Pricing a home is always the most difficult part of the home buying and selling process. If a home is priced properly, is in great condition, and looks good versus the competition, it will sell! It is a beauty contest, and the numbers must also make sense!
As licensed real estate professionals, we prepare a comparative market analysis (CMA) to help our sellers choose a listing price. We analyze the market using competing homes, square footages, recent solds, tax data, other appraisals, and market trends. We do our homework! We also look at homes that were on the market and failed to sell to get a clear picture. Condition and upgrades factor into the equation. As agents who are working with buyers and sellers every day, we are tuned in to which features and benefits are in high demand and which are not.
We frequently get calls from appraisers who are gathering information for bank appraisals. We have seen most of the properties, whereas the appraisers have not. Banks do appraisals to determine market value, a similar analysis to what we do for pricing. A bank needs to be certain that a property’s value is there for the amount being loaned. Part of the real estate recession was caused by banks loaning more than a property was worth, which then resulted in many foreclosures.
In today’s real estate market, pricing is more important than ever!
We can do a free analysis on your home, or help you negotiate the right price on the home that you purchase! Just call or Email Cathi at The Lund Group …