Your Home Will Sell Itself If You Price Properly

2 Apr

Your Home Will Sell Itself If You Price Properly

I’ll help you buy or sell your home in Louisville, KY. If you’re looking to buy a home, I’ll help you pick the right home for you. If you’re thinking about selling, call me and I’ll tell you what price you home is most likely to sell for. Click here to search a available homes on my website.

The 5 Keys to Properly Pricing Your Home
This week I wanted to talk about why it’s important to price your home correctly from the start of your selling process. I’ve talked about the importance of pricing correctly on numerous occasions, but I think right now as we experience the spring and summer surge in sales here in Louisville, I should probably remind you once more. Adjusting the price 15 to 30 days after listing will lose you valuable time and possible buyers.

  1. The Fresher Your Home, the Higher the Price: You will always get more money the longer your home has been on the market. Buyers will see that it is a fresh listing and will be competing to come and view your home.
        1. It’s similar to when a new iPhone or Playstation comes out: the price is always highest right when the product is released.

    price

  2. Buyers Shop Around: Just like at the grocery store or when you’re looking for a car, home buyers will want to shop around to find the best value available. If your home is properly priced and buyer see a great value in it, then you will have no trouble attracting buyers and selling for a good price.
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  3. Appraisal: If someone takes out a bank loan to buy your home, the bank will come out and appraise your property. If the bank doesn’t appraise for the contract price then you’re back to square one and you’ll have to start the process over again. My advice is to listen to the recommendations of your real estate agent when pricing and just be very, very careful.
    MainImage7
  4. Pricing Properly: Instead of fixating on a certain location, people are more worried about what kind of bang they’re getting for their buck. If a home is priced right, location doesn’t seem to be a huge obstacle for buyers these days.
    money
  5. Negotiation: If a home is not priced correctly, nobody will really consider making an offer on it. Just a few weeks ago when the federal government pulled billions of dollars out of their bond purchases, interest rates began to creep back up. People are getting qualified for a particular price and they are not wanting to shop all over the place, and as inventory dips lower and lower people don’t want to shop around. Homes are selling quickly on this market if they’re priced properly.

The final price of your home is always up to you to decide, but the smart thing to do is to let the market decide the listing price of your home. If you’re on the market and not getting any showings, or if you are getting showings but no offers, then these are both indications that you’re asking for too much.

 

If you’d like more information on pricing your home correctly, take a look at these other articles:

http://www.gaintheadvantage.com/sellers/settingprice.shtml

http://stevequanstromgroup.com/price-your-home-right/

http://www.royalgazette.com/article/20130516/REALTORS06/705169957

 

Otherwise, if you know anyone looking to buy or sell real estate in the Louisville area, then please send them down my way. I can be reached at (502) 220-4663 or email me at toddmartin@realtor.com.

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