Preparing to sell your home is a multi-faceted task. The decision to sell can be emotional with nostalgia attached to your current home and the excitement of looking forward to your next home. But when it comes to correctly pricing your home, you want to leave emotion out of the process. We’ve put together 5 tips for pricing your home correctly in the current market:
5 Tips for Pricing Your Home
Reduced inventory of homes for sale across the nation has resulted in a decreased average time for existing homes to be on the market. Nationally, homes are on the market for an average of 45 days. The “Seller’s Market” might tempt you to price your home on the high side, but keep in mind that buyers are savvy, educated and know what they’re looking for in their next new home. Pricing correctly for your area and the state of your home will help you sell more quickly, which ultimately, is the goal. These 5 tips will help:
- Do Your Research – Take a little time to use online tools like HomeValues.com to get an idea of what your home is worth. A little time spent looking at numbers for homes in your area and with similar features will help you get an idea of where to start. The estimates given from these online tools are general, but can get you started with a ballpark figure.
- Consult A Real Estate Agent – Using CMA’s or “comps”, an agent compares homes in the area that have recently been sold, to your home. Figuring in comparable features, upgrades, lot size, etc., they will help you establish a non emotional selling price for your home.
- Prepare Your Property – Adding a few “finishing touches” to your property and home can add to the appeal and the selling price. Depending on your timeline goal for selling, it may be worth it to look at your home through a Buyer’s eye and take a little time to freshen up the look before setting your price and listing.
- Get an Appraisal – If you’re unsure of the true value of your home or uneasy with the recommendation from your real estate agent, hiring an Appraiser will give you a very real number for what your home is worth.
- Be Open – Selling your home comes with many variables. Following the tips above will help you in pricing your home. But keep in mind that the housing market is ever-changing. This means you may find yourself in the midst of a bidding war, which would be wonderful, or you may have to lower your price to meet your timeline goal for selling. Be open and decide how flexible you’re willing to be with the price you’ve set.
Now that you’re ready to list your home, it’s time to think of your next new home. Whether you’re looking for a larger home to accommodate your growing family, or it’s time to downsize for your next phase of life, Tim Lewis Communities has the perfect new home for you. With communities throughout California and in Reno, our communities offer exceptional homes built to the highest standards with the best schools available in naturally beautiful settings that bring recreation and an active lifestyle right to your back door.
Contact us for more information. Call 916-783-2300 or click here.