Posted 4.26.12 @ 7:17
Pricing homes to sell correctly is so important when setting the price for your home for sale. When buyers look at your house often the most important factor is how much the house is going to cost and how much it’s actually worth. You don’t want to price your home too low or people will think that there’s something wrong with it; pricing it a little lower than it is worth is ok though, since people will usually keep bidding on it until it comes up to where it should be. Pricing a home too high can ruin your chances to get it off the market in the first couple of months and doom you until you find the niche home buyer who is interested in what you’re offering and has the money to back it up.
We Can Help!
You shouldn’t have to worry about comparative analysis and market reports, you should worry more about being hospitable and making prospective buyers feel welcome when they come for a viewing. Here are some tips for pricing your home to sell.
Housing Markets are Local, Not National
The first thing you have to realize is that each housing market is a microcosm; you’ll want to base your prices on local prices for comparable Oakville real estate instead of national real estate. Look at how long homes are staying on the market for each kind of house in Oakville, and how much each are going for. Knowing what’s being sold at what price is going to help you sell your home a lot faster.
Who is Buying Homes?
Ask yourself who is buying a home right now. Who do you need to cater to and who are you going to stage the home for? Is your neighbourhood geared more towards Baby Boomers who are seeking luxury homes or young professionals looking for sustainability and walkability? All of these things have to be taken into account before you try and sell your home.
What is Your Home Worth?
Knowing what your home is actually worth is important. Get a home appraisal to see the true worth of your home. When you put it on the market you can price it lower than it’s worth, but don’t go too far over. While bidding wars can bring it up to or above list price, price is a serious sticking point for many buyers. If you go too far over the true value of the home your buyers are going to walk before they even come to see the house.
Do You Need to Sell Now?
Selling now or selling later is what you need to ask yourself. Do you have to sell your house now if the market is down, or can you wait an extra month to hit the trendsters when they come out onto the market?
Don’t price yourself out of the market when you can get your home off the market by dropping it 1 to 2% off your asking price!