What’s my home worth?
“Asking prices are fantasy. Selling prices are facts.”
Have you have ever met a seller that wanted to under-sell their home? Of course not. There are proven strategies to effectively pricing your home upon listing it for sale to assist you with ameliorating that risk!
First - avoid the dangers of overpricing! If you over price your house based on what you think it is worth or what you want for it rather than pricing it based on the comparable homes that have sold, you will never have to worry about giving it away…it won’t be selling anytime soon! Your asking price must be tempered by the reality of the market. Think of it this way. When a house debuts on the market, it has the most eyeballs on it (the most buzz) during the first few days and weeks. That is the precise moment in time when it is most crucial to get the price right, to generate the most possible interest as quickly as possible.
Second - when pricing, don’t think like a seller, think like a buyer. By looking at your home with buyer’s eyes instead of sellers eyes, you will be a successful seller. Few if any buyers rarely buy the first house they see, but rather they spend days, and months inspecting every house on the market in their price range. In fact, they become experts on house values in your neighborhood. Trust me that they will not squander their hard earned money on an overpriced house just to satisfy a seller’s fantasy asking price.
You can set any asking price you want but you won’t sell your house until a buyer agrees it is in fact worth what you are asking for it. The key to quickly selling your house for top dollar lies in setting a realistic asking price when you first put your house on the market.
Sale price not asking prices establish fair market value. By analyzing houses comparable to yours based on size, condition and location that have sold within the last 6 months you can then determine your asking price.
Don’t worry, the market won’t allow you to leave money on the table. By correctly pricing your home you create your own seller’s market in the midst of even a buyer’s market. This strategy puts pressure on buyers to perform quickly with a clean, and many times over asking, offer. This happens because the best selling prices are the result of buyers competing with each other. By giving your house the broadest exposure you can trust that market competition will force buyers into paying you top dollar. It works every time. Who knows... don’t be surprised if you get multiple offers as soon as your house hits the market.
