Richi  Khanna

Richi Khanna

Broker

RE/MAX Skyway Realty Inc., Brokerage*

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647-997-1281
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Hire a top class real estate agent who will invest in your future.

Why Pricing Your Home Right Is Essential?

The housing market is changing, and if you are considering selling your home, properly estimating your home has never been more important.

We've all heard the big news about rising loan fees and a real estate market slowdown. Following the 2008 housing crisis, it appears that everyone will go crazy at the first sign of a housing market shift. The housing market has been steadily rising over the last decade, so it stands to reason that a correction would occur at some point to create a more stable market.

For those considering putting their home on the market sooner rather than later, properly evaluating will mean the difference between selling your home quickly and for a fair price or having your home sit available for a long time.

Why? Homes are not selling as quickly as they were a few months ago, but an increase in the lodging stock gives buyers more clout in the selection and exchange process.
 

Price It Right From The Start!

Conduct an examination and be realistic about the value of your home. Real estate agents frequently struggle to get homeowners to understand and accept the true value of their home because, on numerous occasions, enthusiastic connection and assessment play an important role. We also frequently speak with dealers about a local home that sold for x dollars, so homeowners believe their home should be worth the same or more.   What they don't realise is that timing can have a significant impact on value because the market fluctuates constantly, and just because a home is listed at a certain price does not mean it will sell at that price.
Instead, try to disconnect on an enthusiastic level when comparing and contrasting your home with others. Furthermore, if you're comparing to nearby homes that sold recently, make sure the transaction occurred within the last 2-4 months and find out what the final sale price was.
 

Third Party Sites

Be cautious about the information you find on third-party websites, as they will not provide the full picture when it comes to incorporating homes that are truly comparable to your own. All else being equal, ask your real estate professional for comps in your area and the surrounding region. Your real estate agent will be able to pull ongoing comps that are more specific to your home's size, design, number of rooms, and other distinguishing features. Evaluating your home correctly can be difficult and time-consuming, but conducting research can literally pay off.

Big Numbers Matter! 

Assuming your home is worth $800,000, most sellers must value it at $810,000 to allow for some squirm room. It's a good sign, right? Buyers who can afford a $810,000 home can typically pay $850,000 or more. When buyers are looking in the $810-$850k price range, your home will be compared to homes that are more updated, larger, and higher quality. As buyers look at homes, they are undoubtedly setting expectations based on their price range, and if you are at the bottom of their price range, they will typically move on.
Assuming your home is worth $800,000, most sellers must value it at $810,000 to allow for some squirm room. It's a good sign, right? Buyers who can afford a $810,000 home can typically pay $850,000 or more. When buyers are looking in the $810-$850k price range, your home will be compared to homes that are more updated, larger, and higher quality. As buyers look at homes, they are undoubtedly setting expectations based on their price range, and if you are at the bottom of their price range, they will typically move on.

 

Another Blog to Read: Types Of House Inspection for Buyers and Sellers

 

Leverage your home for multiple offers   

Pricing the home correctly is critical, but keeping it in as good condition as possible is equally important. The old saying goes, "How we live in a home and how we sell a home are two different things."  Make all necessary repairs and, if possible, stage your home to ensure it looks its best.

A buyer's ideal home is one that is in excellent condition and has been accurately appraised, and a seller's best way to get the best price possible. The more offers you receive, the more power you have to negotiate.
 

What’s Your Motivation For Selling Your Home?

We'd all like to believe that people who sell their homes do so for good reasons, such as upgrading to a larger and better home or relocating. Unfortunately, that is not usually the case. Many people sell for a variety of reasons, including financial gain or personal life changes. Being open with your real estate agent about your reasons for selling is critical, as it will assist your representative in determining the correct price for your home and the proper marketing procedure. Your agent's job is to get you the most money possible and sell your home in the timeframe you require, so help them help you!
 

 

Thinking about  SELLING or BUYING a Home,
Richi Khanna can help you and if you have any questions in regards to real estate, then you must call Me today! at
647-997-1281

What Are You Waiting For?
CALL RICHI  NOW!

Or, fill out the form on this page to receive your FREE Report.

Richi Khanna

647-997-1281

Broker

 

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