Pricing—The Risks You Face
and How to Avoid Them
Pricing Your Fort Mohave Home
When selling your Fort Mohave home, one of the hardest things can be deciding on the price. I’m truly dedicated to getting you the most money you can receive from that sale. In addition, I recognize there are many reasons you may already have a certain price in mind. You may be considering…
Your Original Purchase Price
Chances are you paid market value. However, markets change, and today we have to deal with the current market conditions. If you inherited the property and paid nothing for it, would you sell it for next to nothing? Of course not. You’d price it at fair market value and sell it for what the market will bear.
Improvements should be made for enjoyment not resale. You cannot add an item to a home, select it to your style, use it, then expect a buyer to pay the original cost. Likewise, maintenance preserves the value, but does not create value. If you needed a new roof, it was needed as a maintenance requirement and cannot be added to the market price of your home.
Your Need For Money
Your need for money or the fact that you are moving to a more expensive area where you will have to pay more for a home has nothing to do with the home’s current market value.
The Cost to Rebuild Your Home Today
Construction cost does not take into account market value either.
Your Personal Attachment to the Property
The factors above may influence the price in your mind; but as you can see, they really have nothing to do with what your home is actually worth in today’s market. Over the years, we have often heard these comments from sellers:
“Another agent said it was worth more.”
“People always offer less than the asking price.”
“The buyers can always make an offer.”
“My neighbor was able to get his price.”
“My house is better than these other homes.”
“We paid more than that for our home.”
“We just painted and added new carpet.”
“I need this much money for our next house.”
Although some of these comments may be true, they are not valid when deciding on the right price.
What Overpricing Your Fort Mohave Home Can Do
You will lose the excitement that a new listing generates. Agents are working with buyers who have seen what is currently on the market and are waiting for something new to be listed. Therefore, most activity will take place within the first thirty days of a listing. Your home will probably receive its best offers during this time. After this initial period, the only people who come to look at your home will be new buyers in the marketplace.
This article continues on Sell Your Fort Mohave Home 2