As a homeowner, you cannot afford to lose money on the sale of your home simply because you did not take the time to price your home according to its true value. Under-pricing will leave you full of regret – and overpricing will leave you with a home that has not sold. Home pricing is a balancing act, because you need to take into consideration not only the true value of the home, but also the local market conditions.
Some simple techniques can help you determine the best listing price for your home. These are many of the same things that realtors look for when suggesting possible listing prices, but a wise homeowner will walk into a meeting with a realtor already armed with ideal selling prices, rather than letting the listing agent set a price that may or may not maximize the financial return and get the home sold as quickly as possible.
Here Are a Few Key Points to Keep in Mind When Pricing Your Home
» The price that you paid for your home has little impact on the actual value of your home today. This is particularly true if you have lived in your home for several years or more.
» The profit that you hope to gain from the sale of your home has absolutely no impact on the true value of you home.
» You must remove emotion when determining a fair selling price for your home. To potential buyers, your memories are not worth a price increase.
» Your realtor’s assessment of the home’s value may or may not be accurate.
» A real-estate appraisal is a good way to determine the ballpark value of your home, but it does not consider the market conditions under which you will be selling your home.
» The value of your home is really determined by the buyers and the amount that they are willing to pay.
Pricing a home correctly carries many advantages for the seller. As stated above, the buyer is the only one who can really tell you what the value of your home is. Here are some of the benefits that you will achieve when you do the legwork and price your home according to fair market values:
Quick Sale
Any realtor will tell you that the fastest-selling homes are those which were priced properly in accordance with the local real estate market and the features that the homes offered to potential buyers.
Less Updating and Preparation Time
If you price your home according to the fair market value and its current condition, there is little need to update or improve your home. Weekend projects like painting and cleaning will still help to entice buyers, but there will be little need for a serious commitment of your time and energy.
Agent Interest
When the price is right and your home is appealing, agents are much more likely to want to show your home to prospective buyers. Obviously, the more agents who are interested, the more buyers who will see what your home has to offer.
Appropriate Pricing Makes the Home Visible
When you price your home fairly, potential buyers interested in purchasing a home in your price range will be able to find your home through internet searches and agent MLS searches.
Better Buyer Pool
When your home is appealing and the price is fair, agents will bring a better pool of prospective buyers to your home.
Greater Likelihood of Getting Your Asking Price
Buyers realize that there is little room for negotiation when a home is listed at a fair price that is not inflated. Therefore, you have a better chance of getting your asking price.
Look carefully at the reality of the real-estate market. By carefully assessing the market conditions, you may be able to determine just what housing price the market will comfortably bear.
Greater Profit for YOU
When you price your home correctly, your home will probably sell quickly and for the asking price. Therefore, you stand to make a better profit than if the home were to stay on the market for a long time and eventually sell for much less than an inflated asking price.
In addition to the benefits of fair pricing, you need to consider the disadvantages of over-inflating a home’s listing price. These disadvantages can include:
» Fewer showings by agents due to lack of agent interest.
» Fewer interested buyers due to price-range restrictions.
» Appraisers’ concerns that the price is higher than that of comparable properties in your area.
» Overpricing that makes lower-priced homes more attractive, in effect helping other homeowners who have listed their home at a lower price.
To set an accurate listing price, follow these steps:
1.Ask three different realtors to visit your home and provide you with a comparative market analysis (CMA). This report will tell you how much similar homes have sold for in the past few months, and at what price non-selling homes are listed. In addition, you will learn how long those homes that have sold were actually on the market.
2.Go to several open houses in your area to determine the pricing structure being used by other sellers and to find out what features they are highlighting in their homes.
3.Try to assess a per-square-foot price for your home based upon other recent sales and current listings in your area.
4.Look carefully at the reality of the real-estate market. By carefully assessing the market conditions, you may be able to determine just what housing price the market will comfortably bear.
5.Remember that pricing your home correctly will mean that you can move out without having to carry the home for several months and subsequently lowering your price in order to sell.
Conclusion
If you have read this information carefully, you probably now realize the importance of pricing your home according to the local real-estate market and the types of buyers whom you would like to attract. You also understand the many benefits of accurate listing prices, and you have an idea of what might happen if you choose to over-inflate the price of your home.
If you are working with an agent who is recommending that you over-inflate the price of your home, carefully balance the advantages and disadvantages of doing so with respect to your specific situation and the timeframe in which you need to sell the home.
Careful planning and consideration is your best defense in a buyer’s market. Once you have done the necessary research, set a listing price that will help you to sell the home as quickly as possible without underselling yourself.
Re/max Regency
Chris Colgan
703-485-1435
ChrisColganTeam@gmail.com
www.ChrisColgan.com
Wednesday, October 20, 2010
Friday, October 15, 2010
Three Finished Level Single Family Home in Dominion Valley
| Offered at $450,000 15059 Gaines Mill Cir Haymarket, VA
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Thursday, October 14, 2010
Prince William County Real Estate Blog: Justin Timberlake Lists his home for sale
Prince William County Real Estate Blog: Justin Timberlake Lists his home for sale: "According to Zillow.com Justin Timberlake has listed his TriBeca home for sale for $5.25 million. The 'Social Network' star is purchasing an..."
Justin Timberlake Lists his home for sale
According to Zillow.com Justin Timberlake has listed his TriBeca home for sale for $5.25 million. The "Social Network" star is purchasing another condo in Soho.
Chris Colgan Team
Remax Regency
http://www.chriscolgan.com/
Chris Colgan Team
Remax Regency
http://www.chriscolgan.com/
The Real Estalker: Christian Audigier Heaves Hancock Park Pad on the ...
The Real Estalker: Christian Audigier Heaves Hancock Park Pad on the ...: "SELLER: Christian Audigier LOCATION: Los Angeles, CA PRICE: $8,299,000 SIZE: 8,276 square feet, 7 bedrooms, 7 bathrooms YOUR MAMAS NOTES: L..."
Bid For Success in Foreclosure Sales
;
By: John Cutts
Foreclosure sales are perfect venues for finding the cheap repo homes in the market. But not everyone who goes to these auctions can claim that they have been successful in terms of getting the property that they want. It all boils down on the adequacy of their knowledge when it comes to mastering the skills needed in the bidding process.
Know The Basics
Of course, the foundation of having a solid ground to work on in foreclosure auctions is to know how and where to find these events. You may check out the ads in the newspapers or announcements and notices in the sheriff’s office and even notices of sales in public and community walls. These notices often carry with them a few basic information on the properties that are up for grabs in the public sale such as their prices, size and location. Even with these few information, you can already start a good research to know more about these properties.
How To Bid
Generally, the highest bidder takes home the property. If you are a first-timer, you should be prepared to feel an intense excitement over the whole process. The bidding could even be noticeably tense especially if a really desirable property is the one on the rack. You should anticipate the surge in the bidders emotions and not be carried away yourself when it is time for you to bid. Stay calm and focused on your goal.
One way to avoid bidding more than what you can afford for in foreclosure sales is to set and define a limit to your purchase money. Prepare your finances early so that you will not get frustrated and disappointed in the end. When you do not have a defined budget, it is easy to go overboard and you may regret your decision afterwards.
There are also people who, rather than bid in foreclosure sales, wait for it to end and scout those properties that have failed to get successful bids. These properties will revert to the bank’s ownership and will become REO properties. The good thing about REO properties is that buyers can negotiate to further lower the price. However, you should be reasonable when negotiating with the bank. As much as you want to get a good price, do not attempt anything that might turn the bank off or create a bad impression against you.
Author Resource:-> Original Post: Bid For Success in Foreclosure Sales on ForeclosureDeals.com.
Article From Real Estate Pro Articles
Bid For Success in Foreclosure Sales
By: John Cutts
Foreclosure sales are perfect venues for finding the cheap repo homes in the market. But not everyone who goes to these auctions can claim that they have been successful in terms of getting the property that they want. It all boils down on the adequacy of their knowledge when it comes to mastering the skills needed in the bidding process.
Know The Basics
Of course, the foundation of having a solid ground to work on in foreclosure auctions is to know how and where to find these events. You may check out the ads in the newspapers or announcements and notices in the sheriff’s office and even notices of sales in public and community walls. These notices often carry with them a few basic information on the properties that are up for grabs in the public sale such as their prices, size and location. Even with these few information, you can already start a good research to know more about these properties.
How To Bid
Generally, the highest bidder takes home the property. If you are a first-timer, you should be prepared to feel an intense excitement over the whole process. The bidding could even be noticeably tense especially if a really desirable property is the one on the rack. You should anticipate the surge in the bidders emotions and not be carried away yourself when it is time for you to bid. Stay calm and focused on your goal.
One way to avoid bidding more than what you can afford for in foreclosure sales is to set and define a limit to your purchase money. Prepare your finances early so that you will not get frustrated and disappointed in the end. When you do not have a defined budget, it is easy to go overboard and you may regret your decision afterwards.
There are also people who, rather than bid in foreclosure sales, wait for it to end and scout those properties that have failed to get successful bids. These properties will revert to the bank’s ownership and will become REO properties. The good thing about REO properties is that buyers can negotiate to further lower the price. However, you should be reasonable when negotiating with the bank. As much as you want to get a good price, do not attempt anything that might turn the bank off or create a bad impression against you.
Author Resource:-> Original Post: Bid For Success in Foreclosure Sales on ForeclosureDeals.com.
Article From Real Estate Pro Articles
Monday, October 11, 2010
Sunday, October 10, 2010
Thursday, October 7, 2010
BRAEMAR MARKET UPDATE FOR OCTOBER 7, 2010
Braemar Market update for October 7, 2010
There are 14 "ACTIVE" Homes for sale in the Braemar community in Bristow, Virginia at this time. The homes are priced between $234,500 - $475,000. Currently there are 22 Homes in the Braemar community under contract.
Last week one home closed in Braemar
PW7402233 - 10116 PALE ROSE LOOP, BRISTOW, VA 20136 -$256,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There are 14 "ACTIVE" Homes for sale in the Braemar community in Bristow, Virginia at this time. The homes are priced between $234,500 - $475,000. Currently there are 22 Homes in the Braemar community under contract.
Last week one home closed in Braemar
PW7402233 - 10116 PALE ROSE LOOP, BRISTOW, VA 20136 -$256,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
PARADISE MARKET UPDATE FOR OCTOBER 7, 2010
Paradise Market update for October 7, 2010
There are 10 "ACTIVE" Homes for sale in the Paradise community in Manassas, Virginia at this time. The homes are priced between $170,000 - $250,000. Currently there are 16 Homes in the Paradise community under contract.
Last week one home closed in Paradise
PW7317097 - 10836 CAMPAIGN CT, MANASSAS, VA 20109 - $185,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There are 10 "ACTIVE" Homes for sale in the Paradise community in Manassas, Virginia at this time. The homes are priced between $170,000 - $250,000. Currently there are 16 Homes in the Paradise community under contract.
Last week one home closed in Paradise
PW7317097 - 10836 CAMPAIGN CT, MANASSAS, VA 20109 - $185,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
PIEDMONT MARKET UPDATE FOR OCTOBER 7, 2010
Piedmont Market update for October 7, 2010
There are 22 "ACTIVE" Homes for sale in the Piedmont community in Manassas, Virginia at this time. The homes are priced between $299,900- $999,999. Currently there are 12 Homes in the Piedmont community under contract.
Last week two homes closed in Piedmont
PW7340218 - 6056 DUNNBROOK TER, HAYMARKET, VA 20169 - $425,000.
PW7352707 - 5525 ROAN CHAPEL DR, HAYMARKET, VA 20169 - $950,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There are 22 "ACTIVE" Homes for sale in the Piedmont community in Manassas, Virginia at this time. The homes are priced between $299,900- $999,999. Currently there are 12 Homes in the Piedmont community under contract.
Last week two homes closed in Piedmont
PW7340218 - 6056 DUNNBROOK TER, HAYMARKET, VA 20169 - $425,000.
PW7352707 - 5525 ROAN CHAPEL DR, HAYMARKET, VA 20169 - $950,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
KINGSBROOKE MARKET UPDATE FOR OCTOBER 7, 2010
Kingsbrooke Market update for October 7, 2010
There are 6 "ACTIVE" Homes for sale in the Kingsbrooke community in Manassas, Virginia at this time. The homes are priced between $199,900 - 399,900. Currently there are 11 Homes in the Kingsbrooke community under contract.
Last week zero homes closed in Kingsbrooke
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There are 6 "ACTIVE" Homes for sale in the Kingsbrooke community in Manassas, Virginia at this time. The homes are priced between $199,900 - 399,900. Currently there are 11 Homes in the Kingsbrooke community under contract.
Last week zero homes closed in Kingsbrooke
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
HERITAGE FARMS MARKET UPDATE FOR OCTOBER 7, 2010
Heritage Farms Market update for October 7, 2010
There are 2 "ACTIVE" Homes for sale in the Heritage Farms community in Gainesville, Virginia at this time. The homes are priced at $685,000 and $799,000. Currently there is 1 Home in the Heritage Farms community under contract.
Last week zero homes closed in Stratford
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There are 2 "ACTIVE" Homes for sale in the Heritage Farms community in Gainesville, Virginia at this time. The homes are priced at $685,000 and $799,000. Currently there is 1 Home in the Heritage Farms community under contract.
Last week zero homes closed in Stratford
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
SUDLEY MARKET UPDATE FOR OCTOBER 7, 2010
Sudley Market update for October 7, 2010
There are 5 "ACTIVE" Homes for sale in the Sudley community in Manassas, Virginia at this time. The homes are priced between $135,00 - 289,000. Currently there are 22 Homes in the Sudley community under contract.
Last week zero homes closed in Sudley
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There are 5 "ACTIVE" Homes for sale in the Sudley community in Manassas, Virginia at this time. The homes are priced between $135,00 - 289,000. Currently there are 22 Homes in the Sudley community under contract.
Last week zero homes closed in Sudley
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
WEST GATE OF LOMOND MARKET UPDATE FOR OCTOBER 7, 2010
West Gate of Lomond Market update for October 7, 2010
There are 4 "ACTIVE" Homes for sale in the West Gate of Lomond community in Manassas, Virginia at this time. The homes are priced between $199,900 - $274,900. Currently there are 23 Homes in the West Gate of Lomond community under contract.
Last week zero homes closed in West Gate of Lomond
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There are 4 "ACTIVE" Homes for sale in the West Gate of Lomond community in Manassas, Virginia at this time. The homes are priced between $199,900 - $274,900. Currently there are 23 Homes in the West Gate of Lomond community under contract.
Last week zero homes closed in West Gate of Lomond
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
BLOOMS MILL MARKET UPDATE FOR OCTOBER 7, 2010
Blooms Mill Market update for October 7, 2010
There is 5 "ACTIVE" Homes for sale in the Blooms Mill community in Manassas, Virginia at this time. The homes are priced between $259,000 - $460,000. Currently there are 10 Homes in the Blooms Mill community under contract.
Last week one home closed in Blooms Mill
PW7343525 - 8126 BREEZY KNOLL DR, MANASSAS, VA 20111 - $F386,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s valueFind out your home’s value
There is 5 "ACTIVE" Homes for sale in the Blooms Mill community in Manassas, Virginia at this time. The homes are priced between $259,000 - $460,000. Currently there are 10 Homes in the Blooms Mill community under contract.
Last week one home closed in Blooms Mill
PW7343525 - 8126 BREEZY KNOLL DR, MANASSAS, VA 20111 - $F386,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s valueFind out your home’s value
SOMERSET MARKET UPDATE FOR OCTOBER 7, 2010
Somerset Market update for October 7, 2010
There are 6 "ACTIVE" Homes for sale in the Somerset community in Gainesville, Virginia at this time. The homes are priced between $219,900 - $385,000. Currently there are 9 Homes in the Somerset community under contract.
Last week one home closed in Somerset
PW7367472 - 7321 SIDE BAY CT, GAINESVILLE, VA 20155 - $395,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s valueFind out your home’s value
There are 6 "ACTIVE" Homes for sale in the Somerset community in Gainesville, Virginia at this time. The homes are priced between $219,900 - $385,000. Currently there are 9 Homes in the Somerset community under contract.
Last week one home closed in Somerset
PW7367472 - 7321 SIDE BAY CT, GAINESVILLE, VA 20155 - $395,000.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s valueFind out your home’s value
INDEPENDENCE MARKET UPDATE FOR OCTOBER 7, 2010
Independence Market update for October 7, 2010
There are 10 "ACTIVE" Homes for sale in the Independence community in Manassas, Virginia at this time. The homes are priced between $249,900 - $349,900. Currently there are 9 Homes in the Independence community under contract.
Last week one home closed in Independence.
There are 10 "ACTIVE" Homes for sale in the Independence community in Manassas, Virginia at this time. The homes are priced between $249,900 - $349,900. Currently there are 9 Homes in the Independence community under contract.
Last week one home closed in Independence.
PW7419897 - 8719 PHIPPS FARM WAY, MANASSAS, VA 20109 - $267,500.
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
Stratford Market update for October 7, 2010
Stratford Market update for October 7, 2010
There is 1 "ACTIVE" Home for sale in the Stratford community in Manassas, Virginia at this time. The home is priced at $126,797. Currently there is 1 Home in the Stratford community under contract.
Last week zero homes closed in Stratford
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
There is 1 "ACTIVE" Home for sale in the Stratford community in Manassas, Virginia at this time. The home is priced at $126,797. Currently there is 1 Home in the Stratford community under contract.
Last week zero homes closed in Stratford
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/Find out your home’s value
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