SELLING A HOME
Proper pricing and selecting a Realtor you can trust is the most important decision to be made when selling a home. Let my 30 years of Charlottesville real estate expertise streamline the process and protect your best interest. My objective is to determine the current market value of the property. “Market Value” is an estimate of the price a home will sell for in a reasonable period of time considering the current market trends, assuming the process is not affected by the undue stimulus (i.e., seller concessions, special financing, discount points, distress sale.)
I am guided by the following considerations which are reflected in the opinion of market value:
The current market value is determined on an “as-is” condition.
The current market value is determined by taking into consideration a “reasonable” period of time to sell the property on a cash, conventional, or FHA mortgage basis.
I do not use the “replacement cost approach” instead I will be looking at what the property will sell for in the current marketplace and how your property compares to the sales of other like properties in the last 6 months
Proper pricing is the most important decision to be made when selling a home. It is the most important factor affecting the final sales price and the length of time required to expedite the sale. Marketing surveys have showed that the practice of pricing high “just to test the water” is most likely an unfortunate waste of time. Similarly detrimental is the practice of leaving an overly broad range for negotiation between the asking price and that which is actually acceptable as a final sales price. Overpriced property is not seen by nearly as many prospective buyers as one that is more realistically priced.
YOU MUST HAVE A BUYER WITH WHOM TO NEGOTIATE BEFORE “ ROOM TO NEGOTIATE” CAN TAKE PLACE.
The dangers of overpricing your home-
You will lose the excitement that a new listing generates
You will lose the most qualified prospects
Overpricing helps sell other, more competitively priced homes first
Your home becomes stale on the market. Prospects may wonder why it has been on the market too long or if something is wrong with the property, even after you lower your price.
If you do get an offer, the contract may fall through due to appraisal problems.
You lose a strong negotiating position when your home is on the market a long time, both financially and mentally.
Finally the five marketing factors that influence the sale of your home – LOCATION, CONDITION, MARKET CLIMATE, FINANCING & PRICE