Continued from page 1
To effectively market your property, you must have an accurate Comparative Market Analysis done for
area, and it must be given enough time on
market to bring
correct price. If your home sells in 5 - 10 days, it's usually selling too cheap. There IS a buyer for every home. You just have to give it adequate time for
market to bring
two together.
If you have not received a favorable response to your showings, there is only one part of
equation that can be changed: your price must be lowered. You can either face this fact now, or deal with it much later, after months of being on
market. Run a second Comparative Market Analysis because, yes,
market in certain areas does,and will, change.
And one more key point to remember when deciding your homes value and marketing. Tax Value or Assessed Value means nothing! This is just a value
tax department assesses on your property to determine how much you'll pay them in taxes. It's almost always too high.
Also, If you've had your home refinanced, 8 times out of 10, it's too high. Why? Because appraisers for a refinance are not held accountable, while appraisers at initial purchase are. That's why you may hear some stories about
appraisal "not coming in" before close of an initial purchase transaction. Refinance appraisers work for
lender. Don't let a refinance appraisal influence your calculation of actual market value of your home.
So what does all this teach us? Price it right
first time. Allow enough market time to get true market value for your home. You'll save yourself alot of time and frustration.
The following chart is a national market average.
Sold within: Percentage of Homes 1 Month 40% 2 Months 7% 3 Months 7% 4 Months 20% 5 Months 10% 6 Months 7% 7 Months 9%
If your property isn't sold within 30 days, a price adjustment should be made!
Statistics are based on National average of homes sold.
http://www.scottriggsbee.com/gold_howlong.asp

Scott Riggsbee has been actively involved in real estate for 10 years and loves bringing buyers and sellers together. You can access tons of free information at http://www.scottriggsbee.com anytime day or night.