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Anne Connolly


Broker Associate




Tel: (970) 241-4000    Cell: (970) 250-3500    Fax: (970) 241-4015    Toll Free: (800) 777-4573    Email Me

Am I Priced to Sell?

If you have any questions or would like more information about pricing your home to sell please Contact Us. If you would like more information about buying or selling a home or property please visit our Buyers Page or Sellers Page.

Attracting buyers is the name of the game, As a seller, you have two goals:

  1. To get the most money possible

  2. To sell as quickly as you can.

Be realistic. Price is the number one factor that most home buyers use in determining which homes to view. Although you set the price as the seller, the value of the home is determined by the buyer. Don't allow your enthusiasm to warp your judgment and lead to overpricing - a mistake you can't afford to make. Here are some factors to consider - recommended by experienced REALTORS® - to help you sell your home. This information is not all-inclusive and does not replace the expertise provided by a REALTOR®.

 

What Affects Your Asking Price?

    • Urgency. How quickly must you sell?

  • Being Priced to SellCompetition. Are there just a few or many homes available in your price category and area?

  • Available Financing. Does your home come with an assumable loan that is below today's rate? What are the current home loan interest rates? What financing alternatives are available for your home and area?

  • Competitive Market Analysis. Do you know what similar homes in the area sold for within the last six months?

  • Expenses. What are your selling costs?

     

What Doesn't Affect Your Asking Price?

  • Original Cost. Your price is determined by today's market.

  • Investment in Improvements. Potential buyers will evaluate you home (i.e. wallpaper and carpet) and may include the costs to remove or replace in their offer.

  • The Cost to Build Your Home Today. A replacement value is determined for insurance purposes only.

  • Personal Attachment. Prudent buyers purchase based on their emotions, not yours.

  • Neighbor's Claims. Don't listen to what your neighbors tell you is the fair market value for you home. Other homes in your neighborhood may not be as similar as you think. In addition, the terms accepted by both the buyer and seller greatly affect the sale price.

     

What Happens to an Overpriced House?

  • You'll Help Sell the Competition. The "correctly priced" homes look even better if yours is overpriced. Most buyers are competitive shoppers.

  • Am I Priced to Sell?Your Home Will Stay on the Market a Long Time. Did you know that 80% of your potential buyers will see your house in the first four to six weeks? If you don't sell them then, it takes approximately three months to replace them with an equal number of newcomers.

  • You'll Lose Market Interest and Qualified Buyers. Serious buyers use the value, quality and price of similar properties as deciding factors.

  • A Negative Impression is Created. People will wonder why your house is still on the market - they'll believe something is wrong with your home.

  • You (The Seller) Would Lose Money. You may have to make extra mortgage payments as well as incur taxes, insurance and unplanned maintenance costs.

  • You (The Seller) May Have to Accept Less Money. Studies show that the longer a house is on the market, the greater the discount off the list price. Often a seller will accept less than fair market value in order to sell because of an approaching deadline.

  • There is the Potential for Appraisal Problems. The appraiser from your buyer's lending institution must agree that the home is worth the asking price. If the appraiser believes the price is inflated, the loan may not be approved.

     

Look To a REALTOR® When You Need Answers Fast...

As you can see, there are multitudes of factors that determine the asking price of your home. Finding this price yourself can be a long and difficult task. That is why thousands of satisfied homeowners, like yourself, turn to a REALTOR®. A REALTOR® has the tools necessary to compute the fair market value of your house quickly and accurately while allowing for personal considerations (such as the date by which you must sell). Your residential specialist can also confidently answer your questions about listing, pricing and showing.

A residential specialist's goals are the same as yours:

  1. To get you the most money possible;

  2. To sell your home as quickly as you can;

  3. To make selling your home a pleasant and profitable experience for you.

If you have any questions or would like more information about pricing your home to sell please Contact Us. If you would like more information about buying or selling a home or property please visit our Buyers Page or Sellers Page.

Anne Connolly

About Anne Connolly

Broker Associate

Thank you for visiting my website! I have taken the time to provide you with as many resources and tools as possible in one spot to make the home buying experience as easy as possible.

Buyers: Check out my new Microsoft Bing Mapping tool to look around town and see the community you might like to live in. Then use the ‘points of interest’ buttons to search for nearby schools, parks or even the closest coffee shop!

Sellers: List with me and watch what I can do! Custom web addresses directly to your property on both my personal website and my brokerage's site will help market your property directly to buyers and increase the speed at which your property is found.

Sign up with my website to receive free information or to ask any questions you may have. My no pressure approach means everything on this site is free for you to use and you only have to worry about contacting me when you are ready or need some help.