Determining the Proper Selling Price for Your Home
August 20, 2016 9:33 am
Sellers want the highest price for their homes. But a seller’s desired price isn’t necessarily a buyer’s fair price. By looking at several factors, Levine Homes Real Estate agents can help with setting the sale price of a home fairly. First, it’s important to examine the areas that affect home prices.
Take a Look at the Neighborhood
There are many homes in any given neighborhood that are similar in structure, style, and layout. To find out how much a typical home is worth, it’s important to examine similar properties. If the house next door that looks like yours in a different color is going for around $200,000, then yours is likely to fall around that range, too.
The Time of Year Plays a Factor
The seasons actually affect the price at which homes sell. Although many people think that summer is the prime time to buy, it’s common to see prices rise at this time because of the demand. Most house prices tend to fall between October and March. Those hoping to net a higher return on the price of their homes should consider trying to sell during the warmer months.
Condition of the Home Is Important
Inspections can reveal a lot about the true market value of a home, and if the home condition is poor, the selling price is likely to drop. Homes in better condition will sell for higher prices. Property condition is also important. Sellers who are dissatisfied with the sale price due to the condition of the home may be able to perform home improvements to raise the price.
Know What the Market Is Like
If there is one thing that homeowners have learned since 2008, it’s that the market can make or break you in the sale or purchase of a home. Sellers should ideally sell in a seller’s market. The economy is currently still in recovery, but selling conditions are a sight better than they were seven years ago.
The Importance of Setting the Right Price
If you set the price of your home too low, you might lose money and get yourself in a financial rut. However, if you set the price too high, then it might be impossible to find a willing buyer. Assisting in appraising a home to sell is what we’re good at. Contact Levine Homes Real Estate at 310-796-9088 for assistance.
