Pricing Your Home :. NC Pittsboro: Cindy Brudvik Davis - RE/MAX Southern Advantage Pittsboro, Chatham County NC, Pittsboro NC

Pricing Your Pittsboro, Chatham County, or NC Triangle Home

Location, condition, and price are the three most important factors to consider when selling your home. While you typically can't change the location, see Preparing Your Home for tips on ways to make the condition of your home attractive to buyers.

Home pricing strategies should always be carefully tailored to current market conditions, and it's also helpful to "Think like a buyer".

THINK LIKE A BUYER

In setting the list price of your home, be aware of a buyer's frame of mind. Based on a list of houses for sale in your neighborhood, Pittsboro, Chatham County, and the NC Triangle, buyers will determine which houses they want to view. Consider the following pricing factors:

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. In the buyer's list of houses, yours simply looks too expensive to be considered. Studies show that homes priced 3 percent over the correct price take longer to sell.
If you price too low, you will short-change yourself. Your house may sell more quickly, but before it has enough time on the market to find a buyer who would have paid more.

WHERE TO FIND ASSISTANCE

To determine the proper list price, contact me to provide you with the following professional services:

Furnishing comparable sales
Analyzing current market conditions
Estimating your net proceeds

USING COMPARABLE SALES

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 paying in the past few months for comparable homes in your neighborhood, taking into consideration how they compare to yours in terms of size, upkeep, and amenities.

I can furnish data on sales figures for those comparable sales, and analyze them for a suggested listing price range. The decision of where to price your home is completely yours, but I can help you by giving you a realistic snapshot of what buyers are actually paying for similar properties. The analysis that I perform will include recent sales, houses currently on the market, and homes under contract but not yet closed.

CONSIDER MARKET CONDITIONS

A Comparative Market Analysis (CMA) will include Days on the Market (DOM) for each comparable house sold and those not yet sold. When it's a "Seller's Market" and home prices are rising, houses may sell in a few days. Conversely, when it's a "Buyer's Market" and sales slow down, the average DOM can run into many months.

I can tell you whether your area is currently in a seller's market or a buyer's market. Remember, all markets are local - there is no such thing as a National Market. In a seller's market, and depending on your desired timeframe for selling, you can price a bit beyond what you really expect, just to see what the reaction will be. In a buyer's market, you should set your home price as close as possible to what recent sales have been.

COMPARATIVE MARKET ANALYSIS VS. APPRAISAL

The CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales, while a CMA includes properties currently listed for sale and those currently under contract. In addition, an appraisal is performed for a fee, while the CMA I provide is at no cost to you.

In the average home sale, a CMA is probably enough to enable you to set a realistic price. A formal written appraisal can be beneficial if you have a unique property, if there hasn't been enough activity in your area to provide recent comp's, if co-owners disagree about price, or any other circumstance that makes it difficult to put a value on your home.

Cindy Brudvik Davis, RE/MAX Southern Advantage, a full service real estate agent in Pittsboro, Chatham County, will work on your behalf to actualize your real estate and home ownership goals in the following NC Triangle towns and communities:

Apex (Chatham and Wake Counties)

Carrboro (Orange County)

Cary (Chatham and Wake Counties)

Chapel Hill (Chatham and Orange Counties)

Fearrington Village (Pittsboro in NE Chatham County)

Governor's Club (Chapel Hill, Chatham County)

Graham (Southern Alamance County)

Holly Springs (Wake County)

Morrisville (Wake County)

Pittsboro (Chatham County)

Raleigh and North Raleigh (Wake County)

RTP (Research Triangle Park)