In North Oklahoma City, the houses are in lots and buyers can definitely get more for their money. There is a high prevalence of older houses available here. It looks that this area is more neutral for the buyers as well as for sellers. Overall, the market has been absolutely well.
The Oklahoma City Metro area is surrounded by many small suburbs like Yukon, Mustang, Edmond, Bethany, Deer Creek, Tuttle and Moore, are vigorously growing area with a strong heartbeat and active lifestyles. The Oklahoma City Metro is becoming increasingly familiar. Don't miss your chance to live in this great metropolitan area. All these areas are easily commute with the Oklahoma city. This area posses many sleepy little towns which imparts the small hometown feeling. Oklahoma city is the great place to live, work, shop and enjoy.
Showing posts with label Pricing your home. Show all posts
Showing posts with label Pricing your home. Show all posts
Thursday, November 1, 2007
Thursday, October 25, 2007
How should you price your home?
As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you'll sell your home faster, at the best possible price.
In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood , buyers will determine which houses they want to view. Consider the following:
If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than others in the area. You may have told your REALTOR® to "Bring me any offer." But in that list of houses, yours simply looks too expensive to be considered.
If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.
No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours.
Wyatt can furnish data on sale figures for those "comps", and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales we bring to you, along with data about other houses in your neighborhood presently on the market, is used for a "Comparative Market Analysis (CMA)." To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices. This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by us and may include properties currently listed for sale and those currently pending sale.
In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.
To find out what your Oklahoma home is worth in today's market go to: http://www.wyattpoindexter.com/ and fill out the seller information.
http://www.wyattpoindexter.com/
In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood , buyers will determine which houses they want to view. Consider the following:
If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than others in the area. You may have told your REALTOR® to "Bring me any offer." But in that list of houses, yours simply looks too expensive to be considered.
If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.
No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours.
Wyatt can furnish data on sale figures for those "comps", and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales we bring to you, along with data about other houses in your neighborhood presently on the market, is used for a "Comparative Market Analysis (CMA)." To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices. This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by us and may include properties currently listed for sale and those currently pending sale.
In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.
To find out what your Oklahoma home is worth in today's market go to: http://www.wyattpoindexter.com/ and fill out the seller information.
http://www.wyattpoindexter.com/
Wednesday, August 15, 2007
Dropping Your Sales Price
If you start out selling your home with a high sales price, then drop it later -- your house is "old news." You will notbe able to recapture that exciting activity you would have had with a realistic price. Your house could take longer to sell.
Even if you do successfully sell at an above market price to an uninformed buyer, your buyer will need a mortgage loan. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the house won’t appraise. Your deal falls apart. Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen.
Your house could go "back on the market."
Once your home has fallen out of escrow or sits on the market awhile, it is harder to get a good offer. Potential buyers will think you might be getting desperate, so they will make lower offers. By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received.
Even if you do successfully sell at an above market price to an uninformed buyer, your buyer will need a mortgage loan. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the house won’t appraise. Your deal falls apart. Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen.
Your house could go "back on the market."
Once your home has fallen out of escrow or sits on the market awhile, it is harder to get a good offer. Potential buyers will think you might be getting desperate, so they will make lower offers. By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received.
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