Unfortunately, what you feel your home is worth has no bearing as to what it is actually worth. We know you have been spent a lot of money in mortgage payments and have potentially put a lot of money into your home while you have lived there. In turn, that may have left you feeling your home is worth more than it may actually be worth. As your home ages, you may notice that you are putting more and more money into it and this is usually about the time many choose to sell.
Here is what you need to know before pricing your home to sell.
No matter what you originally paid for the home it doesn’t impact what it is currently worth in today’s market. If you purchased your home within close proximity of the real estate market crash in 2007 you may find that you’re underwater on your home. However, home prices continue to rise month after month leaving fewer and fewer homeowners underwater. When it comes to pricing your home to sell the local housing market determines what your home will sell for. To get a realistic picture of what you can expect your home to sell for take a look at what similar homes in your neighborhood have sold for recently. If you don’t already know these prices, we would be happy to help you with those numbers, with no obligations.
Our team will work with you directly in helping you find the right price to list your home for sale. We will provide you with a Comparative Market Analysis (CMA) that will show you what homes similar to yours have recently sold for. The CMA will also take into account any special features your home may have.
Beyond the market price of your home compared to what others have sold for recently, the condition of your home comes into play. Any upgrades you have done to the home will play a part in the pricing of it. However, if your home could use some updating it may take longer to sell if not priced accordingly. Many times buyers are looking for a home that is ready to move into with no work on their part required. The areas that many buyers tend to scrutinize the most are flooring, lighting, plumbing fixtures, wall colors, and wallpaper. Many of these things are easy to change without great expense and can make your home more desirable. Larger more expensive items that buyers consider are the age of the roof, water heater, and heating and air conditioning units.
If you are highly motivated to sell your home and want it to sell in a timely manner put some time in to getting it ready to sell. We tend to accumulate a lot of things over the years and you may find that you no longer need many of those things.
When it comes to the listing price of your home take into consideration the number of homes in your area that are currently for sale and how long they have been on the market. If there are homes in your neighborhood that have been on the market for an extended period of time and are not selling you can expect them to be overpriced.
When it comes to pricing your home to sell we are here to help you every step of the way. We will guide you throughout the whole process making it as stress-free as possible for you. If you’re curious to know what your home is worth check out our online tool here.
If you are considering selling your home in the Jersey Shore area, it would be our pleasure to help. Our job is to make your tomorrow better than today. Contact us today via email or give us a call directly at 609-264-6762