When it comes down to deciding upon a listing price it takes some real work. You and your agent need to take a long careful look at what active, pending and solds. Then compare those properties to your own home. Pay attention to size (price/ sq.ft), condition (have there been upgrades or is there deferred maintaince on the property) and location (quiet street vs. busy corner) because these issues add or subtract value to a property. It may help to go take a look at the properties you are comparing yours to - especially those that have sold. If you can't get inside take a drive by and check them out that way. You can only see so much from pictures on the internet. I would also suggest you tour some open houses in your neighborhood this weekend.
It is a very competitive market for selling homes today. The listing price is crucial because there are fewer buyers than homes for sale and you want to make sure those buyers don't skip past your home because your aren't price competitively.
Keller Williams Realty
One of the problems with an adjusting market such as the one we are in is that sellers too often miss the boat on the bottom of their local market. Case in point..... had a customer that turned down an offer of $410,000 for their home and sold it 18 months later for $320,000. Does this make sense?
You need to decide if you really want to sell and decide on a price that today's buyers can't afford to walk away from. Make your home the best home offered at the best price and it will sell.....anything less will delay your future plans. Your agent may be too nice to tell you but think about being real close to the low number.
Most agents are not going to get more specific until you decide to work together.
Tom Inglesby, Broker
RE/MAX Equity Group Inc
First, talk to a second Realtor and get a second CMA.
Second, actually tour the properties on the market that are similar to yours. The CMA will probably be based both on recent sales and on what's currently on the market. Get an "up close and personal" feel for your competition. That should give you a much better idea of the price range your home will fall into.
Hope that helps.
Take a good honest look at the competing homes for sale in your area and see exactly where you fit into the price equation. In the high 300's or middle?
All the best,
The R/E MAVEN
A quick review of the Portland MLS shows that there are a number of properties priced BELOW what they appraised for. Iâ€™m not sure Iâ€™d spend the extra money unless itâ€™s a rare and difficult house to comp out.
In this declining market, price is key â€“ youâ€™re better off to price near the lower end of the range and generate multiple offers, rather than price at the high end and get few showings. There is almost 11 months of inventory in the Portland market â€“ buyers have much to choose from.
If youâ€™d like a free no-obligation CMA, just call me!
RE/MAX Equity Group