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Home Pricing

The importance of proper home pricing when selling your home

When selling your Massachusetts home their are many variables that will allow you to get the most out of your home sale.  One of the single most important aspects of selling your home is pricing it properly.  Priced even 3-5% over fair market value and your home can languish on the market.

The first step in properly pricing your home is to have an agent prepare a Comparative Market Analysis and determine the fair market value of your home.   Fair market value is the price the general home buying public will be willing to pay for your home,  In New England properly pricing your home can be more of an art then a science do the older housing inventory and the many different ages and styles that are around you.

At the end of the day, your comparable properties show you a past history of what similar houses have sold for in your area.

When selecting an agent to sell your home it is important to find an agent that has a strong marketing plan to get your home sold.  Do not just pick the agent that gives you the highest price.  Pay attention to the CMA yourself and understand the comparable properties the agent used, make sure it makes sense to you and don’t be afraid to ask questions.

No amount of marketing will sell an overpriced home!  Once a homes starts approach the average market time buyer’s start to wonder what is wrong with the house and why no one else has bought it.

Asking Price of Your Home- How will Home Buyers React?

There are three critical pieces to getting your home sold successfully.  I call them the 3P’s.  The 3P’s are Preparation, Pricing and Presentation.   The most critical component of the 3P’s is pricing.  I will focus on your homes list or asking price and how buyers will react and respond to your homes asking price in relation to fair market value.  95%+ of all homes will sell for fair market value. Your homes asking price does not affect your homes fair market value!  Your home will sell for what it will sell for based on location, square footage, function and appeal […]

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Home Pricing and its Relationship to Buyer Activity

When choosing a list price for your home, realize that the price you choose will have a direct impact on the buyer activity and response.  In today’s real estate market it is important to list your home right at the market.  Your list price should be indicated by what similar homes have sold for not homes that are actively listed or homes that have expired unsold. Top of Triangle Sellers decision to price above retail 97% dissatisfied with their Real Estate Agent.  60-90 day on the market and frustration levels intensify. Will require price  0-5 showings per month Very little […]

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Re-listing your home- THE DREADED EXPIRED LISTING!! Part 3

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This is the third post on a 5 post series.  There is nothing worse than putting your house on the market to find it sits with no offers and the listing contract expires, with your house unsold.   In post 2, we talked about how important effective communication between the real estate agent and the seller is to a successful sale.  In part 3 we will talk about pricing. Pricing Review it with your Agent Pricing is the single biggest reason why homes sit on the market unsold.  It is time to review the pricing of your home.  The correct price […]

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What Makes a Successful Home Sale- Haverhill Massachusetts

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I just closed on 3 Greenhill Farm Road in Haverhill.  The sellers of this condominium unit approached me back in early March to discuss the sale of their condominium.  One of the things that made this sale successful was that they contacted me months before they were ready to list their home for sale. At the first meeting we talked about a pricing strategy and what we needed to do to prepare their home for the market place.  We spent hours over the next couple of months discussing the preparation of the home.  In the end this is what we […]

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How will your Home Compete?

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The deciding factors to determine how to price your home When deciding how to price your home, a home seller must remember that their home is competing in the real estate market with other similar homes.  Home buyers have choices and your home will be compared to other homes in a similar price range.  The graphic shows an order of importance of some factors that go into how to price your home and determing fair market value.   The order of importance can vary  from home to home and each situation, but in general you will find the order of importance […]

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Control- Sellers What Can and Can’t You Control?

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Are you a home seller getting ready to put your home on the market?  It is important to know what you can and can’t control during the home selling process. Price- You, as the home seller have total control on how you price your home based on your competition and fair market value. Condition-  You have a great deal of control over how your home is perceived by the buying public. Advertising- You  or you real estate agent have a fair amount of control over the exposure your home will get to the buying public in your price range. Time […]

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How to Have a Successful Home Sale

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Any home can sell in any market, if you line up what I call the 3P’s of Home Selling. The 3P’s consist of: Preparation-  What are you prepared to do to your home to make it stand out from the crowd? Pricing-  The most critical piece and must be looked at very carefully without pricing your home properly there is no amount of pricing or presenting that will sell your home. Presentation- What the agent does to put the most positive spin on your home and expose it to the most amount of home buyers. One critical step of the […]

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Understanding Fair Market Value

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Massachusetts home buyers and home sellers need to understand fair market value and how it impacts a successful sale or purchase of their home. Definition of Fair Market Value The price agreed upon and in which the money and property exchange hands between a home buyer and home seller. Fair Market Value is a price in which the general buying public would be willing to pay. Both buyer and seller must be willing and informed to buy/sell the piece of real estate in a arms length transaction. A transaction where neither party is desperate to sell or buy and where […]

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Is Your Real Estate Agent Buying your Listing?

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I went on a listing appointment the other evening.   I know I shouldn’t be shocked, but I was. I spent two to three hours researching and going over pricing on the property the homeowners were looking to sell.  My research included a few drive by’s of home that sold in the past 6 months.  Two very good comparable properties were on similar parallel streets to the house I was researching.. I went through my marketing presentation than we started talking about pricing.  I was told that the home seller had received prices $50-70k higher.  I had done my homework and […]

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Why Didn’t My Listing Agent………Take better Photos!!

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Because of my background in advertising and commercial photography, I put a heavy emphasis on the quality of the photographs we take to market your home on the internet and printed flyers.  I have over $2500 in photographic equipment I use to photograph a home and will spend two to three hours photographing you home. One of my rules that I try to follow is that the front of the home has full sunlight on the front and blue sky in the background.  I will go back until I can achieve this if possible.  About 70% of the homes this […]

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