The Importance Of Being Realistic: Setting a Selling Price for Your Chester County PA Home
Tuesday, July 17, 2012
Unfortunately, selling your Chester County PA home in the current real estate market can be both difficult and frustrating. As much value as you may feel your home has, the current conditions might say differently. In this buyer’s market, accurate pricing of your home is imperative in getting your property sold quickly and for the best price possible. While this might sound simple enough, correctly pricing your property is far from easy and is a decision which requires time and effort on your part. The following tips should help make the pricing process a smooth and beneficial one for you.
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Do your research: It’s important to know what other homes in your area are selling for right now in order to get an idea of a price point for your own property, but you shouldn’t rely on that alone. An Automated Valuation Model, better known as an AVM, is a web-based technology that immediately generates home values based on data analysis of recent area comparable sales, tax assessments and price trends. Click here for free sites.
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Find the right Realtor: Hiring the listing agent who quotes you the highest price isn’t always wise. Interview at least 3 Realtors familiar with the area around your Chester County PA home and choose the agent who supports a suggested price with comparative market data. It is the job of your Realtor to know the current market and market trends inside and out, to be closely connected to the real estate market at large, and to be aware of other properties currently for sale in your particular neighborhood.
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Cast emotions aside: It’s important to remain as realistic and objective as possible when pricing your property. Although your home will most likely be invaluable to you, focus on the statistics from your research and on the advice given to you by your real estate agent for a satisfactory sale.
- Avoid overpricing at the outset. Because your property has the best chance of selling within its first seven weeks on the market, the longer it stays on the market, the less it will ultimately sell for. In addition, you will lose out on savvy potential buyers who won’t even come by to look, and fewer knowledgeable Realtors will preview your Chester County PA home. Lowering your price later will only result in delays and suspicions that something is wrong with the property.
