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How to determine the correct house prices!

August 7, 2015 at 6:12 am Lisa Ross 2 Tips & Tricks

Whether you want to sell your house quickly or not, there are several basic factors you need to consider, essential steps to make and some vital tips to take into account to get you the desired result. Thus, you’ll avoid some of the most common mistakes and make things turn out just the way you want it. No need to worry, here is what you have been searching for!

Even though, getting an appraiser is a serious consideration, you might also need to read the following tips too! This will surely make your life a lot easier, while setting correct house prices will not appear that difficult anymore.

Top tips to get attractive house prices!

You can learn how to do it the right way too! Here is what you need to know…

  • Your real estate agent is your advisor!

There is no need to state that once you have chosen to work with a real estate agent you also have to trust him/her. Based on solid evidence he/she will provide a general overview of the entire scene, but also advice and support that you should carefully analyze. Keep in mind – your real estate agent is your consultant, advisor and specialist that will work in your best interest.

  • Not too high, not too low

homes for saleDo you still have doubts why the list price can affect the transaction? Here is the obvious explanation: Pricing your house too high and your property will stay months in a row on the market without anyone being realistically interested in buying it; pricing it too low and you might regret later on that you’ve sold it too cheap! So, setting your listing price requires your attention, research and thorough thought if you don’t want to run into these situations too.

  • Compare, compare, compare!

Key rule – every buyer out there will analyze all the available choices before making an offer. Therefore, even though your house is extraordinary in your own vision, don’t get too far with your pricing. Stay within the limits of your property’s market; it’s true your home would probably value more if situated in another country, in another neighborhood or in some other environment, but this is completely another story… Otherwise said, the buyer will take into consideration similar properties and will eliminate those priced too high.

  • CMA is essential

Without an informative CMA (Competitive Market Analysis) and an attentive study, you are probably on the right way to experience failure. A CMA will point out similar properties on the market that are currently listed (your direct competition), but also those properties which haven’t been sold yet due to various problems. This will help you learn from the mistakes others made.

However, a CMA is not useful unless it comes together with the knowledge of an experienced real estate agent. Thus, you need to carefully set the listing price taking into account both the CMA and also your agent’s advice. Where do you get this CMA? Your real estate agent can give it to you.

  • Get it right from beginning

There is no room left here for mistakes – you need to set the proper price from the start. In other words, if you set a price too high and then lower it every month, the scrutinizing buyer will feel something is not right and probably lose confidence and forget about your property! So, don’t make this all too common mistake…

Factors to consider when setting house prices!

To make matters clearer, take into account the main factors that influence your price range: similar homes in your neighborhood, the state of the market, the location, the condition of the home, the features, the updates, the school district and so much more.

All in all, keep in mind – the price is one of the main factors that will influence whether a house will sell or not!

Lisa Ross

A former head writer for some of the most successful online magazines, Lisa Ross is the official writer of Tour Wizard. Widely regarded as one of the most prolific authors in today’s online world, Lisa came as a surprise for her audience often providing controversial points of view. She is considered one of the preeminent writers on real estate topics, who is also the fount of creativity and innovation for editors worldwide.

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