Pricing your
San Diego home is both an art and a science. Achieving the optimal price is
the result both of objective research into comparable properties and
a gut feeling about your property and the current market. The right
price should:
•
Attract buyers |
•
Allow you to earn the most money possible, and |
•
Help you sell as quickly as possible |
The simple
fact is, price is the number one factor that most homebuyers use to
determine which homes they want to view. And it's important to
remember that, although the price is set by you, the value of the
home is determined by the buyer. Try to avoid allowing your
enthusiasm to impact your better judgment - overpricing is a common
mistake that can cost you in the end.
With that in
mind, here are some reliable guides to use when pricing your home,
all of which come recommended by the Council of Residential
Specialists - a select group of REALTORS® with significant
experience and advanced training in residential sales.
1.
Factors Affecting Your Asking Price
•
How quickly you need to sell |
•
The amount of competition in your price category and area |
•
The availability, flexibility and affordability of financing |
•
The sale prices of similar homes sold in your area during
the past six months to one year |
•
Your selling costs |
2.
Factors That Should not Affect Your Asking Price
•
The original cost of the property - price is determined by
today's market improvements |
•
Any investments you've made in |
•
The cost to build your home today |
•
Emotional attachment |
•
The opinions of friends and neighbors |
3.
Problems That Can Arise from Overpricing
•
You might help sell similar homes that are priced lower |
•
Your home may stay on the market longer |
•
You could lose market interest and qualified buyers |
•
You might create a negative impression of the property |
•
You could lose money as a result of making extra mortgage
payments while incurring taxes, insurance and unplanned
maintenance costs |
•
You may have to accept less money |
•
A potential buyer may face appraisal and financing problems
as result of the inflated price |
A
Certified
Residential Specialist Can Help You Price Right
With a mix of
real-world experience and advanced training, a
Certified Residential
Specialist has the tools necessary to compute the fair-market value
of your home based on both the marketplace and personal
considerations like your must-sell date. Remember, the right price
is the key to a successful sale. So work with a
Certified
Residential Specialist to price your home accurately the first time.
|