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8 tips to put the right price on your home in a bear market

In these times, real estate firms often have to be used thoroughly to convince the seller that the price they estimate for their home is too high and unrealistic with the current real estate market. Therefore, the owner of a flat for sale must know the current circumstances and know the high competition that exists […]

In these times, real estate firms often have to be used thoroughly to convince the seller that the price they estimate for their home is too high and unrealistic with the current real estate market. Therefore, the owner of a flat for sale must know the current circumstances and know the high competition that exists when there are many homes for sale at the same time as his

The first thing to know to put a suitable price is what is the market value of my house?

In a cold way, the market value is defined as “the estimated amount at which an operation can be carried out successfully between two parties who are aware of the current situation and who act prudently and without coercion”

In the same way, it is necessary to define, what is not the market value of my home?

  • It is not the price you paid for the house plus commissions and improvements made
  • It is not the price that your friend, lawyer, family member or neighbor says unless you are willing to buy at that price
  • It is not the price you paid plus an annual increase since then
  • It’s not more than the price at which your neighbor sold because you like your house more

Once this is known, there are a number of tips and recommendations to put a suitable price on your home also calculate by cubic yards calculator and increase the probability of sale:

1) You have to be objective

Even if you are selling your house and all the memories you have had inside, you have to get it out of the price. Buyers see more the location, location, quality, size and condition of it

2) Forget what your house was worth

Although until recently many thought otherwise, the real estate market is like the stock market, the value may go down. So, be objective of the price that your home can have today and forget about what it had six months or three years ago

3) Don’t think an innocent will appear

Some think that their real estate firm will find someone willing to pay more than the market value of your home. That almost never happens, so you should not have faith in that possibility

4) How much will your home be worth in the future?

In a bear market like the current one, it is very important to see the situation. If you reject an offer today you may have to accept a lower one later as it has happened to many people.

5) Thoroughly analyze the market

This is where a real estate firm can be very useful. The right price is not reached in five minutes. You have to see the surrounding homes that are for sale, try to find out how much they have actually sold the latest in the area and study the prices of those that have been in the market for a long time and are not sold. Then, you have to compare everything objectively with your flat and try to get an adequate price.

6) Good marketing does not justify a higher price

A good marketing campaign (varied ads, open day, publish it in numerous portals, create the best plans and other ideas to highlight your home) does not justify putting a higher price on your home or your neighbor’s

7) Consider recent appraisals

If you do not want to get your hopes of selling your home and then the bank will take down the transaction for the appraisal you must be up to date with the appraisals or price reports of the area. It is useless to reach an agreement on the price with a buyer if you need a mortgage and the bank does not give it to you because the valuation is low. Therefore, we must go according to the ratings

8) Make your offer irresistible

Buyers simply want to buy the best house at the best price and know the homes that are for sale around you. Ask your real estate agent to take you to see other houses for sale that are your competition and will help you put a good price in addition to knowing their weaknesses. If your house does not have its problems, you can highlight to the buyers the benefits of your house in aspects that you know others are lacking. This section fits from the location within urbanization, orientation, noise … you must create value in your home so that your potential buyers value it.

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