Tehama Country Real Estate

Tehama Country Real Estate – 3 How To Set The Right Price For Your Home For Sale Real Estate Spotlight By Alex Mason careful calculation to be sure you meet the fair market price and attract qualified buyers. s Many homes that are over- priced find themselves languish- ing on the market for an inordi- nate amount of time, causing stress and financial strain on the home owner. And if the home is underpriced, you may be able to sell it quickly but end up costing yourself money. pocket when closing the sale. Finding the right price point for your home is made easy by using industry tools to shape and guide your price range. Always objective and never emotional, your home should be priced to meet competitive standards for your general neighborhood and city block. Overpriced homes have little chance of going into escrow, and underpriced real estate has the best chance for a quick sale. COMPS The comps, or comparatives, are a basic guideline of what other homes in your vicinity are selling for. The homes that are the most similar to your type of property will give you an idea of where your perfect price point is. Factors such as a corner lot, in-ground swimming pool and interior upgrades will definitely affect the total sale price, so to begin, just stick with the square footage, number of bedrooms and bathrooms, and size of the garage. UPGRADES When you are selling your home and wish to remodel it for a better showing condition, be sure to use caution with how much you intend to spend. Not all home improvements will recoup your rehabilita- tion investment, no matter how luxurious you believe the enhancements are. The tried and true remodeling efforts that yield a high return are upgraded and modernized kitchens and bathrooms. Paint is also a green light, and new carpets add a fresh and attractive appearance. However, investing in crown moldings, a swim- ming pool, or expensive nooks, such as a wet bar, are hit and miss with the buyers and may not warrant the total cost of the rehab money flowing back to your APPRAISALAND THE BANKS When a buyer makes an offer on your home, he or she is under the assumption that the property is going to appraise for your asking price. Most home buyers will finance the property with a loan and very few can offer a cash deal. When a bank funds the property mortgage, the amount of the loan may not exceed the appraised value of the home. If the buyer has entered into agreement with an overpriced property, he or she may make up the overage with a deposit, but in most cases the home purchase deal is scrapped because the property price was set too high by mistake. STAND BACK The best advice to sell a home quickly and efficient- ly is to use the services of a real estate office. Your Realtor or agent has all the experience to set your price point to the where both buyer and seller are sat- isfied with the deal. When your home is going to market, it's very important to stand back and look at the real estate industry, its trends and buyer behavior and release yourself from any emotional attachment to the prop- erty. Emotions can cloud the scene and cause you to make poor judgement calls on what your home is really worth. So, take a deep breath and stand back while your real estate professional takes your home to market and seals the deal for a fair price. Alex Mason is a former real estate agent and mortgage bro- ker living in Los Angeles. elling a home is a game of

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