My Home is Worth What?
By Elizabeth Hanson The Callan Team Keller Williams Realty Partner/Agent www.personalhomesearch.com
Ever notice how many experts crawl out of the woodwork when it comes to selling real estate? Uncle Joe thinks the price should be over the top because a friend of a friend of his sold a colonial just like yours three years ago. Neighbors Bill and Carol want you to set a high price because they think your price will increase their home's value. If you're being relocated, your company may want you to set a lower price so it will sell quickly and you can move on to your new assignment. Your thoughts on the price probably include what you paid for the house, how much you've spent on it, or how much profit you think you deserve. But who REALLY knows what your home is worth?

When putting your home on the market, it is fair to say that you control the asking price but it is more accurate to say that the current market conditions determine the selling price. The correct asking price is critical from the outset. That's where a good Realtor comes in. We are able to advise you a bit better than Uncle Joe, your neighbors, your company and even you when it comes to setting a realistic price.

First we study the recently sold homes in your area including the prices, features, time on the market, and motivation of the sellers (if known). After arriving at an understanding all of the like homes that have sold, we will take a look at the competition your house will face. How many homes like yours do buyers have to choose from? How long have they been on the market? How are they priced compared to your home? What is the condition compared to yours? We look at the number of buyers out there compared to the supply of homes. Next we look at the direction of the market. If prices are rising, we'll go in that direction. If prices are falling, your home should be priced accordingly. We'll also note how fast homes are selling and how close to asking price they're getting. Last but not least, we'll look at the incentives, inclusions, and disclosures of all of your competition. We will advise you as to how much money in closing costs you can off er, what appliances, curtains, furniture will convey with your property in order to stay competitive. Here's where the shocker comes in: neither what you paid nor how much profit you want aff ects the market value of your home.

The savviest sellers will avoid testing the market and will NOT price their a home a little higher than the market dictates. The savvy sellers can be made to understand by a good realtor that the opposite occurs; sellers who test the market find their homes selling for less than they would have in a longer period of time. Serious buyers only look at homes they can afford. Serious buyers look at all the competing properties and are able to assess for themselves which home deserves the most money. Serious buyers are the first to look at new properties as they pop up on the market. The first few weeks of a new listing is the best time for sellers to have showings. By pricing the home right during the highest traffic period, the sellers are more likely to sell. Serious buyers question why a home has been on the market for so long or why the price has changed so often.

I have yet to meet a buyer who does not have unrealistic expectations; most buyers are looking for the home of their dreams but does the perfect home exist? Even a newly constructed home will have "flaws" according to the buyers. Homeowners who consult with a real estate professional, who listen to the real estate professional (and not Uncle Joe or neighbors) and who follow the real estate professional's advice are, in eff ect, buying insurance for a successful and straightforward transaction, because when it comes right down to the wire, a serious buyer wants to buy and the serious seller wants to sell. As Realtor Professionals, Elizabeth Hanson and The Callan Team are here to help. If you're considering buying or selling, give us a call! 508-864-1012
Elizabeth Hanson
The Callan Team
Keller Williams Realty
Partner/Agent
276 Turnpike Road,
Westborough, Ma. 01581
508-871-7141 x 141 office
508-864-1012 cell
508-842-2915 home
http://www.Mass-Homes.net