 | |
Keep in mind that a property's market value is determined by what buyers are willing to pay. In other words, a buyer won't pay more for a house if they can buy a similar one for less.
Your first step should be to determine a fair price that buyers are willing to pay through a Competitive Market Analysis (CMA), which Blue Edge Realty will provide to you. Your Property Marketing Consultant will advise you on interpreting the CMA so that you can make an informed decision about your home's price. The CMA will show what current buyers have paid and won't pay under current market conditions, and what other homes similar to yours are priced at. If you price your property in the appropriate price category there will be a greater chance of obtaining a high offer. For more tips, see our section Pricing Your Home.
Elements Affecting Market Value
The housing market is hard to predict. There are many factors affecting the marketability of your property. Unfortunately, some of these are beyond your control:
- Physical Features of the Property - the location, size, architectural style, etc.
- Market Conditions - buyer demand, the economy, interest rates, time of year, etc.
- Competitor Property - other houses for sale, their prices, their location, etc.
There is good news, though. Some factors are within your control:
- Listing Price and Terms Offered - a Competitive Market Analysis is a good guideline. It will show you what similar homes in your area have sold for so you can price your home accordingly.
- Condition of Property, Inside and Out - Simple aesthetic improvements such as trimming trees, planting flowers, fixing squeaking steps, broken tiles, shampooing rugs and even re-painting a faded bedroom will greatly enhance the appeal of your house. Small changes and make your property stand out from the pack.
© 2007 Blue Edge Realty.
|
|
|
|
|
