Tuesday, April 19, 2011

3 Questions to Ask In Order to Get Your Home Priced Right

Right now in the Lincoln, Nebraska real estate market we are seeing an increase in buyer activity & rightfully so since it is spring time & this is usually when real estate market starts to pick up. The thing to keep in mind as a seller is that this is also the time when there is an increase in the number of homes for sale. Competition is at its highest. When that is the case sellers must remember that pricing & condition REALLY matter. Here are 3 strategies to ensure that you price your home correctly in order to get it sold in the quickest amount of time for the most amount of money possible.

  • How Much Did Comparables Sell For? - A good real estate agent should be able to provide you with a detailed list of comparable homes that have sold within the last 6 months. This will give you an idea of what similar homes are selling for in your area. Obviously no two homes are exactly alike but a qualified agent should be able to give you a detailed analysis that takes into account the differences in your home to the similar sold homes & assign a value to those differences if need be. This analysis should give you a price range that your home should sell in. Great! We know where to price your home that's it... WAIT A MINUTE!
  •  What Are Comparables Currently Priced At? - This is an important step that agents sometimes miss. Just because your market analysis says the home should be priced at $150,000 doesn't mean that is what it will sell for in the CURRENT real estate market. That is why it is key to take your market analysis price & see how it fits into the current market of similar homes. If by pricing your home at $150,000 puts you as the most expensive homes in the neighborhood, its probably not the right price to list at. So pricing the home IN the market rather than just ON the market will make a big difference in getting your home sold quickly & for the most amount of money possible. 
  • What Kind of Condition Is The House In? - This may sound like an obvious key to getting your home sold quickly & for top dollar but in our current real estate market this question can simply not be ignored. Buyers are more "picky" than ever. I call it the HGTV syndrome. Most buyers wants to purchase a home that is move-in ready & up-to-date. In this time of year especially, when the number of competitors is high, buyers are more likely to write an offer on the home down the street even if it is priced slightly higher, simply because it is in better condition & is move-in ready. 
If you're thinking about selling your home or if you're just curious what the current market value of your home is, give us a call at The Korn Team. As always, we provide a NO COST, NO OBLIGATION listing consultation. We'll tell you everything you need to know in order to make the best decision for you and your family. 

Jason Korn
The Korn Team
RE/MAX Real Estate Concepts

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