The consequences of making the wrong decision are painful. If you price your home too low, you will give away thousands of dollars that could have been in your pocket. Pricing your NJ home for sale too high, and your home will sit unsold for months, developing the reputation of a problem property (everyone will think that there is something wrong with it).
Failure to understand market conditions and properly price your home can cost you thousands of dollars and cause your home not to sell… fouling up all of your plans. Setting the proper asking price for your home is the single biggest factor that will determine the success or failure of your home sale.
Utilizing the latest computer technology and my in-depth knowledge of the market, we will analyze current market conditions in combination with your time needs to identify the correct price range for your home. You can’t afford any “guesswork” in this critical step!
What Determines NJ Home Property Values & Pricing?
Condition
When pricing your NJ home, you must accurately reflect its condition. The general upkeep and presentation of your home are critical to obtaining the highest home value. The condition of the homes roof, plumbing, carpets, and paint all relate to the condition and value. Basic rule: If we can smell it…we can’t sell it!
Terms
The more financing terms and options you accept, the more potential buyers there will be for your property. The pricing of your home must reflect the terms available. The easier the terms, the more valuable your property becomes. This is where the Franko Realty team of professional Affiliates shines! We offer a broad, full spectrum of mortgage products and options to both you and all potential buyers!
Market
Home valuations are influenced by a recession, inflation, interest rates, mortgage availability, competition, and the public’s perception of the general economy. All these factors make up the real estate market. It may be a buyer’s market or a seller’s market. The pricing of your NJ home must reflect the current status or nature of the real estate market. We can not influence the real estate market, however, We can take advantage of it!
Location
The pricing of your NJ home must reflect the homes location. The better the location, the higher the acceptable price. For example, school districts, traffic, and highway accessibility, all need to be considered in determining the price and value of your home.
Over Pricing Your NJ Home for Sale
Franko Realty provides well-researched computerized market analysis to determine the accurate realistic price your home will bear in today’s marketplace. Many agents will tell the seller what they want to hear and agree to list it at an unrealistically high price to get the listing. Then, after you have the listing for a few weeks, start telling the seller that they need to reduce the price. The decisions of which agent to list with and what price to ask are entirely different!
Valuation Myths
- The amount of money you need to get out of the sale of your property does not affect its value.
- What you think it should be worth has no effect on value.
- What another real estate agent says your property is worth does not affect its value.
- An appraisal does not always indicate what your property is worth on the open market.
- What you paid for your property does not affect its value.
