Wednesday, August 10, 2005

Setting The Price of Your Home

Three Factors to consider in selling your home are location, condition and price.....and they are related.

Location- Your home's location definitely influences its value. Is your home in a quiet location or on a busy street? Are you closer to the Ocean? Are you within easy access to a freeway for an easy commute? Views, trees, landscape can enhance the value. You obviously have no control over location, but please do consider this when comparing your home to others that have sold in your neighborhood.

Condition - New homes have a marketing edge over older homes, because they are clean, shiny and come with no dirt created by someone else! But you would also be amazed at how much less a home can sell for that has a messy yard, interior, clutter etc. My goal is to give you pointers for marketing your home for top dollar with a minimum of expenditure for you! Please remember that you can increase value and decrease marketing time by making sure your home is in great shape.

Pricing - Your home must be priced in an appropriate range. A buyer comparison shops. While being subjective about it, you can still be guaranteed they are comparing amenities, likeability, location etc. to other homes in the same price range. You also have to consider that not only does a buyer have to be willing to pay the price you want, but an appraiser must also be able to substantiate it for the loan. This has become increasingly important especially for 100% financing offers.

Remember, the longer a home stays on the market, the more the buyers perception of its value diminishes. Try to get all you can for your home...."top dollar", but use practical valuation methods and thinking to keep your marketing time to a minimum.

Janis Calkins


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