Selling a Home in Brentwood – Don't price based on Solds!

By
Real Estate Broker Owner with Home Point Real Estate DRE # 01492725

Selling a Home in Brentwood – Don't price based on Solds!

If you were selling something wouldn't you naturally want to know what others have sold for so you would know how much to charge? You would think the same applies to homes – and it used to.

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The California Association of Realtors sends out e-mails with lots of tips and things to share with prospects. Part of today's tips was how to Sell a Home and one of them was to base pricing on actual Sold Homes. Ninety -nine percent of Realtors will tell you this and 99% of the time I would tell you this if Selling a Brentwood Home; but not today!

Of course Sold Brentwood Homes are important to consider, but don't let the history you see be a trap to not getting What Your Home is Worth! There are two basic reasons:

  1. Prices are rising so fast that Quality Sold Comps are now just a baseline for newer and higher prices (This will not last).

  2. There are lots of very current looking Sold Homes in Brentwood that seem to have low sold prices compared to the Active Homes for Sale in Brentwood. In many people's eyes this is a drag on the market. Well what these homes often are were short sales that went into contract months ago (before the price surge) and are just now closing.

Always look at Closed Comps, but look at the market in total. This includes inventory, absorption rates, prices of other homes currently for sale, and market trends.

For more tips on Selling a Home in Brentwood and Beyond give me a call at 925-260-4321 or e-mail.

 

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Topic:
Home Selling
Location:
California Contra Costa County Brentwood
Groups:
WeBlog Anything (almost)!
Posts to Localism
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Tags:
selling a home in brentwood
brentwood home sales

Comments 6 New Comment

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Rainmaker
506,989
Than Maynard
Broker - Licensed to List & Sell - 405-990-8862
Coldwell Banker Heart of Oklahoma

Always good advice, whether the market is going up or down.

September 25, 2012 11:45 AM
Rainmaker
1,160,622
Gene Riemenschneider
Turning Houses into Homes
Home Point Real Estate

I have clients questioning the market prices based on a Sold Comp that shows up.  But the comp went into contract last January or something.

September 25, 2012 11:51 AM
Rainer
245,118
Shannon Coe
916-741-1664, Lincoln, Rocklin, Loomis, Roseville
Allison James Estates and Homes

Hi Gene,

Great points. Prices are rising and you have to comp with the market. I hope you are doing well.

 

October 03, 2012 06:22 AM
Rainmaker
1,757,104
Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Good advice for home sellers.  It is still a good idea to price well in order to generate multiple contract competition.

Have a great day and an outstanding week as home buyers take advantage of record low mortgage interest rates.


October 03, 2012 11:23 AM
Rainmaker
884,892
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Hi Gene -- it's a total picture when pricing a home -- knowing recent sales, those in escrow plus homes currently on the market -- knowing your competition(other homes) can be a very valuable tool in proper pricing and marketing.

October 27, 2012 08:29 AM
Anonymous
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Rainmaker
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Gene Riemenschneider

Turning Houses into Homes
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Additional Information

Author Bio: Gene Riemenschneider is the Owner and Broker at Home Point Real Estate. He is a Realtor and a SFR (Certified Short Sale and Foreclosure Resource). Home Point Real Estate works with Home Buyers, Sellers, and Investors.

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