• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Login/Register (252) 326-4194
  • Home
  • Search
    • Search All Listings
    • Search by Map
    • Featured Listings
    • New Listing Notifications
  • Buyers
  • Sellers
  • Blog
    • Listing Videos
  • About
    • About Me
    • Testimonials
    • Google Reviews
  • Contact

7 Important Considerations When Pricing Your Home for Sale

February 7, 2020 by idxcentral Leave a Comment

Setting the right price for your home can be an overwhelming undertaking, but it’s so important! Luckily, our wonderful real estate agents can help us compute all of the housing market lingo, data and overall confusion. That being said, it’s still helpful to understand how the process generally works. We’ve arranged these seven important considerations when pricing your home for sale:

1. Seek advice from a real estate expert.
You don’t have to figure this stuff out on your own! Real estate professionals are here to guide you. Trust in the value of their expertise! Your real estate agent can conduct a CMA (Comparable Market Analysis), which will do most of the heavy lifting for you. A CMA is a home evaluation tool that real estate experts use to estimate how much your property is worth. Avoid automated CMA’s on big company websites or price tools like those found on Zillow, both rely on inaccurate data. The only way to get an accurate CMA is through a trusted real estate agent”

2. Examine the prices of currently listed and recently sold “comps.”
It is crucial to study “comparables,” often referred to as “comps,” when pricing a house for sale. Comps are recently sold homes that are similar to the one you are selling in terms of size, age, location and condition. Take a look at homes that have sold within the past year – or more ideally, the past three months – that are comparable to yours and in the same area. Generally, you will not want to deviate far from these figures.

Take the characteristics of the area into consideration, as well. For example, is your listing in a very remote area where you may be hard-pressed to find any decent comps? In this case, it may be necessary to look over a wider area to find properties similar to yours, or you can even consider a different residential area with similar features. In other areas, the value of a home can increase or decrease significantly just by going around the block or “across the tracks.” It’s important to be aware of these details when analyzing comps!

3. Study how comps were listed versus sold.
All homes put on the market are initially priced and listed according to various factors. But the selling price can be higher, if the seller is lucky, or lower. When examining your comps, it’s helpful to look at these ratios to have an idea of market fluctuations, and what sellers may have done right or wrong. Your real estate expert can help you learn these details.

4. Review how long comps were on the market.
Investigate how quickly or slowly comps were sold, or even withdrawn or expired, for valuable pricing feedback. If certain comparables were sold much faster than others, try to find out why.

5. Pay special attention to the square footage of comps.
It’s good to keep in mind that all listings will eventually be appraised. Appraisers aim for accuracy, but even so they can stray more than 10-20% on their gross square footage calculations. With this in mind, it’s best to compare homes with very similar square footage in order to come near the eventual appraised value.

6. Know the market conditions.
Take everything you learn about comps and then analyze the current market conditions the best you can. How is supply and demand currently affecting the sales prices for comps? Typically you’ll want to set your price close to the last few that have sold in your area, but if supply is lower and demand higher, consider raising your listing 10% or so. Ask your Realtor for more tips on how to factor in the current market.

7. Consider starting lower.
When in doubt, shoot low, not high (not too low, of course)! Setting your price under what buyers are ready to pay will get you multiple offers. Prices can be adjusted, of course, but it’s far better to start lower and then raise your price rather than starting too high. Alternatively, shooting a bit lower means that your listing may end up the subject of a buyers’ competition, which means you’ll ideally have offers above your asking price!

Pricing real estate can be a daunting task. Fortunately, the modern world offers a plethora of information to help us get to the right asking price more efficiently. This includes valuable information about comparables, as well as significant steps like the seven aforementioned. Also, remember that your real estate professional can offer valuable assistance in pricing your home.

Filed Under: Home Sellers

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Crystal Dickens

Crystal Dickens

Lake Gaston North Carolina
& Virginia Real Estate
(252) 326-4194
Contact Crystal
Listing Alerts Your Home's Value

Categories

  • Home Buyers
  • Home Sellers
  • Listing Videos
Follow Me
Instagram post 18008178847956950 Instagram post 18008178847956950
Hard to imagine a time when Lake Gaston Coffee was Hard to imagine a time when Lake Gaston Coffee was not an option for fueling my Mondays and the Multiple Offer process !  Grateful for kind and hard working sellers who deserve all the great offers heading their way !!! #monday #coffee #realtor #lakegastoncoffeecompany #listingagent #strategicpricing #lakegaston
This one is going fast ! Love this quintessential This one is going fast !  Love this quintessential Lake Gaston a-frame. Lots of love and memories shared here by the sweet family moving on to new adventures.  Time for a new owner to start creating their own Lake Gaston legacy. 

Crystal Dickens & Co 
Pointe Realty Group 
2357 Eaton Ferry Road
Lake Gaston
Ph 252-326-4194

#waterfront home 
#Lake Gaston
#investment
#lakehome 
#lakegastonhomes 
#Lakehomes 
#waterfront 
#forsale
#realtorlakegaston 
#Crystaldickens 
#aframe
#nature
#lake 
#listings 
#rental
Instagram post 17972715779384205 Instagram post 17972715779384205
I’m loving this forecast for 2024 ! I’m loving this forecast for 2024 !
Instagram post 18258222109165417 Instagram post 18258222109165417
Come check out five favorite things about my new l Come check out five favorite things about my new listing at 5 Summer Place and then visit LakeGastonSummerPlace on the web to get all the deets ! 
Crystal Dickens & Co 
Pointe Realty Group
Ph 252-326-4194

#reels #newlisting #lakegaston #vacation #rental #waterfronthomes #logixfoundation #custom #realtor #summerplace #crystaldickens
I think my smile says it all ! I am so grateful to I think my smile says it all ! I am so grateful to represent this beautiful Lake Gaston waterfront home and the owners who have meticulously cared for it !  Check out lakegastonoasis.com for all the details. 

Crystal Dickens
Pointe Realty Group
Littleton NC 27850
Ph 252-326-4194
Love it when a plan comes together ! #lakegaston # Love it when a plan comes together ! #lakegaston #realtor #listingagent #listings #lakehomes #waterfrontliving #strategy #waterfronthomes
This one already has 15 showings booked in less th This one already has 15 showings booked in less than 8 hours !  There is still time to get here and I hope you will !  Message me to sign up to receive all the Lake Gaston market updates and new listing alerts ! 
⌨️CrystalDickens@gmail.com
🤳252-326-4194
Crystal Dickens& Company 
Pointe Realty Group 
2357 Eaton Ferry Road 
Littleton NC 27850
Instagram post 18014416321702954 Instagram post 18014416321702954
Did you know that North Carolina is a “due dilig Did you know that North Carolina is a “due diligence” or “as-is” purchase state and that a seller may refuse to make repairs ? “Due diligence” is the period of time that a buyer negotiates in exchange for monies paid to the seller to conduct inspections, obtain financing and attempt to negotiate repairs. A buyer may back out for any reason during the due diligence period but loses any due diligence fees paid to the seller.  In a sellers market, buyers need a solid strategy to navigate the risky waters of due diligence.  This home received multiple offers and my clients won but not without much consideration of the due diligence process.  Whether buying or selling it’s important to understand the terms of of your real estate contract.  Can’t wait to get this one to a successful and happy closing! 

Crystal Dickens 
Pointe Realty Group 
Licensed NC  and VA 
2357 Eaton’s Ferry Road 
Littelton NC 27850
Ph 252-326-4194
We had the pleasure of volunteering our Malibu M22 We had the pleasure of volunteering our Malibu M220 today for the #justridetour with super athlete @becgange. She taught a couple of kiddos to wakeboard in an hour and gave our own kids some great tips for improving their skills. Fun to meet a female Pro and she inspired our girl  to ramp up her wakeboarding game.  Thanks Bec!!! #wakeboarding #lakegaston #lakelife #afwake
20 years and Lake Gaston sunset chasing is still 20 years and Lake Gaston sunset chasing  is still my favorite ❤️ #lakegaston #lakelife
Round two or three or four. See you on the lake ! Round two or three or four.  See you on the lake !
Happy to be a sponsor of @afwake and water sports Happy to be a sponsor of @afwake and water sports on #LakeGaston !  We opted to rep from the water today !  See you out there !  @inlandboatcompany @afwake
Well that was fun! Hit the mountain bike trails to Well that was fun! Hit the mountain bike trails today with family ! Thanks @lakegastonoutfitters for my new Marin ! #mtblove #marinbikes #lakegaston
I am so honored this family chose me to represent I am so honored this family chose me to represent this Lake Gaston “unicorn”. Check out the video to see this incredible shoreline and make your appointment before this magical property is legend.  Shown by appointments only - occupied. 

168 N Triton Drive 
Littleton NC 27850 
MLS # 131916
presented by: Crystal Dickens, Pointe Realty Group 
2357 Eaton Ferry Road 
Littleton NC 27850 

#Lakegaston #realtorlakegaston
#lakegastonhomes #lakehome #Lakegastonvacay
#Lakehomes #vacationhome
#Crystaldickens #lakehomesforsell #waterfrontliving
#peninsula #unicorn
These are the days. #nashville #taylorswifterastou These are the days. #nashville #taylorswifterastour #taylornation #taylorswift #yolo
67 degrees water temps today which should feel war 67 degrees water temps today which should feel warm but not to me !!!! It didn’t stop this one from slaying his first surf sesh of the season ! #lakegaston #afwake #lakelife #wakesurfing

Footer

Crystal Dickens

(252) 326-4194
Contact Crystal
  • Email
  • Facebook
  • Instagram
  • YouTube

sitemap   •   admin   •   ©2023 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com

Cleantalk Pixel