Lots of people make the mistake of attaching sentimental value to the real dollar value of their homes—but that can be a huge mistake. So how does pricing a home correctly actually work?
How Your Realtor® Can Help You Determine How Much to Ask for Your Lake City Home
Your Realtor will perform a comparative market analysis, or CMA. The comparative market analysis requires your agent to look at homes very similar to yours in a similar (and nearby) location. Your agent will review:
- Active listings. Active listings are the homes you see that are currently for sale.
- Pending listings. Pending listings are homes that aren’t actually sold yet, but they are under contract.
- Sold listings. Sold listings are houses that have closed within the past six months.
- Expired, off-market, withdrawn, and canceled listings. These are typically homes that the sellers took off the market for any number of reasons, with the exception of expired listings. Expired listings are those that didn’t sell during the listing period. Many off-market, withdrawn, or canceled listings are pulled from the market before the listing expires because the prices were too high—but that’s not always the case.
The Mistake of Asking Too Much for Your Home
If you ask for too much, buyers aren’t going to bite—and then you’ll eventually have to lower the price. Unfortunately, when you lower the price, potential buyers are going to wonder what’s wrong with the home, and at the same time, the listing is going to start to look stale when compared to newer, more appropriately-priced listings.
The longer your home is on the market, the lower the likelihood that it’s going to sell.
The bottom line: Ask your Realtor to help you settle on the right price for your home as soon as you decide to list it. He’ll tell you how your house stacks up against others on the market so you can choose the right asking price the first time.
Are You Thinking of Buying or Selling a Home in North Florida?
If you’re considering buying or selling a home in North Florida, call us at 386-243-0124 or get in touch with us online. Tell us what you’re looking for and we’ll begin our search right away!
In the meantime, check out our most popular real estate listings:
- Timber Tracts
- Vacant Land
- Hunting Land
- Small Farm Land
- Large Farm Land
- Easy to Buy Land
- Residential Restricted Lan
- Manufactured Home Land
- Country Estates
- Cattle and Horse Land
- Land for Land Home Combo
- Fishing Places at the Gulf
- Land 0-25,000
- Land 25,000 – 50,000
- Land 50,000 – 100,000
- Land 100,000 – 200,000
- Land 200,00 – 500,000