Selling your home quickly is often the best strategy for many buyers and sellers. Selling too quickly can lead to an emotional attachment to a home, which may cause you to miss opportunities in the current market. This emotional attachment often causes sellers not to be realistic about their expectations or provide a fair price for their house. Setting a high initial asking price can be antagonistic for buyers and may turn them away from your property leading to it sitting on the market indefinitely with little traffic. You can visit here https://www.sandiahomebuyers.com/ to see more.
Know the Market
A realistic appraisal of your home will help you gauge the marketability of your property. Set an asking price that is in line with the most competitive comparisons for similar homes in your area. Request a comparative market analysis from a licensed real estate agent to provide you with advice about comparable properties in your geographic area. Look for homes for sale that are comparable to yours and have sold within 90 days; these properties provide a good benchmark for the current market conditions and average selling prices.
Make a Comparative Market Analysis
List multiple comparable homes in your area and include the address, square footage, number of bedrooms and bathrooms, number of rooms per floor, number of garages, year built and bathrooms. The list should include all similar properties that have sold within 90 days. Get a real estate appraisal on each comparable home to determine their value. Calculate the difference in the value using a formula or by subtracting or adding numbers on the comparable list.
Average the Results
Make a new list of properties with the values averaged. Add up the costs of all improvements that have been made to your property since it was last sold or appraised by a real estate agent. If you have not added any improvements to your home, subtract the costs of any necessary repairs that would add value to your property.
Set a Comparative Market Analysis
Take the difference between your home and the average value of comparable homes in your area. Add this amount to the estimate of how much you will be asked for your home. Divide the total by 10 to get an estimate of how much you should ask for your home. Round up or down this number to make it realistic with today’s market conditions. Be sure to consider all expenses like mortgage payments and property taxes when calculating your true asking price.
