HOW TO PRICE YOUR HOME FOR SALE

Shannon Holmes TUTORIAL Leave a Comment

Whether selling your home in Birmingham, Hoover, Vestavia Hills, Homewood, Mountain Brook, Inverness, or the communities along the Highway 280 Corridor to Chelsea, it is important to correctly set the price for your home in order to make your home competitive with other properties in the area.  That is why you need the professional advice of REALTOR® Shannon Holmes, who will provide you with the necessary information to correctly price your home for the maximum return. Several things must be considered when pricing your home :

  • how well the home has been maintained
  • any improvements or repairs that need to be made
  • how quickly that you need to sell
  • and most important of all, the current market conditions.

The market value of a home is generally considered to be the price at which it would sell, as it sits in its current condition, in a time frame of about 30 to 120 days.

If the asking price of your home in Birmingham, Hoover, Vestavia Hills, Homewood, Mountain Brook, Inverness, or the communities along the Highway 280 Corridor to Chelsea should be too high, then these factors could come into play:

  • A decrease in the pool of buyers for your property may occur by placing it out of reach for buyers that might have been interested had it been fairly priced.
  • Your home might be used as an unfavorable price comparison with another property that is more reasonably priced.
  • You will most likely limit the number of showings because other REALTORS® may consider it a waste of time, effort, and gas to bring clients to a home that is out of line with the rest of the neighborhood.
  • Your home will become “shopworn”, and people will wonder why it has not sold.
  • After sitting on the market for what is perceived to be too long, a homeowner will most likely have to reduce the price of the house, perhaps to an even lower level than if it had been correctly priced all along.
  • An appraisal is nearly always required when purchasing a home in Birmingham, Hoover, Vestavia Hills, Homewood, Mountain Brook, Inverness, or the communities along the Highway 280 Corridor to Chelsea.  If the appraisal comes in for less than the amount of the contract, then the agreement becomes void, and negotiations will have to start over.  At that point the buyers may decide to walk away, even if the sales price is adjusted to match the appraisal.  What a waste that would be!

In the end, a correctly priced, well-maintained home is more likely to bring a quicker sale, and for more money. That is why the good advice of a REALTOR® like Shannon Holmes can prove invaluable.

 

Information is deemed reliable but is not guaranteed.

Shannon Holmes (205) 706-3975             shholmes@realtysouth.com

RealtySouth

109 Inverness Plaza, Birmingham, Alabama 35242

About the Author
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Shannon Holmes

Shannon Holmes has been featured in Bloomberg BusinessWeek, as well as many other media platforms, for her real estate expertise. Shannon loves new technology, and is an expert at using that technology to have the most effective real estate marketing possible. Shannon services the Greater Birmingham Alabama areas of the Highway 280 Corridor, Mountain Brook, Hoover, Vestavia Hills, Homewood, Chelsea, Helena, Pelham, and Alabaster. Shannon can be reached at (205) 706-3975, or by email at shholmes@realtysouth.com.

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