The Price Is Right: Secrets toSelling Your Home Quickly
So you’re moving on. Even though you’vedecided to sell, putting a price on years of happytimes in your current home can be difficult.However, your first job as a new seller will be toset a sales price that’s just right.
If you price your home too high, itmay languish on the market formonths. If you price it too low,you won’t get a fair return on yourinvestment. Your real estate agent will do acomparative market analysis of houses that havesold recently in your neighborhood. This willestablish your house’s true market value.
Statistics show that a home priced within 5% ofits actual value is more likely to sell within 30days than is the same home that is overpricedby 10%.
For you, timing may be important. Are you amotivated seller who has already purchased andcan’t afford to carry two mortgages? Is it abuyer’s market, where homes sell quickly? Or isit a seller’s market with lots of neighborhoodcompetition? All these affect pricing.
So do major renovations. Your real estate agentwill know the value buyers will place on yourrenovations and be able to factor that into theprice.
Is yours a class A house on aclass C street? You may have tofactor that into your price aswell. No matter how perfect thehouse, location is a priority for most buyers. Thebottom line, then, is to listen to theprofessionals and price the house to sell.