How do we determine the price for your property?
Residential real estate investing is a business activity that has waxed and waned in popularity dramatically over the last few years. Ironically, there always seem to be a lot of people jumping on board with investments like stock, gold, and real estate when the market’s going up, and jumping OFF the wagon and pursuing other activities once the market’s slumping. In a way that’s human nature, but it also means a lot of real estate investors are leaving money on the table. By understanding the dynamics of your residential real estate investment marketplace, and acting in opposition to the rest of the market, you can often make more money, as long as you also stick to the real estate investing fundamentals.
Real estate investing, whether you’re buying residential or commercial property, is not a get-rich-quick scenario. Sure you can make some fast cash flipping houses, if that’s your bag, but that is a full time business activity, not a passive, long term investment. The word “investment” implies that you are committed to the activity for the long haul. Often, that’s just what it takes to make money in real estate.
We compare your property with similar properties that have sold in the same market conditions. A sale older than six months may not have anything in common with your property today.
We compare your property with other properties that have sold in the free market, not with short sales or foreclosures which do not reflect the market price. If you want to sell your house for cash and fast in Chicago, Checkout fastest house buying process in Chicagoland by far.
Why price your property at market value?
Serious buyers look in a price range that has been predetermined by their down payment and monthly payment ability. Buyers who are looking in a certain price range soon become very knowledgeable in this range. An unreasonable asking price only discourages them from considering your property.
Buyers purchase by comparison. A property priced above the competition does not “compare” favorably. Pricing a property too high, but inviting a buyer to make an offer, could indicate that a fair price has not been established.
If your plan is to adjust your price at the time of sale, consider this. It is better to adjust the price now and attract serious buyers in your price range. This often places you in the favorable position of having more than one buyer interested in your property.Even if your house is in damaged condition and you need to sell fast due to a stressful financial situation ATLfairoffer provide you a good services,for more visit this page.
It is very difficult to obtain a reasonable offer on an over-priced property. The buyer may feel they should be just as unreasonable in their offer as the seller is in their asking price. Sellers will often be offended by low-ball offers.
By contrast, offers are much easier to obtain on a reasonably priced property. You can then choose which offer to accept with no obligation to one that does not meet your requirements.
It is a mistake to believe that you will get more for a property by asking more. You usually get less, because fewer buyers will consider your property when it is initially placed on the market. The right buyers will not see it, and it usually stays on the market so long that it tends to become “shop worn.”
To obtain proper market exposure, it is an absolute necessity to be competitive in price, terms, and condition with similar properties that are selling in the area.
If you are a serious seller, price your property at market value, and attract serious buyers. You will stand a much better chance of getting a full-market price, and your property will sell much faster.
The benefits of proper pricing are numerous:
• The faster sale of your home will save carrying costs.
• You will experience less inconvenience in a faster sale.
• Your home or land will receive maximum exposure to more qualified prospects.
• Your listing will receive an increased response from other real estate agents, who will help you get the best home insurance from https://www.vitaldevelopers.com/
• Your listing will receive a better response from advertising.
• The perceived value in your home or land will attract higher offers.
• Proper pricing means more money to sellers after closing.
Pricing is about obtaining research data from comparable sold properties, and then assessing the competition to achieve the seller’s goals. The current market is the most powerful force controlling the market value of your real property.