Pricing Your Home To Sell in ANY Market isn’t rocket-science, yet so many people get it wrong. Today, when pricing a home it’s best to nail it straight out of the gate. No messing around. So, why not “test the market” with a high price? First, this method will add more time t the deal. Think about your house payment and the daily carrying costs. Add up expenses: mortgage, insurance, upkeep, taxes, etc and divide by 365 to see how much it costs to own that house while you fiddle with the price.
Pricing a Home for Max Profits
That’s what we are really looking for when we price a home to sell, isn’t it? We want to take all of that equity with us. There isn’t a lot of sense in leaving it behind.
Here’s how we start the process. We look at recently sold homes. We take notes. We look at what’s going on in the market right now. Then we compare the sold data to the active listing data. There’s normally a difference. This is important. What we want to do is avoid making the mistake of pricing your home to be in line with closed sales that took place half a year ago.
Think Like a Buyer
Buyers shop in a price range. It’s safe to say that most buyers don’t look back at sold data until it’s time to make an offer. They know that the homes on the market right now reflect the real-time market. That’s what matters most to them. That’s what should matter most to you too. You see, what we want to do is find the home most similar to yours. It should be in the same general area. It should be alike in condition. What we want to do from here is price your home so that anyone even considering that other house will have to look at yours too. That’s the key.