Javier Varon
Realtor
San Diego and Los Angeles
Contact Me - Tel: 760 942-1982 / Fax: 760 758-5212 / Dir: 760 481-5212 / Send eMail
3600 Ocean Ranch Blvd. Oceanside, CA 90256 - Map to office
Pricing Your Home
Proper pricing is one of the most critical aspects of selling your home. While you certainly want to receive the highest possible price for your property, you must be careful about setting an asking price that’s too high. Pricing a house too high will result in a lower sales price, and, at times, can cause the property not to sell at all.
Overpricing your property so that “buyers can make an offer” may cause buyers who are qualified to buy your home at its lower, true market value to never even see it.
Worse yet, pricing too high can make competing properties look better. By pricing too high, you may lead buyers to compare your home to competing homes, and to choose the competition’s more properly priced homes.
To obtain the highest possible price for your home, you must set an asking price that is as close as possible to its fair market value – the price a ready, willing and able buyer will likely pay for your property.
To ascertain this figure, you must perform an objective analysis of other, recently SOLD properties in your area. Unless you’re in a Planned Unit Development (townhouse/condo) complex, the challenge is in locating recently SOLD homes that are very similar to yours in size, location, age and amenities.
By using these comparables, I’ll assist you in performing the same type of valuation adjustments that an appraiser will use once we’re in escrow. (Remember, even buyers who can afford to purchase a home outright will normally obtain a loan for tax purposes, and the lender will have an appraiser confirm that the home is not overpriced.)
Starting with the basics, such as square footage, number of bedrooms and bathrooms, usable lot, and size, appraisers adjust the value according to location, condition and amenities (i.e. central air, pool, den, remodeled kitchen, view) in comparison to comparable SOLD properties.
Proper pricing of your property must also take into consideration your home’s market appeal. Since emotional reaction to a home is one of the greatest motivators for a buyer, the more effort you put into enhancing your home’s emotional appeal, the higher the price you will receive.
