How Much Is My Home Worth ? Whats Love Got To Do With It? When you decide to sell your home, one of the major decisions is how much to ask for it. One of the most important tips we can share is to Keep emotions and need out of it. To the buyer, its strictly business. You probably are strictly business when you buy too. For example, imaging you are looking to buy a car that is advertised everywhere at $29,900. Now, imagine you go to your local dealer and his price for the same car is $35,000. Imagine further that you ask why it is so much and he explains that he has three daughters that are getting married this year and he needs the extra money. How many of us would write out a check to buy and say, Well, why didnt you say so? I don’t mind spending and extra $5,000 to help you out? Not many. Thats what you are expecting when you ask a high price for your home because you need the money or you bought it when the market was high. The buyer just doesnt care. How Much Will Buyers Ask To Get Off? Very few homes sell for the asking price. The amount buyers will ask as a discount depends on many factors including the condition of the home, local market customs and asking price. Your Realtor can prepare a report for you that shows on average how much homes in your area were discounted to sell. Use this report to work out a plan for pricing and negotiation. Appraisals End Sales If Priced Too High Many buyers will get a professional appraisal of your home. Almost all mortgages require an appraisal by the financing company and many cash buyers get appraisals too. That means even if you find someone to pay too much for your home, the deal will probably end when the appraisal comes in. Can We Start High And See What Happens? You can try any approach you wish but starting high has serious disadvantages. Most Realtors spend some time each day looking at homes that have just come on the market. That os when you get the most interest in your home. Automated real estate web sites like zillow also can end buyers automated messages when new homes that fit their chosen criteria come on the market. Homes proved right get an immediate boost in interest from buyers but homes priced too high may be written off by professionals and buyers alike. How To Know If Your Price Is Too High If your price is too high, you will get few appointment requests. Your Realtor can tell you how many people saw your home on the main web sites and how many Realtors emailed your listing to clients. If this activity is low or if you do not get a good number of showing requests compared to other listings in your area, chances are you are proved too high. Another tell-tale sign is the number of showings. It takes about 10 showings to get an offer. If your home has had many more than 10 per offer, it usually means that people like the listing on line but find it price too high or that it has some other problem when the see it in person. Time Is Money Don’t forget that time is money. You want to move for a reason. Whether it is to enjoy a better yard, get away from neighbors, get your children in a better school or enjoy a warmer climate, is it worth putting off this dream for a little more money? To get the most for your home and still sell it in a timely manner, call Tony “The Results Guy” Delisi at Huntley Realty 847-471-7177.
Posted on: Mon, 09 Jun 2014 15:18:51 +0000
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