Determining the Right Price for Your Home
How do you go about determining the right price for your home? The right selling price for your home is the highest price the market will bear. To help you in determining the right price for your home, I can provide you with a comprehensive market analysis (CMA) of properties in your neighbourhood that currently compare to your home.
The Comprehensive Property Analysis is divided into two categories:
- Similar properties that are currently listed.
- Similar properties that have recently sold or are pending closing.
- Similar properties that have expired and have been taken off the market.
By studying the comparable property locations, features and the terms under which they are offered, we can develop a clear picture of the potential market for your property.
By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from. We can be certain that we are not under-pricing the property.
By looking at similar properties recently sold, we can see what homeowners have actually received over the last few months. This is the ‘acid test’ that is used by lending institutions to determine how much they would be willing to lend a buyer for your home.
Naturally we want top market value for your home, but I think we can agree that there is a point where the price would be too high. By looking at homes that didn’t sell, we can determine that price point and be careful not to overprice. By doing our homework, we should be able to receive maximum dollar in a reasonably short period of time, terms and conditions in your favour with the least amount of inconvenience you and your family.
