There are several steps to pricing a home for marketability. I like to take the following into consideration:
- Pricing of similar homes in the neighborhood or vicinity.
- Is there new construction within a few mile radius? If so, at what price?
- Value of current homes on the market and how long they've been on the market.
- Foreclosures or short sales- are there any? are they nearby?
There is one other thing that I try to do.
I like to wipe the slate clean.
I've visited some communities so many times that I already have preconceived notions about pricing.
Such data (qualitative as opposed to analytical) is helpful... but sometimes it's blinding.
Before you price your next home, try this experiment.
Visit your own neighborhood as if seeing it for the first time.
Pretend you're thinking of making it your home for the next ten years.
As you drive the neighborhood are you noticing things that had become invisible?
Familiarity has a way of eliminating from view the things your potential buyers will see.
... AND... can I ask you a favor? Tell me what you saw.
Happy home-pricing!
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Note: Above photo comes from the Wooster Collective, founded with the purpose "to showcasing and celebrating ephemeral art placed on streets in cities around the world."
Chuck, this is good! I think that sellers have a difficult time stepping back and evaluating in an objective manner. I generally go pretty much by the comps but know the neighborhoods fairly well.
So, a bit poetic are you?
Teri: I'm so glad you liked it. I saw a previous post of yours and hoped never to be in the category of posting something unworthy of comment... so fwoooooo... I'm a bit relieved you found content.
And about the poetry... can I admit to not catching the drift? My guess is the single-line sentence structure... am I close?
Yep, right on..............;-)