Properly Pricing Your House in The Woodlands

Want to Sell your home for more money?

Selling your home is a hectic process that can cause a lot of added stress. In order to reduce the anxiety, your distinguished house in The Woodlands needs to be correctly priced from the beginning. Pricing is probably the most important element of selling your home, especially high-end homes in Alden Bridge in The Woodlands. In order to price your home correctly, you need to do some valuable research. One of the best decisions you can make when preparing to sell your Alden Bridge home is to hire an experienced and knowledgeable team of professionals, The RockStar Group. He has done the research already and knows how to price your home so you will get the best return.

Pricing your home for sale requires you to do several things. Each step is crucial in order to price your property correctly. Pricing your home realistically is one of the most important factors in the sales process.

  • Do a complete Comparable Market Analysis (CMA). A good CMA not only takes into account sales prices from similar homes in the neighborhood, it must also take into consideration similar homes that have sold in the general area.

Another factor in a complete CMA takes into account similar homes that are listed and pending sales on the market, not just those that have already sold. It is also important to consider homes whose listings have expired (they were probably overpriced). Other relevant data includes how many days homes were on the market, as well as the average difference between the sale prices and list prices on homes that have sold. It is a good idea to have a reliable realtor, like Rick Raanes, do a free Comparable Market Analysis. He has access to all the data and will give you a fair evaluation of what price you should list your home at in Alden Bridge.

  • Once that portion of your research is complete, it’s time to analyze all the data. Come up with three prices, based on what homes are on the market now and current market conditions. Is it a buyer’s market? If so, you may need to list it below similar properties in the area. If it is a seller’s market, you may be able to get away with padding the listing price just a little bit. Remember that the taxed value of your home is not the market price.
  • Once you have scoped out the market, think about the minimum you will accept. Find the price that is just below what other comparable homes have been selling for and your bottom line.
  • Next, you need to know current interest rates. When rates are reasonable, it is much easier to sell your home and get a slightly higher price. However, if interest rates start to edge up and increase, it will be harder to get a higher asking price.
  • Take into account the time of year and season. Spring and summer are the best times to list your home for sale in The Woodlands. Fall is not as good, but it is still a marketable season. Homes that go on the market in the winter tend to spend more days on the market and have less interest from potential buyers.

Pricing your home correctly is necessary to a smooth going sale process. Not pricing it right can have detrimental effects on the sale process. Several things happen when a home is overpriced.

  • After your home has been on the market for an average of 21 days, interest in your home decreases.
  • When interest in your home languishes, the next step is to drop the selling price. When buyers see that the price has been discounted, they often wonder what is wrong with the home. The longer the home stays on the market, the deeper the discount from the original asking price when the home is sold.
  • Buyers know the market, too, and will avoid a home that seems more expensive than similar households in the area. Buyers always want to feel like they got a good deal. If it is overpriced, it is likely they won’t even look at your home. Look at the comparable real estate sales data as if you are the buyer when pricing your home.
  • In the modern age of technology, buyers no longer have to rely solely on realtors to see listed homes. Real estate search engines operate in the same way other search engines work, the buyer types in the data, and voila, a list of properties within the parameters they selected appears. They choose the price range. If your home is overpriced, it is likely that your home will not show up in these searches.
  • When an offer is made on your home, all lenders require an appraisal prior to loaning the buyer the funds. When your home is overpriced, and the appraisal comes back lower than the offered price, the lender is less likely to approve the loan, and the buyer moves on to another property.
  • Overpriced listings usually expire without being sold, and then require relisting. Homes can be labeled as “having a problem” when they stay on the market for an extended period.

It is important to be aware and active when you set the listing price for your home for sale. Having a good real estate agent that will advise you on the best price to list your home for sale will ensure you end up getting the best offer on your property. If you remain realistic in pricing your Alden Bridge Woodlands home for sale, it will help you accomplish your ultimate goal of selling your home. When it comes to Alden Bridge Woodlands homes for sale, the greatest asset you have on your side is Rick Raanes and The Rock Star Group.

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