Whether it is sellers or buyers market, everyone wants to get good price for his home. There is not any strategy that works for getting a good price for your house. All you need is thorough planning and preparation. Here come some brainstorming suggestions how to evaluate and get fair price on your home.
- Study recently sold properties – Doing homework at your end can help you in many ways. It will give you an idea at what price comparable properties are been sold in past. By comparable here it means a property that is similar in condition, amenities and size. Your real estate agent can help you in landing a best deal for you. Get in touch with accountant to know the trends of the market in the past. Study the statistics to know the potential of the property in a particular area.
- Know the comparable properties recently on the market – Real estate market is full of competition. There is a blind race where everyone runs to be ahead of others. To stand out of others it is suggested to know the comparable properties that are recently on the market. Check the prices that they offered. Genuine sellers price their properties similar to the price of market properties to stay in competition.
- Know the reasons of comparable properties that did not sell – Check out the reasons for the unsold properties and recent demand in the market. If there is lot of properties similar to yours in the market, you are most likely to get lower price for it. If the house you are considering did not sell on the market because of pricing, there may be a reason of overpricing attached to them.
- Study market trends and appreciation rates – The prices are always high in the seller’s market and low in the buyer’s market. It is just a matter of time where the market sits. Consider the interest and appreciation rates in the area. Know the market trends. It is difficult to predict the peaks of the market until they become history. But consultation with the experienced always pays off.
Price your home accordingly. If you are overpricing your home, do not get surprised when potential buyers did not buy it. Invest some money in repair in maintenance of the house. Small changes can bring a big difference. Stage your house effectively when buyers come to see it. Get help from the experienced real estate agent that can negotiate the price for you. Only a good agent can land a good deal. To get a good price on your price, consider the above mentioned factors and price it genuinely.