| How To Select The Best Price For Your Home |
 |
 |
 |
| Written by Tom Guernsey Tom van Dyk Tara Guernsey Quinn Lyons |
| Saturday, 05 December 2009 18:51 |
|
The best way to sell your property is to correctly price it when you first put it on the market.
The best way to sell your property is to correctly price it when you first put it on the market. What many people do not realize is it really doesn't make a difference what you feel your home is should be worth. The public will decide the value no matter what you think your home's value is. Over price the house and it will remain unsold until prices increase enough. In a declining area you simply will not be able to sell your house and in fact may lose more money because you did not price it correctly to start and now are chasing the market as it declines. Here are some do's and don'ts for pricing: * Do not go by what you paid for the property. Perhaps you move in three years ago and the local values were moving up at a fast rate, and since then things have started to slow down. Maybe homes like yours can are priced for less, and if you'll just waste your time waiting for prices to match yours. * Don't decide your home's price on how much you upgraded. A given area will support only a given value which means if you over improve the house you may never see those improvement reflected in the price of the home. * Do not go by your tax assessment figure. Even in communities that aim at full-value, the amounts are never in line with what buyers are currently spending. So what is the best method to determine the price of your house? Put yourself in a buyer's shoes. Is there anything else for sale in the area? Does it compare with your house and if so in what ways and how does it differ? How long has it been on the market and did it have any proce reductions? What has sold in the area, and how what did the market value it at? What did not sell in the past year? Your local Realtor will be able to get his information for you and help determine the correct price. So your best bet is to get a CMA or Comparative Market Analysis on your home done by a Realtor. Most Realtor will do this for free, you may find it a real eye opener. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Thanks for reading, for more information visits our sites at: Canada Belleville Real Estate and Lorne Park Real Estate |