Making Sure The Price Is Right

Your home is your castle, and after all the years and wonderful memories that it has brought you, you have decided to put the castle on the selling market.

You may have invested lots of money on upgrades in your home, kitchens with granite counter tops, solid wood cabinet doors, and stainless steel appliances. There's now crown molding and hardwood floors in every room. Perhaps you decided to put a Jacuzzi in the master bedroom or added a garage or two.

Many homes that are being listed as “For Sale by Owner” are priced based on what the owner may believe to be a fair market value for their property. It is the property owner’s privilege to set whatever listing price that he or she may choose to — so why is the phone not ringing off the hook?

If a house is priced unrealistically for today’s market, that could make it very difficult to generate buyer activity to the home. The buyer may not feel that you are motivated enough to sell and therefore may shy away. 

Knowing how much your house is worth is an important first step to marketing. A real estate agent/broker is prepared to offer their knowledge, information and expertise. They can help you find the perfect selling “market value” for your home using a competitive market analysis (CMA).

A CMA is an analysis of market activity among comparable properties in your area. It is determined by comparing recently sold properties similar in location, size, age, style, and amenities to the seller‘s property.

A CMA is not to be confused with an appraisal — which is a much more comprehensive and technical procedure used to determine the value of your home. They can provide you with a professional and unbiased estimated value of your home in an impartial and objective manner. An appraisal should be performed by a licensed or certified appraiser, according to state law.

A house that is priced right will generate much more activity with interested and qualified buyers. 

When your home is finally sold it may just be the right time to find that new home priced just right for you.

For a list of licensed appraisers in the State of Rhode Island please refer to the following link: http://www.dbr.state.ri.us/divisions/commlicensing/realestate.php 

For a list of licensed Real Estate Brokers/Salespersons contact the State of Rhode Island Department of Business Regulation at:  www.dbr.state.ri.us/divisions/commlicensing/realestate.php

Rhonda Sasa is a Johnston resident, member of our Mom's Council, and a licensed REALTOR® with Exit Realty The New Generation. Reach her via e-mail at rhonda@exitgeneration.com