Pricing Your Home to Sell

A successful pricing strategy is essential to obtain the highest amount of money in the shortest amount of time. Most showings occur at the beginning of a new listing cycle which is why it is important to price your home correctly from the beginning.

To find out what your home is worth, a licensed Real Estate Broker will provide you with a Comparative Market Analysis (CMA) which shows the prices of comparable recently sold homes, homes currently on the market homes, and homes that were on the market, but weren’t sold.

Here are 4 other time-tested strategies to help understand how much your home is worth:

1. Abandon your personal point of view.
Buyers care more about how they see using the home than about how much you paid for it or how many memorable moments your family shared there. It’s a shame, but true.

2. Do your market research.
You may talk to your neighbors to learn more about homes selling in your neighborhood. When you compare yours, consider location, size, amenities, and condition. BUT you should ALWAYS talk to a professional, like Joseph.

3. Consider RECENT upgrades.
Upgrades are an important consideration, but only if they’re recent. Major improvements can also benefit you, especially if they’re in the bathroom and kitchen, but be realistic about the present condition of the improvements. A 10-year old kitchen is NOT a new kitchen. Make a list of all improvements you’ve undertaken since buying your home and include, as an example:
– Major kitchen and bathroom improvements
– Building condition including windows
– New carpets and/or hardwood floors
– New paint and/or wallpaper

4. Consider market conditions.
Are apartments in your neighborhood selling quickly or languishing? Will your home be on the market in the strong home-buying season? Are interest rates attractive? Is the economy strong? Is it a buyer’s market or a seller’s market? Is the local job market healthy or are employees facing layoffs?

CONTINUE READING Little Improvements = Big Return

Contact Joseph R DeLorenzo – jdelorenzo@townrealestate.com or 646-244-8555