Pricing a Home to Sell in Apopka Florida
On the surface, pricing a home to sell may seem simple. Most homeowners have a figure in mind on what they believe their home is worth. Unfortunately, that figure is not always accurate. The real estate market fluctuates frequently based on market conditions and seasons. It is important to take many factors into consideration when pricing your home. Pricing is actually one of the most critical factors to selling, so it is important to get it right. Below are a few key factors to pricing a home to sell in Apopka Florida.
Since the market is constantly changing, reviewing recent sales is critical to pricing a home properly. Comparable sales are also used by appraisers to justify the value of a property to mortgage lenders. Ideally, a property should be compared to similar homes that sold within the same neighborhood. If none are available, then homes in other similar neighborhoods (within the same city or town) can be used instead.
It is helpful to review the amount of real estate inventory available. Pricing a home to sell in Apopka Florida will be different in markets or neighborhoods with plenty of listings versus those with very little for buyers to choose from. Evaluating your competition also helps you determine which price point may be most ideal for a quick sale.
Desired Time Frame
Your real estate agent will often determine an ideal price range for your home to sell in the current market. Where within that price range you should list depends on how quickly you need to sell. A more aggressive pricing strategy will often shorten the selling time frame.
Dangers of Overpricing
It is common for sellers to want to list high and see if there are any takers. However, this strategy can backfire and result in a lower selling price in the end. Why? The first few weeks of a new listing are the most critical. If your listing is clearly overpriced, it will not gain the attention and interest that it deserves. Interest from multiple buyers is what sells homes quickly and for higher prices.
By the time you decide to reduce your list price to something more reasonable, the listing will have aged and therefore not receive as much attention. Many buyers assume that if a home doesn’t sell within a certain amount of time, then “something must be wrong with it”. That perspective from buyers certainly won’t help you obtain a very high selling price.
More on Pricing a Home to Sell in Apopka Florida
Properly pricing a home to sell in Apopka Florida requires knowledge of the local real estate market, recent sales, current competition, etc. Sometimes it can be difficult to objectively price your own home because you are naturally emotionally invested. Working with a local real estate agent ensures that you receive professional, knowledgeable, and objective advice and guidance. In the end, that will benefit you in the form of a quicker sale and higher selling price. For a free market analysis on your Apopka Florida home, contact our team today!