Pricing Your Home

Properly pricing your home is one of the most crucial factors in making a sale. The right price is a balance between: the maximum amount the current market will bear, your competition, your home’s features, and your timeframe for selling.

So how do you determine the right price? The best place to start is a Comparative Market Analysis (CMA). This is a report that shows the listing and sales price of similar houses in the area. Additionally, the analysis includes houses currently on the market and houses that were on the market but never sold.

Other Factors in Pricing

The following factors also play a role in the value of your home:

• Current Market – Is today’s market a buyer’s market or a seller’s market? A buyer’s market means that housing prices are steady or dropping and there are several similar houses for a buyer to choose from. A seller’s market means prices are on the rise and there are few houses to be sold.
  
  
• Location – What are the tradeoffs and advantages of your property’s location?
  
  
• Features – Does your house have specific features that set it apart from other houses in the area, such as a spectacular view, all season porch, or vaulted ceilings?
  
  
• Condition of the House – Has the house been adequately maintained during your stay? Are there repairs that could make a difference in the sale of your home?
  
  
• Age of the House – Potential buyers will want to know the age of the plumbing, furnace, roof, appliances, etc. If anything has been replaced, this could add to the value of the property and the sale price.

Your Goals

Next, Donna will talk with you about your goals in selling the house. Everyone who sells a house has different goals that need to be considered, including:

• Is your goal to get the maximum sales price for your house? If so, are you willing to have your house on the market for many months?
  
  
• Is your goal to sell your house quickly? If so, are you willing to sacrifice some of your potential profits to sell more quickly?
  
  
• Would you like to establish a balance between selling your house quickly and selling at the top end of market value?

After considering the CMA information and factors described above, Donna will work with you to settle upon a listing price that makes sense in the current market and meets your needs.