Pricing Your Home
If you are wondering what the best price obtainable for your property is
please consider the following:
It is important to recognize the difference between the factors that
do and do not affect your property's value.
Factors that do not affect your property's value:
- what you paid when you bought (or built) your house
- the cash proceeds you want or need from the sale
- what I (or another Real Estate Professional) say your property is worth
Factors that do affect your property's value:
- location
- size of home & lot
- style & layout
- age, condition, upkeep & renovations
- community amenities
- financing options & conditions
- number of Buyers
Buyers dictate the best price obtainable for your property: Buyers will engage in comparison shopping and will not pay more for one property than he or she would have to pay for a similar property.
A "Comparative Market Analysis" (CMA) details what Buyers are willing to pay in today's market. It is made up of the data from recent sales, expired listings, current listings & additional current market conditions.
Recent Sales - Demonstrates what Buyers have actually
paid recently for similar properties.
Expired Listings - Shows what Buyers have not been willing
to pay under current market conditions.
Current Listings - Focuses on other properties which are
now competing for Buyers' attention.