The first step in selling any Wesley Chapel home for sale is, of course, deciding to do so. In the list of things to do, pricing a home to sell is the most important, and the most difficult. The local market trends, time of year, and how motivated a homeowner is to sell will ultimately affect the sales appeal of any home. What does not matter in pricing a Wesley Chapel home is considering what you paid for the home or what you want for the home. Ultimately, the final sale price of your home will only depend on what it is currently worth in today’s market.
Using Comps to Price Your Home for Sale
However, the primary factors to consider when first pricing a Wesley Chapel home to sell are Comparable Sales, or “comps”, Condition of the Home, and age of the home. Your Comparable Sales is a set of data that shows the recent sales of similar properties in nearby areas. This data set is used to give a tentative starting point in the pricing process. Comps will give a homeowner and their sellers’ agent a general idea of where to start.
For example, if three bedroom homes in the nearby area have recently sold in the $300,000-$400,000 price range, then this is a general idea of where to start. On the other hand, if those same houses have only sold for $100,000- $200,000 the homeowner wouldn’t be smart to start an asking price at $300,000. The listings of overpriced homes for sale tend to sit on the market longer and may not sell if they sit too long.
Homes That Sit on The Market Too Long Don’t Sell
As homes sit on the market, buyers begin to think something is wrong with the property and may not make an offer on a home that has been sitting too long. They may also see that a home was placed on the market and removed several times and this will also be a red flag for buyers. This is why some sellers will go through several agents to sell a home. An over-priced home will not sell, regardless of the listing agent hired.
Condition of the Home for Sale
The condition of the home for sale is important and even more so is the ability of the homeowner, to be honest about the condition of the home being sold. If the home has new floors, new paint, a new kitchen and new siding, none of that is going to matter to the potential homebuyer if the pipes leak or if a smell of mold fills the air inside the house. The condition will raise or drop the price from the ‘comps’ starting point.
Price Your Home to Sell Gets Buyers in The Door
Buying a house is like buying anything else in that if it is priced too low, the potential buyer will wonder why. If it is priced too high, a buyer will see the home as being outside of their budget and may not even consider negotiating price. Either way, getting potential home-buyers through the door, the crucial first step in any relationship with potential buyers, isn’t going to happen unless the home is priced correctly.
Remember that pricing a home to sell is still only a starting point in the negotiation, and a potential home-buyer may offer a different price depending on the market. The seller and buyer always see the home for sale with different perspectives and will view comps, and condition differently. This is why it is so important to hire a real estate agent that understands the market, knows how to price your home to sell, and will work with you to get the best price possible in the current housing market.
If you are interested in information on listing homes for sale in Wesley Chapel, or any real estate in the Tampa Bay area, please contact 54 Realty Group at (813) 435-5411 or start your home search now.
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