Priced To Sell
Attracting buyers is the name of
the game. As a seller, you have two goals:
A) to get the most money possible
B) to sell as quickly as you can.
Be realistic. Price is the number one
factor that most homebuyers use in determining which homes to
view. Although the price is set by you, the seller, the value
of the home is determined by the buyer. Don't allow your enthusiasm
to warp your judgment and lead to overpricing - a mistake you
can't afford to make.
Here are some factors to consider -
recommended by experienced realtors at A/Real Estate Connection
- to help sell your home. This information is not all-inclusive
and does not replace the expertise provided by a realtor.
What Affects Your Asking Price?
Urgency. How quickly must you sell?
Competition.
Are there just a few or many
homes available in your price category and area?
Available
financing. Does your home come with an assumable loan that
is below today's rate? What are the current home loan interest
rates? What financing alternatives are available for your home
and area?
Competitive
Market Analysis. Do you know
what similar homes in the area sold for within the last six months?
Expenses. What are your selling costs?
What Doesn't Affect Your Asking
Price?
Original
cost. Your price is determined
by today' market.
Investment
in improvements. Potential
buyers will evaluate your home (i.e. wallpaper and carpet) and
may include the costs to remove or replace in their offer.
The
cost to build your home today.
A replacement value is determined for insurance purposes only.
Personal
attachment. Prudent buyers
purchase based on their emotions, not yours.
Neighbor's
claims. Don't listen to what
your neighbors tell you is the fair market value for your home.
Other homes in your neighborhood may not be as similar as you
think. Also the terms accepted by both the buyer and seller greatly
affect the sale price.
What Happens to an Overpriced
House?
You'll
help sell the competition.
Most buyers are competitive shoppers.
Your
home will stay on the market a long time.
Did you know that 80% of your potential buyers will see your
house in the first four to six weeks? If you don't sell them
then it takes approximately three months to replace them with
an equal number of newcomers.
You'll
lose market interest and qualified buyers.
Serious buyers use the value, quality and price of similar properties
as deciding factors.
A
negative impression is created. People
will wonder why your house is still on the market - They'll believe
something is wrong with your home.
You
(the seller) would lose money.
You may have to make extra mortgage payments as well as incur
taxes, insurance and unplanned maintenance costs. You (the seller)
may have to accept less money. Studies show that the longer a
house is on the market, the greater the discount off the list
price. Often a seller will accept less than fair market value
in order to sell because of an approaching deadline.
There
is the potential for appraisal problems. The
appraiser from your buyer's lending institution must agree that
the home is worth the asking price. If the appraiser believes
the price is inflated, the loan may not be approved.
Look to A/Real Estate
Connection When You Need Answers Fast...
As you can see, there are a multitude
of factors that determine the asking price of your home. Finding
this price yourself can be a long and difficult task. That is
why homeowners, like yourself, turn to A/Real Estate Connection.
A/Real Estate Connection has all the tools necessary to compute
the fair market value of your house quickly and accurately while
allowing for personal considerations (such as the date by which
you must sell). Your A/Real Estate Connection realtor can also
confidently answer your questions about listing, pricing and showing.
A/Real Estate Connection’s goals
are the same as yours:
to
get you the most money possible;
to
sell your home as quickly as you can;
to
make selling your home a pleasant and profitable experience for
you.
East
Texan homeowners and homebuyers trust A/Real Estate Connection
to help them buy and sell. A/Real Estate Connection realtors are
dedicated professionals.
When
only the best will do consult A/Real Estate Connection today!
Source:
Residential Sales Council
A/Real
Estate Connection
Margie Edgar-Sanford · Owner/Broker
409.787.4536 ·
mesanford@sabinenet.com
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