Price – it’s the first thing buyers look at before choosing a house. Everyone has a budget and everyone is looking for a deal. But not many homeowners know where to price their home at. They want to attract buyer attention, but they don’t want to lose out on potential money – which is why having a good real estate agent matters. Understanding current market trends and having in-depth knowledge is a must to setting a price that is beneficial to both buyers and sellers. So, take a look at the factors we use to set a home’s price:

1. The Home: Condition & Amenities

It’s the home that you’re selling, so it’s the first place we start when determining a price range. After our initial discussion, we’ll come out to your property and give it a self-evaluation. Features we pay close attention to include:

• Condition

  Your home’s condition will set the tone for how buyers will perceive it. As a result, it will affect the price they’re willing to pay. If your home is in pristine condition, it will have a higher value.

• In-home Amenities

  What your home offers buyers is also important. From the amount of rooms to the age of the appliances will all have an impact on pricing. If you have top of the line appliances and there are extra rooms to convert into home offices, buyers will be willing to pay more.

• Curb Appeal

  First impressions matter in real estate. A good looking yard and home is going to create a positive reaction for buyers while a house that needs up-keeping will generate negative impressions. The more appealing your house, the more value it creates.

Learn What Your Home is Worth

2. Location, Location, Location

That phrase (above) is nearly a cliché now — but it’s that important. People want to know how far they need to drive to work from your home’s location. The longer, the less convinced they are to make an offer. Buyers also want to make sure they’ll be located near great schools, so their children can receive a great education. If you happen to be so, then your home’s value will rise. They also want to be located in a safe neighborhood that is convenient to other city amenities (i.e. restaurants, grocery stores, etc). The better the location, the more buyers are willing to pay — so location greatly impacts your home’s value.

3. Current Market Trends

A lot of homeowners think because their home is a 5 bedroom/4 bath luxurious estate, they can ask for any amount on their home, but it’s far from the truth. Even if you have a great home in a great location, you are still dependent on the real estate market. If buyers aren’t buying at the moment, you will have to bite the bullet. The real estate market will determine what buyers are willing to pay, how much they can afford, and so on.

The Tri-Force

Any price suggestion we offer will be based on these 3 factors: Your home, property location, and current market statistics. Together, they give us an accurate picture of what price point will earn you the most money, but what will also catch the eye of buyers. If you’d like to talk about your home’s selling point, contact us today.

Contact Us to Sell Your House

Before you take out the packing tape and start selling your house, it’s important you have all the right information. Making mistakes in real estate can costs thousands of dollars, and if you want your home to get sold quickly (and for top dollar), take a look at these questions homeowners find themselves scratching their head about:

What is the most important factor to selling my house?

Though your home’s location and condition are convincing factors in a sale, I would say the one thing that trumps it all is price. If your home isn’t priced right, you could end up costing yourself months of sitting on the market or losing thousands of dollars. Pricing too low will mean you lost out on money you could have earned. Priced too high, you could lose interest from buyers. That’s why pricing right is so important in real estate.

To set the right price, consult your real estate agent and look at recent market data. From there, you can get a good estimate of where to price your home – to garner attention and earn the most money.

How much is my home worth?

Your home’s value is determined by a number of factors. These range from:

• The home’s location & condition
• In-home amenities & features
• Quality of the neighborhood
• Convenience to city amenities
• Current market trends

Any one trait could have more significance depending on the time and current demand in the area. To get an accurate picture of what your home is worth, use our free home valuation tool.

Learn What Your Home is Worth

How long will it take to sell my home?

There is no set formula for selling a house, and consequently no set time. Some houses could take as little as a week while others take months. It depends on the house and the homeowner’s selling strategy. On average, for a typical 3 bedroom/2 bath house in Ann Arbor, it takes around 60-90 days to sell. Again, I’m stressing on average. The market changes daily and if you’re looking for a ballpark estimate, it’s best to talk to one of our specialists.

How can I help sell my house?

While your agent is busy marketing your home to interested buyers, your job is to keep them interested when they arrive. By that, I mean make sure your house is clean, free of clutter, and properly maintained. Dirty houses don’t sell, and no one is going to pay thousands of dollars for a damaged property. Fix any flaws and make the home decorative.

Other ways you can help sell your house include making the property available for showings and communicating regularly with your agent about sales tactics. Use their advice and listen to what they have to say. Together, you can sell your house for a great value.

Should I make repairs on my house before selling?

Yes, your home needs to be in tip-top shape if you’re looking to sell for the most value. Buyers expect a move-in ready house. If they notice issues, like chipping paint or leaky water pipes, they will be more inclined to buy another house or ask for a decrease in price. By fixing any issues, you can sell your home faster and for more money.

For More Information

If you’d like more information about selling your house in Ann Arbor, feel free to contact us with any questions or concerns.

Contact Us to Sell Your House