If you have given any thought to placing your house or condo up for sale, you’ve almost certainly wondered how much you could ask for and what you will receive when it sells. Below we’ll take a look at how your asking price affects your ability to sell your home. To get a free home evaluation and assistance determining what price you should place on your Sierra Vista home, contact the Sierra Vista Home Selling Team today at (520) 452-0400.
The Most Important Aspect of Your Sale
We’ll begin by stating a fact that as a seller you must fully grasp in order to find success: the asking price is the most important aspect of your sale. There are numerous factors that contribute to the price you set, including your location in Sierra Vista, the size and type of home, its condition, recent upgrades, local community amenities and much more. Setting the price accurately can mean the difference between closing the sale in a few days vs. a few months.
Setting your Price Too High
Pricing your home above the market is, in short, a recipe for disaster. Your listing will attract the most interest in the first few weeks after you start the selling process, and savvy buyers and their real estate agents will be assessing your home to see if it’s a fit. If the price is too high, buyers will either pass entirely in hopes of securing a better deal or wonder if they’re in for a lengthy negotiation. Few sellers ever find success by ‘testing the market.’ The best way to sell your home is with a fair, competitive price that suits the Sierra Vista real estate climate.
Setting your Price Too Low
While ‘low-balling’ might seem like the path to a quick and easy sale, that couldn’t be further from the truth. Buyers and agents will see an unexpectedly low price as ‘too good to be true,’ and they may start digging around wondering if there’s something wrong with the house or property. At best, setting too low a price can end up delaying your sale as the buyer works through their due diligence to ensure they’re not getting a lemon; at worst, you end up losing potentially tens of thousands of dollars in the sale.
Understanding Sierra Vista’s Average Market Values
Finding a competitive price isn’t just about your own home – the other homes and properties for sale in the communities around your home will play a part as well. It’s important to have at least some understanding of average prices in the Sierra Vista area and in what direction they’ve been trending in recent months. For example, the median sales price of a home in Sierra Vista from April through June of 2014 was about $145,000; while this is slightly down from the same time a year ago, it’s up by more than 12% against the median price in the three months prior. Knowing how the Sierra Vista market is heating or cooling will ensure you maximize the amount you receive in your sale.
In Over Your Head? We Can Help
If this is a bit too much to grasp – or if you’re simply not interested in trying to handle it all alone – don’t fret; we’re here to help. When you’re ready to discuss your home sale, contact the Sierra Vista Home Selling Team at (520) 452-0400 and in the meantime, be sure to download our free Home Seller’s eBook – chock-full of information about selling your home or condo – by clicking the button below.