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Price Your Riverside CA Home Right And It Will Sell Quickly
By Brian Bean & Tim Hardin
A lack of available homes has contributed to increasing prices and frustrated buyers. But some sellers haven’t capitalized on the frenzy of competing buyers.
And it all boils down to price.
Even in the heart of real estate season, a home should be priced right to attract a buyer.
Here are a few benchmarks to help determine if your home is priced correctly:
Lots of Buyer Showings:If you’ve had a parade of prospective buyers marching through your home, but you don’t yet have an offer to purchase, your home is probably priced too high.
No Buyer Showings:If no one is coming to see your home, your home may be priced too high. (Or the marketing may not be attracting potential suitors — you’ll have to evaluate both issues).
A home listing is the hottest it’s going to be during the first 30 days on the market. After that, interest plummets.
Here are some pricing tips to help ensure your home doesn’t sit too long.
Find an Advocate:Right out of the gate, you need a great real estate agent to guide you. Not all agents are the same. There are wide gaps in experience, knowledge, habits, systems and marketing philosophies. Opt for an agent who is a Certified Homeowner Advocate.
Know the ‘Comps’:Pricing a home is part science, part art. The science part is the numbers. And the numbers start with comparable properties, homes that are similar to yours.
To help you find the right list price, a good Realtor will use homes within 10 percent of your home’s size and lot square footage, within a one-mile radius, built within five years of yours.
Weigh the Differences:Most homes differ in upgrades, amenities, floor plans, flow, even thefeng shuiissue of which way the house faces.
Does your competition have a granite kitchen vs. your ceramic tile? Do you have a killer view, back up to a busy street, or maybe even have really high property taxes? All of these issues must be evaluated against the competition.
Avoid the “Yes Man”:Many homeowners think their property is worth more than it is. Some agents will tell them what they want to hear, if it means a signed listing contract.
Just because someone gives you the highest price estimate doesn’t mean your home will sell. You might just be in for a series of price reductions.
The numbers tell the story. Buyers don’t care what you paid for the house or how much you need to profit. They don’t care how much you spent for your improvements.
Your house is worth what a buyer is willing to pay, and more importantly, what an appraiser ultimately determines.
Want to know what your house is worth? Call us today at 951-778-9700 for a 10-minute consultation.
Brian Bean and Tim Hardin, owners of The Dream Big Team at Realty ONE Group Champions in Riverside, are Homeowner Advocates.They can be reached at 951-778-9700,PE@DreamBigRealEstate.comorhttp://www.DreamBigRealEstate.com. BRE #01346382 #01771911
Brian Bean BRE 01346382 951-314-5402 Timothy Hardin BRE 01771911 951-367-5821 19322 Jesse Lane Riverside, CA 92508 951.565.8105 WE ARE A TEAM OF HOMEOWNER ADVOCATES and Real Estat....
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