Pricing tips for sellers
It’s no secret that we’re in a buyers’ market right now, and you have likely noticed home prices rising all around you. That is great news if you are ready to sell your home, but it is still important to choose a listing price based on fair market value and market conditions. Of course you want to maximize your profit, but pricing a home too high could hurt your sale.
Here are some factors that influence listing price:
- Comparables. Recent sales in your neighborhood, especially homes similar in size and style to yours, will impact your listing price. Be sure to note if those comparable listings include renovations or other amenities that your home does not have.
- Competition. If there are a lot of properties for sale in your area, you want to choose a price that is competitive. Listing much higher than the competition could hurt your chances of attracting buyers.
- Timing. How fast you want or need to sell should play a part in your listing price. Selecting a fair, but attractive, price can help bring in offers more quickly.
- Appraised value. Keep in mind that a deal could fall through if the sales price rings in higher than the appraised value, because the buyer’s mortgage loan will be contingent on that appraised value. If you are unsure of how your home will appraise, you can get an appraisal for a few hundred dollars – that investment could save you time and headaches down the road.
Data shows that “a house that is priced right will sell in about half the time of one that is overpriced.” So, it is in your best interest to price your home right the first time. Work with a skilled real estate agent who can help you navigate the art and science of pricing your home for sale.
If you are selling a home in Steamboat Springs, contact us using the form below. We would love to put our nearly 30 years of real estate experience to work for you.