Fairbanks Realtors On How You Need To Price Your Home

Buying or Selling your home and not understanding how the listing price is determined is dangerous

. Here is a guideline to help you price it correctly.

There are a number of ways to determine your home's value. The first item is to disregard your view of your home's worth and start considering what it is worth to a prospective buyer.

I know that you might have put a lot into making your property your home and you feel that its worth a certain amount based on what you see as valuable. But remember, a buyer doesn't treasure or value what you do and they don't care about your financial situation or the wallpaper design (Tear that off by the way).

Your Realtor will help you determine how to "neutralize" your home color scheme and layout to appeal to the widest audience so that you don't lose a prospective buyer due to "personal preference" like the color of the walls. Especially when Paint is cheap compared to how much value it carries.

So secondly the comparative market analysis (CMA). Looking at this report will tell you what other homes with the same basic features and area have sold for. Make certain that you ask what factors affect the value the most and how those factors affect the value of the homes listed in the CMA.

Consider going to open houses in your area to learn how other homes compare to yours. Remember to look at other homes with the impartial eye of a buyer, not from the view of a current homeowner looking to sell. Using the price per square foot formula is a good way to compare your home to others. This should not be the only determinant, but it can be helpful in setting a fair asking price.

The curb appeal is important, if you can't get them on the outside, you will never be able to get them on the inside of the house. Mow the lawn, clear the clutter, touch up paint. Plant flowers if at all possible. Make sure you have colors that accent with each other so that it feels warm and inviting to a possible buyer.

Last but not least, add on options. submitting a lease-purchase agreement, a fast closing date, or even offering to help with financing really helps buyers. One example is a carpet allowance. If you don't install new flooring before you put your home on the market, then at least clean them to remove the personal odors and let the buyer decide what flooring they would like.

How this helps is that it gives the buyer options. They might use it to save some money on closing cost and elect to replace the flooring in the future when it is more economically feasible to them.

The added value to what the buyer needs can help final sales price stay close to listing price and keep the buyer from going somewhere else and buying another property rather than yours.

by: Ray Brasier.

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