Princeton Town Topics – Let’s Talk Real Estate – November 18, 2009

THE KEY TO SELLING YOUR HOME

Everyone wants to get the maximum amount possible when they sell their home, but many homes sit on the market because they are overpriced.  One real estate axiom states, “the true monetary value of real estate is what someone is actually willing to pay for it”.

How can sellers arrive at the maximum “fair” price that buyers are willing to pay?  Buyers (and appraisers) make their decision based on comparisons.  While shopping for a home, buyers will visit many similar homes in their price range and measure the features of each one against the price.  They decide which house offers them the maximum value for the price.  Buyers do not expect a home to be a “steal” or dramatically under-priced, but they do expect it to be a fair value.

Sellers must determine the value that their home offers in order to arrive at the right price. Your Realtor can help you determine your price by doing a comparative marketing analysis with other homes in your neighborhood and advise you what buyers should be willing to pay for your home, but the asking price is set by the seller.