PRICING YOUR HOME
Pricing your Savannah, MO house can be both an art and science. The best price for your home is a combination of objective research into comparable properties, and gut feeling about the market and your property. The key to pricing your home is knowing what the value of your home in Savannah should be. This will depend on a variety of factors – location, size, number and quality of rooms that can all affect the price you expect for it. The best way to establish this worth is by narrowing down what type and how many properties are in your area which have been recently sold or marketed at similar prices; researching comparable properties online with sites; using assessments from local agents who specialize in marketing homes around specific areas/neighborhoods etc.; understanding market trends e.g., whether there has been an increase or decrease in demand over time (in terms of volume) according to CoreLogic data; considering if any particular features make up more than half the total selling value, like views. However, these features could vary depending on location and other factors, so determining their true worth would require research about them specifically.
THE RIGHT PRICE SHOULD:
- Attract buyers
- Let you make the most of your money
A professional real estate agent in Savannah, MO can help you in your search for the best price. The most important thing is to set a realistic budget and stick with it. Other factors include location, condition of property, size/condition of backyard, curb appeal (the look from the street), potential upgrades if needed such as new roof or upgraded kitchen appliances. Your marketing strategy should also be taken into account when pricing your home in Savannah; choosing an area that will draw interest and putting up flyers around town will go a long way towards getting top dollar for your home!
It is a fact that price is the most important factor homebuyers use when deciding which homes to view. Remember that although you set the price, the buyer determines your Savannah home’s value. Try to avoid allowing your enthusiasm to impact your better judgment–overpricing is a common mistake that can cost you in the end.
PROPER PRICE IS IMPORTANT
- Selling faster and causing less inconvenience
- More buyers are at your disposal
- Response to Realtors(r), increases
- Increases the number of sign calls and advertising
- Attract higher offers
- Sellers make more.
It is important to compare your home with other properties in the area. Buyers will be comparing.
COMMON REASONS TO OVERPRICE
- Purchase in a higher-priced region
- Original purchase price too high
- Inadequacy of factual data
- Bargaining room
- Moving is not necessary
- Assessed Value
- Emotional attachment
- Family and friends’ opinions
DANGERS OF OVERPRICING
- The first few weeks will be the most active for your home. It is crucial to properly price a home and create urgency in the minds and hearts of buyers and agents.
- Buyers who have seen all the Savannah, MO homes within their price range are eagerly waiting for the “right” house to come on the marketplace. If a house is priced correctly, it will sell quickly.
- Do not start with a high price, and assume that you will lower it in the future. It may be too late to lower the price as interest rates will already have waned by the time you do.
- Appraisal problems are a major concern. Overpricing can result in loan rejections or lost time.
- Your home won’t be chosen for viewing even if it is more expensive than similar homes in the area.
- Savannah real estate agents and buyers become more aware of the lengthy exposure period and are often reluctant to offer their services because they fear that something is wrong.
- There will be fewer qualified buyers.
- You may be able to help others sell homes similar in price.
- Extra mortgage payments can lead to loss of money, as well as increased taxes, insurance and unplanned maintenance costs.
The ROLE OF A REAL ESTATE Agent IN PRICE FIRMING
A comparative market analysis (CMA), which compares the prices of Savannah, MO homes recently sold in similar locations, styles, and amenities, will be provided to you. To get to know your competitors, a CMA involves comparing homes that have been sold in the same area.
- Real estate is not sold at an exact price.
- We won’t tell your home what it is worth.
- Market value determines price.
- The factors that you control will determine the price.
- Marketing time
- Alternative financing options
- Exposure method
- Stay current with market trends and stay informed about the market activity for comparable homes.
- Estimate your net proceeds.
- Contribute to the determination of incentives
Savannah, MO real estate agents agents have no control over the market. They can only influence the marketing plan. Never choose an agent solely based on their price. Contact Stroud & Associates for a knowledgeable team of real estate agents who can sell your Savannah, MO home for the right price!