Pricing Your Home

Pricing your home is a bit like mixing science and art. It's about doing your homework on similar homes and making an informed decision that matches the current market. Let's chat about setting the right price for your home!

Nailing the Right Price - Here's the Deal

Choosing the right price isn't rocket science, but it is crucial. Your price should pull in potential buyers, help you make a decent return, and get your home off the market quickly. While you set the price, the market decides the value. Asking too much can backfire, especially in a shifting market. If the price is too high, you can find yourself reducing the price over and over again just to catch up with the true value of the current market. 

So why is getting the price right so important?

Why Getting the Price Right Matters

  1. Speed and Ease: The right price means a faster, less stressful sale.

  2. More Attention: It attracts more buyers and keeps real estate agents interested.

  3. Better Advertising: A good price means more calls and inquiries because your offer is more compelling.

  4. Bigger Offers: A fair price can lead to higher offers and more competition – more money in your pocket.

  5. Staying Fresh: A well-priced home stays appealing, like a fresh loaf of bread.

What to Avoid

Let's steer clear of some common pricing mistakes:

  1. Sentimental Attachments: We all love our homes. And it can be tough to let them go. Just remember that market value is not equal to sentimental value. Those looking for your home don't have the same relationship with it that you do.

  2. Ignoring Facts: Stick to the facts. What is the market telling you? What are similar homes selling for? This is a good gauge to see if our price is right or not.

  3. "Let's Test It" Approach: Starting high and lowering later might not work - buyers could lose interest, and if the market is slowing down, you could find yourself chasing it.

  4. Appraisal Hassles: Overpricing can lead to appraisal problems and delays.

  5. Lone High Pricer: If your price is too high, you might not have any takers.

  6. Helping the Neighbors: High prices could make your neighbors' homes look like better deals.

  7. Financial Stress: Overpricing can mean extra mortgage payments and unplanned costs. Not fun!

Your Real Estate Partner

Your real estate agent is your partner in this pricing adventure. And they have resources to help you set the right price:

  1. Comparative Market Analysis (CMA): They'll compare your home to similar ones to find the sweet spot. Your Story Real Estate Guides dive deep into the features of other homes. This isn't just looking at homes on Zillow and averaging their prices. We make calculations based on data like year built, current finishes, location, market trends, and much much more to get you the most accurate figure we can.

  2. No Exact Price: There's no secret formula. You decide based on factors like marketing time and condition.

  3. Market Trends: Your Story Real Estate Guides are in the market every day. We watch the trends and stay up to date on recent happenings. If you have market questions, we can answer them for you.

  4. Net Earnings: Your Guide will help you figure out how much you'll make when all is said and done.

  5. Offering Extras: Your Guide can help you determine the best incentives to sweeten the deal and get more competition.

Remember, not all agents offer the same level of service. Especially when it comes to marketing your home. So, choose wisely based on their skills and offerings, not just their fees. 

Pricing your home doesn't have to be daunting. With the right approach and a helpful guide, you'll find that sweet price point!

Instant Home Value Estimate

Below, you can get an estimated home value in 2 minutes if you're curious about what your home's approximate value is!