There are many reasons why you should consider hiring a real estate agent to help you sell your Loveland area home, but one of the most important reasons is to help you settle on a fair price (for both you and the buyer). Many home sellers aren’t aware of how to properly price their home, which often results in their house sitting on the market for months because it’s priced too high or it loses you money because you underpriced your home. The following are the factors that we use in order to determine the market value of your home:
1. Considering the Home’s Features
One of the first things we do in order to determine the proper pricing of your home is to visit it in person. With a closer examination at the property, we can get a good, initial gauge for what your home could be valued at. The following are some of the things that we will look for when inspecting your home.
- Curb Appeal – The curb appeal includes things such as the shape of your property’s landscape, the size of your outdoor property, the shape of the home’s exterior, the view of your home, and even smaller details such as porch planters, mailboxes, window boxes and more.
- Structural Integrity – We will pay careful attention to any structural or construction issues. Serious issues will need to be fixed before the home is listed.
- Design– The house will also be judged based on its design and age in order to determine whether the style of the home is timeless or outdated.
- Rooms – The amount of beds and baths that a home contains has a big effect on the pricing of the home.
- Appliances and Equipment – We pay special attention to the age and condition of all of the home’s appliances and equipment, including HVAC units, electrical systems, plumbing, kitchen appliances and more.
2. The Neighborhood of the House
Your house may meet every high standard there is – it could be a beautiful home with four bedrooms and three baths, state of the art appliances, brand new equipment, and sky-high curb appeal, but if it’s in a terrible neighborhood, then the value will plummet. The neighborhood has a huge impact on pricing your home.
3. The Location of the House
You may have an amazing house in an amazing neighborhood, but if the city is planning the construction of a freeway through your backyard, it’s going to affect your home’s value. However, if your home is a five minute drive from a major road, then the location can benefit the pricing of your home.
4. Comparative Marketing Analysis
We will study the local housing market in order to compare your home to similar homes, paying careful attention to how many homes are listed in your area, the average length of time similar homes sit on the market, and the average amount of money that they end up closing for. We will also take note of what types of buyers are looking – whether they are local or not. As we begin to compare your home to other similar homes in the area, we can get a good gauge as to what we can list for (depending on market conditions).
How We Price Your Home to Sell
Whether your home is decades old or only a few years old, a real estate agent is crucial to helping you determine its value. Even a home that is only a few years old may have experienced a major shift in value due to any number of reasons, from a demand for housing in the area to the change in the neighborhood and much more. Because pricing your home under its value or over its value can cost you money, its best that you work together with a real estate agent to determine the proper price point.