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Pricing Real Estate Market Analysis

Pricing Real Estate Market Analysis

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Pricing Real Estate Market Analysis. Any agent could price a home to sell without doing a thorough market analyses. Yet, should the price be too high?.. and comparative houses within the immediate area sold at a lesser price! the house will not sell. In time to come, the owner will sell his house. But at a reduced price in line with the market-related price of that particular area.

 

 

 

Pricing Real Estate Market Analysis

It’s improper to price a home, hence without establishing its true market-related price. This is about similar homes, sold in your residential area. Also taken into account is that purchasers within the market, determine the market price. Only they know what price they would like to buy for.

 A house normally has four attributed prices!

  • What the Seller thinks it’s worth… Pie in the sky attitude… as much as possible.
  • The Comparative Market Analysis… A thorough assessment conducted by an agent.
  • What the purchaser would likely offer to pay… What he can afford to pay.
  • The final negotiated settlement price….

Be cautious not to over-price or you may jeopardize a sale

  • Prospective buyers become disinterested
  • Genuine legitimate offers eliminated
  • Agents become disillusioned, and weary towards seller
  • Financing becomes a problem due to high escalating acquisition costs
  • A late forced sale would lead to a lower sales price.

Statistics have proved the following phenomena

  • Should your house list within 10% of the market value it would take ± 30 days to sell.
  • If your house list within 20% of the market value it would take ± 60-90 days to sell.
  • Therefor your house list within 40% of the market value it would take ± 100 days to sell.

Pricing Real Estate Market Analysis

  • An important note: The current market conditions determines the value of your property…

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