Wednesday, November 11, 2015

How To Accurately Price Your Home

Determining your initial asking price is possibly one of the biggest challenges sellers face. The price impacts a lot more than the size of your wallet once the transaction is all said and done - it also plays a huge role in your home's visibility on the market and how many buyers will come through your doors.

Why Is Pricing Your Home So Important?

There are several reasons why pricing your home is a crucial part of successfully selling your house at the Lake of the Ozarks. Here is a quick look at some of the biggest contributing factors:
  • When buyers see an asking price that is outside of their price range, they may scratch the home off their list of potential properties before even giving it a second glance.
  • If buyers see an asking price that seems "too good to be true," they may assume that there is something wrong with the property. 
  • Buyers often search for properties online by searching within pricing parameters; if your home is not priced accurately, it may not show up in their search results.

How Can You Accurately Price Your Home?

Your Lake of the Ozarks REALTOR® will be a huge asset when it comes to accurately pricing your home, but there are several things you can do yourself to find the right price:

1. Research The Sale Price Of Comparable Homes
Ultimately, homes are worth whatever buyers are willing to pay for them. One of the best ways to determine how much your home is worth is to evaluate the actual sale prices of homes that are similar to yours. Look for homes with similar design structure, similar age, similar neighborhoods, etc. Your real estate agent can help you gather this information.

2. Base Your Price Off Of Your Home's Condition
Think about what your buyers will have to do to the property after they move in. Will the carpets need replaced? Do the appliances need to be updated? If the buyers will have to perform several updates after they move in, you may need to lower your price. If, on the other hand, you have already taken care of any necessary repairs or upgrades, you may be able to price your home a little higher.

3. Order A Home Appraisal
If you want to accurately find out what your home is worth, you can hire a professional appraiser to come evaluate your home. Your appraiser will carefully evaluate your home's condition and compare it to other homes on the market to determine its official market value. Once you get your official appraisal amount, you can use that information to price your home.

Eagle's Nest Realty Is Here To Help!

If you are in need of a real estate agent to help you sell your property at the Lake of the Ozarks, contact the team at Eagle's Nest Realty. We can help you price your home and market it to interested buyers. We look forward to working with you!

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