Thinking of selling your Coastal New Hampshire or Maine home? Then it's time you learned the importance of pricing—and how to price your home RIGHT!
If you want to price your home to sell while protecting your hard-earned equity, then here are some things to keep in mind:
Things That DO NOT Determine Your Home Value
1. What you originally PAID for your home
2. How much you NEED from your home
3. What you WANT from your home
4. What another REALTOR says it's worth
5. What an APPRAISER says it's worth
What's the #1 Rule of Home Selling?
The BUYER Always Determines The VALUE!
No matter what you want, think, or what anyone else says, the value of your home is determined by why a buyer is willing to pay for it in today's market. This is most typically determined by comparing your home to others currently on the market or that have recently sold in your location.
Homes Have a Short Shelf-Life
Your home will generate the most interest its first few weeks on the market. Buyers will compare it to similar homes using the "big four" indicators of value: location, square footage, style, and age.
If you overprice your home, buyers will quickly realize that competing homes are a better value and lose interest in your home. Buyers do not generally have a positive opinion of homes that stay on the market too long.
Value is ALWAYS Changing!
Remember, price is a moving target. That is to say, the market is always changing based on the number of buyers and sellers currently active. You can select the right price today, go to bed tonight, and wake up to a property that is now ovrpriced based on new listings or other market fluctuations. Being ready to adjust is key to finding success in real estate. Staying ahead of the changing market and strategically positioning your price against the competition is the only way to win at the Price is Right game!
Right Agent = Right Price
A good real estate agent will always be watching the market closely and advising you of changes to the market that may require some adjustments on your part. That's why finding the RIGHT agent is key to finding the RIGHT price for your home... and knowing that your home is in good hands.
If you're thinking of selling a home in Coastal New Hampshire or Maine, then it's time to contact Jim & Ann to find out what we can do for you, from pricing to staging to selling.