How To Properly Price Your House for a Quick Sale
If you’re planning to list your house on the market, ensure that you price it correctly to get a quick sell. Homeowners often love their homes so much that listing it at the right price becomes a problem at times. The moment you miss the mark on the price, your home may take ages to sell. It won’t matter if it’s well decorated, in a beautiful neighborhood or has all the latest amenities. For this reason, you should conduct adequate research and consult with a real estate agent. Below are some of the factors to look at as you list your home:
- Asking price
One of the key factors that will enable you sell your house fast is the asking price. Many home owners don’t know what asking price they should list on their property. So, it’s advisable to quickly research and find out what the ideal price for your home will be. Listing it too high will only chase away potential buyers.
- Check comparables
Look out for homes similar to yours that have sold out in the past few weeks or months in the same or similar neighborhood. To be more precise, people are very likely to pay a price close to what was paid to a similar house. When you work with a Realtor, they compile a list of comparables which you should check and make your own evaluation.
- Active listings
Active listings can be a big help when it comes to pricing. How much are homes in your neighborhood going for? Are the houses similar to yours or different? Take your time and visit other listed houses and see whether you’ve priced yours correctly or not. Put yourself in the buyers’ perspective to identify the varying features that every house has to offer with regards to price.
- Check out the market trend
What does your market say? Is it rising or falling? Understanding the direction of your market is key to coming up with a good price. If you’re in a market that is very active and growing steadily, setting a higher price than the current one can be a good move. To some extent, setting your price above the market curve can as well be a nice gesture. Though, don’t be too reliant on the market curve.
In addition, buyers will rush to buy a house when interest rates are low. But when they rise or are not favorable, there will be less activities going on in the Real estate market.
- Time of the year
Real estate market is not very active all year round. Thus, when you list your home for sale, make sure you’ve studied your market well and know when the boom season is. In the US, the real estate business is very active during spring and low in winter when people are busy preparing for the festive season. Chances are if you list your house in spring, you may get a quick sell and a better price when compared to winter.
- Inventor
Another vital factor that drives prices is the demand and supply chain. If your house is in a neighborhood with many listed homes, chances are that you will sell it at a lower price. But if you’re located in a busy and high demand area, then you can sell your house at a bit higher price.
Conclusion
Pricing your home shouldn’t be cumbersome at all. Work with a professional who will enable you to price your house correctly. Also, be alert and observe the market trends so that you can capitalize on them.