STEP 3:  ESTABLISHING THE PRICE

Market conditions and condition rates are a two of many factors determining how much money you can get for your home.  During the time your property is being marketed is when you will want to get the best possible price for your home.  Let’s break that down.  The art of selling a home is not only marketing, but part science, and part negotiation.  In real estate there is no black and white every transaction is different so because of this you must do as possible to prepare your home for sale and hire the best possible agent.

What is Your Home Worth?

Somewhere between the price the sellers would like to get and the value the buyers would like to offer is a point of agreement resulting in a final sale.  Here are several important points when considering home value:

- Owner needs - If the home needs to be sold “quickly” this implies to the buyer that the seller will sell for a lower price and they may be right!

- Sale price is dependent on supply and demand - Living in a community with a growing job base and limited housing supply then sale prices will rise.  Quite the contrary if the community has a low job rate (or losing jobs) and people are leaving the are then that’s what is called a buyer’s market.

- Local sale prices determine the price of your home.  The cost of one home in your area might have a completely different value in another.

Who Can Help?

Experienced realtors at Miamirealtyfinder.com  are active and experienced in the local marketplace and can provide valuable assistance in adjusting a proper sale price for your home, marketing/advertising, negotiation, and closing.

How Much is Your House Really Worth?

The value of your home make an enormous difference when  making final financial decisions such as estimating your annual lproperty tax bill, refinancing your mortgage and borrowing against your equity.  What you paid for your house originally versus the current market is not pertinent the the current value.  It is wise to accrue information from various sources  and compare rather than using just one approach when determining the value of your home.  Start with a search online many web sites offer free home valuation information.  This way you can compare with nearby homes and market activity data with a click of a finger.  Second, call more than one realtor.  He or she will able to give you an estimate of the value of your home given its size and condition versus the local market condition.  Another good idea is to attend neighborhood open houses.  This gives you an opportunity to talk with professionals about local real estate.  Hiring a professional appraiser may cost a few hundred dollars but it may be worth it when making a financial decision. 

How to Price Your Home

Determining a sale price for your home is not as simple as it seems.  Here are some strategies to help you to conclude how much your home is really worth:

Take market conditions into consideration.  There are many factors to consider when determining market conditions.  Is it a cold or hot economy?  Are you selling your house during home-buying season?  Are rates attractive?  These are questions to ask yourself and do the research. Going to open houses is a good way to make an assessment of how other homes compare to yours.

Don’t let your personal views get in the way.  Remember, a potential buyer dos not care about your memorable moments or how much you paid for the home originally.  They are not interested how much you invested in landscaping, painting, or the hardwood floors.

Calculate the price per foot even though this isn’t the sole determinant of the asking price of the home.  It can, however, be helpful when coming up with a starting point.

Sweeten the terms in the transaction.  If you are willing to close escrow quickly most buyers will jump in.  Can you (the seller) offer seller-financing?  A lease-option can sometimes help first-time buyers.  The more flexible you can be in your terms the more successful you will be when pricing your home to sell.