE of your home is determined by what a
BUYER is willing to pay and a seller is willing to let it go for in today's market, based on comparing your home
to others currently on the market.
Proper packaging and pricing are basic essentials
Attractive pricing and packaging are arguably the two most basic
essentials. In our current real estate market, the buyers have a lot of
choices. In many areas, the there's an overflow of homes on the market. Because no
two homes are the same, making that distinction between your home and
the dozens of other home out there for sale is key.
Buyers today are more value conscious than ever
Buyers often times look at homes in a
wide range of towns around the greater Portland area. Today's savvy home buyers are better prepared when they look at your home, their market knowledge and experience tells them quickly whether it
is priced correctly. The best agents with the best marketing will help you get top dollar, but nothing will sell an overpriced home.
Focus on pricing your home correctly
The single most harmful factor to significantly
lowering your final sales price is overpricing your home. Why? Studies show your home will generate the most
traffic and excitement during the first few weeks on the market. If your price is perceived as too high, you will
quickly lose this initial audience and find yourself relying only on the
trickle of new buyers entering the market each day. Also, when you overprice your
home, agents and buyers will use your home to justify the sale of
another property correctly priced. If you miss the target on pricing, it's critical to respond quickly to what the market is telling you with a pricing correction.
Getting the price right the first time
Coming on the market with the "right price" creates excitement, attracts more buyer showings and
always leads to a quicker sale at a higher price. Remember, price is a
moving target because the market is always changing based on the
motivation of the other sellers you're competing against. You can
select the right price today and wake up in the morning to a
property that is now overpriced based on new listings entering the
market and sellers who decide to reduce their price. The Gardner Team is always watching pricing closely. We are very in tune with the market trends and our expertise time again helps people like you get your home sold in record time.
Tips to establishing an asking price
Establishing that all important asking price is part
science and part art, and there are several things you should consider. Prior to meeting and discussing your needs in detail, here are five general suggestions...
Study past sales.
This is the starting point for any thoughtful and successful pricing
strategy; think of it as the "science" part. Take the time to study past
sale statistics for homes in your area and areas similar to yours. None
will be identical, of course, but having a clear understanding of true
market value is the first step in establishing your list price. The Gardner Team provides all of this data in our no cost - no obligation Home Value Consultations.
Do not confuse active listings with past sales.
Active listings have not sold. These active listings are your competition. It is
important to be aware of your competition's pricing as this is just an indication of what's going on in the local market - however, no two homes or circumstances are exactly alike so active listings around you are not the determining factor of what your home will sell for. This is why you should request a professional Home Value Request to be prepared exclusively for you by The Gardner Team.
Do not overprice because you have "time."
If the market is appreciating, this strategy may work, but if prices in
your area are unstable or declining, you may quickly find yourself chasing a market
and costing yourself a lot of money. In some cases, being on the high-side will cause your home to just sit. The Gardner Team is very in tune with market trends and can help you establish spot-on pricing to maximize the value of your investment.
Leave some room for negotiation, but don't overreach. No
seller wants to feel he left money on the table, and no buyer wants to
overpay. Your price should give both parties room to maneuver, but if it
is too high, you risk being perceived as unrealistic, and buyers will
pass over your home. Requesting a CMA on your home and discussing The Gardner Teams home marketing strategies is a good place to start when considering the idea of selling your home.
Think like a buyer. What
are the things that you value in a home? Is it a large yard, an updated
kitchen or a view? These are likely the same things that your buyer
values as well. The Gardner Team will talk with you about current buyer trends and how to position yourself to standout on the market. Yesterday's avocado green appliances is today's granite countertop.
The property on a busy street is a tougher sell than
the one with a green-space view. Your price should reflect how your home
compares to the others offered for sale - and while buyers will find objections to
any home, you'll be amazed how quickly objections
disappear when the price is compelling. The Gardner Team will arm you with the necessary information to make informed decisions. There are many advantages to working with The Gardner Team, call us today.
To know the correct price for your home, call Jason H. Gardner and put his years experience, trusted name and proven results to work for you! No cost - No obligation. Call