How to establish an asking price for your home
Posted by Steve Harmer on
Everyone wants to get as much money as possible when selling their home, maximizing the cash pocketed or equity gained from the deal and better preparing them for their next purchase.
Market supply and demand fundamentals can provide a starting point to establishing a price, but other variables such as specific characteristics of individual properties, location and a seller’s financial needs and timetable must also be factored in.
It may not be a simple exercise, but it’s a critical one. List a property at too high a price, it might languish on the market and turn away potential buyers. List it too low, you might sell it quick, but you’ll be leaving valuable dollars on the table – or in someone else’s pocket.
“Price it right, and it will sell.…
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If you are thinking of selling you home without the help of an agent, think twice. Though FSBO ( For Sale By Owners) may lure you thinking you could save money on agent commission you have to take into consideration the challenges you’re going to face when you sell your home on your own.
When people buy a home, the fact is that 78 per cent of the decision making process has already been made prior to arrival, based on the price and location of the house. But within seconds of seeing your home, potential buyers have formed an opinion of its overall condition and will likely spend the remaining time looking for consistency with the assumptions they made when they first viewed the home on the Internet. First impressions of the property’s exterior should be “welcome home.”