subject: Price My House Help For First Time Sellers [print this page] First time home sellers want to know How do I price my house? Advice from a realtor who is experienced in helping sellers with their first property sale can help you determine the best price at which to list your house.
The listing price of your home will be directly related many factors, including:
Local (and national) real estate market conditions;
The size, amenities and condition of your house;
The condition, amenities and reputation of your neighborhood, and
The availability of similar homes in your area
Many people automatically assume that their house is worth as much or more than it was worth when they bought it. Dont make this rookie mistake. It might be worth significantly more than you paid for it, or significantly less, depending upon a number of factors. Household renovations youve undertaken, neighborhood improvements, and an appreciating real estate market can all help to increase the value of your property, but a flagging housing market, large supply of properties for sale in your price range, unaddressed wear and tear on your house and the inexorable passage of time can all exert negative effects on the value of your house today.
An experienced realtor will help you establish a pricing strategy by performing a thorough assessment of your house and property along with a comparative market analysis to determine what comparable homes in the area are asking (and what theyre selling for). With this critical information you can discuss with your realtor the range of prices within which you might consider listing, and what you can realistically hope to get for your house. Then, taking into account your specific needs, you can nail down a listing price for your home. For example, if you have taken employment in another city and must relocate by a certain date, or youve purchased another house and dont want to carry two mortgages for very long, youll need to factor this into your asking price.
If you are in a hurry to sell your house, you may want to price your house more aggressively; your realtor can help you choose a number designed to sell your house fast without giving it away for too little. If you arent pressed for time, they can propose a fair price that remains competitive within your market. If you overprice your house you might turn away interested buyers and they might not come back three months later when youve had to drop the price.
Newly listed properties always draw the most interest; so you dont want to price your house so that it sits on the market for too long.
Pricing real estate is an art and a science, one that savvy realtors practice almost daily. Its all about supply and demand. Your realtor needs to have the experience and knowledge to find the tipping point between, "Hey, that's interesting," and "It's too good to pass up." So when youre asking yourself How can I price my house? The answer is; ask for help from a qualified professional your realtor!
