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Making Sure the Price is Right When Selling Your Home

Illustration showing home inventory choice concept

Home selling is one of the hardest decisions that a homeowner makes. Putting your home on the market and making a move forward can be challenging. However, making certain that your home is priced right can help you move forward a lot sooner.

While it’s true that everyone wants to get the highest price for their home, finding a proper market valuation can be tough. In certain areas like San Diego, homes are moving at a rapid rate so inventory is low. Typically, this scenario is a seller’s market. However, it’s still good practice to price your home according to what it is truly worth. Working with a reputable real estate agent will help you find the correct market price.

Plus, according to Keeping Current Matters and the National Association of REALTORS, if you price your home to include negotiating room, it may sit longer. History also shows us that the longer a home sits on the market, it’s more likely to sell below the true market value. It’s important to know that homes are purchased differently than other goods or services. Most buyers are pre-qualified by lenders. This amount dictates their search criteria. In order to be considered as an option for a particular buyer, your home must be included within their given budget. If not, your home may not even be considered by a certain audience. Thus, your home will sit on the market for a longer duration. Furthermore, most potential home buyers view real estate that has sat on the market as having potential issues.

When pricing real estate, make certain that your realtor provides at least three to four comps within your neighborhood. These comps should be similar in comparison with the same square footage and type of home that you have. If you have a truly unique property, you may need to widen the search a bit for similar comps. However, your licensed real estate agent can help you find a price that is suitable for the current market. Do your own homework too. Perform a home search in your neighborhood for properties priced similarly to what you feel is your current home value. This will allow for you to view competition. Once your home is priced right, you’re more likely to get several offers, and you’ll be moving on to your new neighborhood faster than you think.

If you found this blog helpful, you might also want to read, “Is a Housing Bubble Forming? Experts and Data say No!

Is a Housing Bubble Forming? Experts and Data Prove No

Thinking of buying or selling a home in the La Jolla area? As consistent top producers in real estate, Linda Daniels and The Daniels Group are your La Jolla housing specialists. Working with The Daniels Group will give you with the advantage of having local experts to ensure that you have a successful real estate transaction. From buying, selling and investing to financing options and more, we have the expertise and resources to help you achieve your goals. Call us today at (858) 361-5561 or email us anytime by clicking here.