How Is My Home Priced?
Looking to sell? The importance of accurately pricing a home is paramount for a successful, timely sale. Properties that fall within market range generate more showings and ultimately sell faster. WK Real Estate relies on a variety of industry indicators, plus our expansive knowledge of the marketplace and individual neighborhoods, to price your listing to ensure maximum exposure.
3 Factors that can affect the price of a home.
1.Location. Location. Location.
Houses that are near cities tend to be worth more than ones in rural areas. Your house may be seen as more desirable if it's close to beautiful views, shops, restaurants, good schools, or access to major highways. Certain neighborhoods can demand a premium price (or even certain streets within a neighborhood), while homes that back to busy streets may be priced differently.
Location is one area where a local real estate agent can be a huge advantage – a full time agent who works in the market everyday will understand the nuances of specific areas in real time and be better able to price a home than an agent who works predominantly in a different area.
2.Condition.
Move-in-ready homes, tastefully remodeled homes and newer homes typically appraise at a higher value. Critical parts of the house, like plumbing, electrical, roofing, and appliances are less likely to break down and can generate savings for a buyer. Strong curb appeal and first impressions make a difference and can support a higher sale value.
3.Agent.
Is your agent experienced, knowledgeable and accessible? A great agent can make all the difference when selling your home. A good real estate agent can act as a guide helping you to understand the market, offer objective opinions and information, stand in your corner during negotiations and even be your rock during emotional moments. The market constantly changes, and you’ll want a full-time agent who can keep up with the micro market conditions of your house on a daily basis.
Although it may be tempting to price your home over a recommended value, keep in mind you want as many buyers as possible to see your house to get the best deal. You'll get the most showings when a property is new to market. Today’s buyers are educated and informed, and know when homes are overpriced. Buyers purchasing with a loan also need to consider the appraisal value of the property, as their loan will only cover market value.
By creating high demand for your home with a competitive price as soon as it goes on the market, you'll have the best chance of selling quickly and at the most advantageous price. There are a lot of factors that go into pricing your home so reach out to one of our agents today for a more detailed analysis or if you have any questions!