Selling Your Home – Pricing
One of the most important steps of listing a home is pricing it right. Different markets dictate how a property should be priced. The market can fluctuate month to month, even week to week…it changes all the time. That is why it is so important to use a realtor who knows the market and what is happening. Generally, if you sell a home within 30 days of it going on the market, you will get the most money for your home. It is vitally important that you price your home right and know the nuances of the market.
Pricing a home well is based on lots of factors. In Bend, there are many different types of properties – those with acreage, custom builds, and production builds as well as other factors like views, schools and neighborhoods. Each of these factors will affect your home’s overall value. It is important to have a realtor help you factor all those items in to get the right listing price for your home.
Now for a word about Zillow. Zillow can be an amazing tool for real estate. It is a great search engine which allows you to see where properties are and learn some background information (although this isn't always accurate). But property value estimates are not consistently accurate on Zillow – sometimes they are close and sometimes they are way off. It is essential to have a human, instead of a computer algorithm, who knows what is going on in the market, knows the listed properties and has possibly even sold some of them, to determine your home value for you.
As the market continues to appreciate, it is more important than ever to have a professional help you price your home for the current conditions. Part of pricing is making sure your home will appraise. If a buyer is getting a loan to buy your home, the mortgage company may require an appraisal. An appraisal is performed by a third-party professional appraiser who determines the current market value of your home. There is a lot of information that goes into an appraisal, but the final number will ultimately determine whether the bank is willing to loan the offered sales price amount to the borrow. There are also times when even a cash buyer will request an appraisal. We want to make sure your home appraises and that you make it to the finish line getting the most money for your home.
Once we have your home priced right, it’s time work on Your Marketing Plan.