Pricing your home properly is the single most important factor in determining the length of time it will take to sell your home. While too low of a listing price may quickly attract multiple offers, you may end up losing thousands of dollars. Similarly, a list price that is too high attracts the wrong purchasers causing your home to remain unsold. It is critical that we price your home as accurately as possible from the beginning.
How purchasers set a value
Purchasers determine value by the price of the home . . . in relationship to the features and benefits of the home . . . compared to similar homes that have recently sold as well as those being actively marketed (which they also will have viewed and are considering).
How sellers (and their agents) should set a value
To determine the best list price, using the present market conditions and trends, Calibre will perform an analysis, as of today’s date, that compares your property’s specific features and benefits to similar properties … those that have recently sold as well as those that will be in direct competition for your purchaser.
The whole story
It is important to note that neither a competitive market analysis nor an appraisal tells the entire story. Value is determined not only by the market conditions, trends, and comparable properties; it is additionally, and more specifically, determined by the combination of your individual property and situation versus our particular purchaser’s individual circumstance and perception of your property. In other words, the real estate market is created one property at a time. Even one new sale or one new listing is enough to impact list price, a successful marketing strategy, and of course the final sale price.
What is the purpose of the valuation?
Similarly, both market analyses and formal appraisals must be considered in accordance with their purpose. As with all statistics, each opinion of value is designed to meet a particular end. For example, an appraisal designed to obtain refinancing or an analysis designed specifically to obtain a listing might substantiate an inflated price by using parameters that show only numbers rather than to also compare styles, locations, and conditions. Neither of these types of valuations would provide accurate analyses concerning your sale price because they provide zero insight into the information purchasers use to determine value when considering your property.
How does Calibre determine the value of my home?
The purpose of Calibre’s analyses is to determine the fair market value and the proper listing price for your property. The parameters are chosen to provide the most accurate picture of the current market. The basis of reasoning used to reach a conclusion of value is through comparative analyses. My interest is to manage the successful sale and close by promoting your property, protecting your equity, and thereby bringing you the most amount of money.
The price you will ultimately receive will depend upon your motivation, the motivation of our purchaser, and the market conditions at the time an offer is received.
Let us help you!
Give us a call or go to our what’s my home worth page and Calibre Real estate will provide you with a FREE home valuation for your home as long as it is located in the Treasure Valley.
