How to accurately price your home
To get the highest and best offer, selling your home, start with the price.
Selling your home? Wouldn’t it be awesome to know how to price your home perfectly? Pricing a home has no “written in stone” rules. So many things need to be considered and at best, it’s just an opinion, but a powerful opinion!
Note: There are many on-line pricing websites. They are generalized regional pricing and not intended to establish a price to sell your home and doing so is an expensive mistake!
Pricing your home incorrectly has two consequences.
1. If the price for your home is too low, you walk away with less money in your pocket.
2. If the price for your home is too high, it will result in no sale, costing you more in mortgage payments and upkeep. Additionally, when a home sits on the market for a long time, people avoid the home thinking something is wrong or the reverse, they think you must be desperate by now and you’ll attract offers below market value.
Either way, you don’t get full value!
DIY price your home. (Or, save time and call me)
To estimate the value of your home, several things need to be considered.
1. You must first know what others like it, have sold for in your area. This is the most accurate data for doing your estimate, because it is real dollars from real people, right now. Home values go up and down like a wave.
2. To accurately price your home you must also consider time. Due to the recent up surge in home values, up 20% from a year ago, appraisals can come in too low. Banks now, only want comparables going back 90 days to more accurately gauge a home’s value, because home values are controlled by supply and demand.
3. Additionally, consider other homes For Sale, in your area that are similar to yours. This is your now, competition. Note: Asking price may be make believe. It’s just a number, high or low. Do your due diligence to see if your competition is in the ball park. When comparing the competition, consider things beyond the size of the home and land. Factor in the home’s level of upkeep. For example, fresh paint, new roof, upgraded kitchens, baths, etc. Two structurally identical homes can have a great separation in home values based on the degree of upkeep.
To find home sales data, go here. Search for home’s sold in your area over the last 90 days. If there is not enough to compare, search for last 6 month’s, but never more than 12 month’s! If the best comparable is 12 month’s old, you can safely add 10% to the sold price.
Note: This link takes you off this website and redirects you to my MLS® sold homes landing page. For more details about a comparable home, you can go to your county appraisers website and get all the specific information about the home. Things like lot size, square feet, pool, bedrooms, fireplace, etc. for a more accurate comparison of home values.
Are you looking for a professional detailed opinion of price? Call me at 813.240.6054, or go here and fill out a form for a free Comparative Market Analysis (CMA). I’ll schedule a review of your home and return with this valuable free report.
Looking for a real estate professional or Realtor® to list your home? Call me now at 813.240.6054 and I’ll schedule a review of your home, estimate it’s current approximate value (CMA) and go over all the ways we market your home and why we should be your listing agent.
Not sure what to do? Ask your concern by filling out the floating Contact Us form and I or one of my team will contact you ASAP.
We specialize as seller’s agents in South Tampa, SOHO, Davis Islands, Channelside, Hyde Park, Sunset Park, Beach Park, Harbor Island, Westshore, Culbreath Isles, Culbreath Bayou, Bayshore Boulevard and Plant High School district homes. Specialty zip codes 33606, 33602, 33611, 33609, 33629. We are seller’s agents for the rest of the Tampa bay areas including: Westchase, Country Way, Citrus Park, Fawn Ridge, Carrollwood, Carrollwood Village, Old Carrollwood, Keystone, Odessa, Lutz, New Tampa, Seminole Heights, Wesley Chapel, Land O Lakes, Avila, Lake Magdalene, North Dale, North Lakes, Lake Ellen and Forrest Hills. Zip codes: 33613, 33604, 33603, 33614, 33612, 33624, 33618, 33556, 33558, 33559, 33625, 33626, 33635, 33634, 33544, 33543, 33549, 33548, 34639.