Setting The Price For Your Home

By
Real Estate Agent with RE/MAX Eastside Brokers, Inc.

Home for Sale

The three factors to consider in selling your home are location, condition, and price... and they are all related.

The most important is price!

Location - Your home's location and setting influence its value.  A home inside a quiet subdivision sells for more than the identical home on a busy street.  Remote areas typically sell for less than close in areas.  Views, streams, and trees usually enhanced value.  You obviously have no control over location at this time.

Condition - New homes enjoy a marketing edge over resale homes because they are shiny and clean.  And builders enhance their appeal by offering model homes (clean, bright, decorated in current colors and amenities) for buyers to examine. Our goal is to make your home as close to a model home as possible... being sensitive to costs. You have nearly complete control over condition, and you can increase value and decrease marketing time by being sure your property is in the best possible shape.

Pricing - If IBM's stock is trading between $115 and $120, it does no good to insist on selling at $140.  Likewise your home must be priced within the appropriate range. You must actually sell your property twice: first to a buyer and then to a lender's appraiser. The buyer is more subjective and compares amenities of your home to those of other homes in the same price range. The appraiser is more objective and compares age, size, and cost-identifiable features in your home against other properties that have sold. 

Why Should You Price Your Home Realistically?

Find the answers at OnlineReason.com

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Rainmaker
48,867
A List Realty Group Inc.
Keller Williams Realty e2pllc - Lake Stevens, WA
Price is the most important factor in the sale, thanks for the info.
Sep 18, 2007 12:45 PM #1
Rainer
18,974
Richard Thewissen
ERA Realty Pros - Stonington, CT

Basic economic law, buyers will always pick the lowest cost (provided that the other factors are equal).

Thanks for the post!!!

Sep 18, 2007 12:50 PM #2
Rainmaker
37,047
Jason Schweiger
Network Funding LP - Auburn, WA
Loan Originator / Branch Manager NFLP
I agree, pricing is the most important and the hardest to determine in this market. You noted IBM's stock trading at a certain level and pricing over that was not good. What if we didn't know where IBM was trading? Similar to how the housing market is now. With the current market, it will make it a bit more of a challenge. Good blog Jerry!
Sep 18, 2007 12:59 PM #3
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Rainer
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Jerry Hollerbach

Greater Seattle Area's Short Sale Specialist
Don't be shy, ask me anything about Real Estate or Short Sales.
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