Coldwell Banker Countryside, Realtors

• Over 10 years of real estate marketing experience, and over 18 years property management experience.

• Virtual Tours, Complete Internet Marketing of all property listings which is the best way to market your property to not only local cliental, but potential buyers all over the world.

• Going the extra mile to find you the perfect property, or buyer for your property, No listing or client is too big or too small that they do not get our complete attention!

The Right List Price
The right list price is critical when listing your home. Setting the list price is dependent on many factors some of which are:

• Market Conditions
• Sales price of recently sold comparable homes
• Seller input
• Upgrades such as the view, lot size, etc.
• Your time frame
• The list price of other similar homes currently for sale

It can be difficult to pinpoint the exact price that a home will sell for. A custom home set on the beach with ocean views can be much more difficult to price as opposed to a cookie-cutter tract home in a stable neighborhood. The custom home is unique and can be harder to comp where the tract home is easy to compare to other homes in the neighborhood with the same floor plan. A good listing agent will be able to give you a narrow range where your home should be priced.

Check the Sales Comps
It's important to closely check the sales comps provided by your agent. Look at the properties that have sold within the last 6 months. Try to pick homes that are similar in condition, location, and floor plan. If you would like sales comps for your neighborhood fill out our questionnaire and I can e-mail you the information. Here are the criteria that should be used:

• Homes that most recently closed
• Homes with the same number of bedrooms
• Homes with the same name number of bathrooms
• Similar square footage (within 300 sq ft if possible)
• Same number of stories
• Similar condition
• Similar lot size
• Similar location (the closer the better)

It's not always possible to find sales comps that match your property. You may have to use comps that are slightly larger or smaller, a little further away, that have a different lot size, or are in better or worse condition. At that point you have to make adjustments based on these factors. For example, if you have a comp right down the street that is the same floor plan but is in need of renovation and yours is remodeled, you’ll need to adjust your list price to reflect the difference. Your agent will should be able to help you decide the adjustment factor. Also look at similar properties that are pending sale. Your agent can provide these as well through the MLS (Multiple Listing Service). These are the most up to date sales comps even though they have not officially closed. Although we are not privy to the contract sales price, a good agent may be able to ascertain the approximate sale price. If you would like sales comps for your neighborhood fill out our questionnaire and I can e-mail you the information.

Check the Competition
Along with the sold and pending comps, make sure to look closely at similar properties that are for sale in your area. This is another clue to what your home is worth. However, you have to use a bit more caution with these properties because many times they are overpriced and so you won't want to use these as true comparisons. However, drive by these homes and see what your competition is doing. Find out how long they have been on the market. Market time can be an indicator to how a property is priced. A property on the market for 4 months in a hot market is probably priced too high. As always, consult with your agent. He or she will be able to guide you.

Market Conditions
Make sure you know which way the market is going. If the market is booming and good listings are scarce, you can probably price your home a bit higher than the last sale. If the market is slumping, prices could be softening and you should be very careful you don't overprice it and watch your home just sit there. Be sure to consult with your agent as to which way the market is heading. Markets are not static, they are usually moving one way or the other.

Overpricing Your Home
Pricing your home too high will result in little activity, a longer marketing period, and wasted time and energy. Sometimes sellers will calculate the improvements they spent on the home and add that to the equation. But remember that you usually don't get a dollar for dollar return on the money you invested in repairs or improvements. Sometimes sellers base an asking price on what another neighbor's house sold for but forget to take in to account that the neighbor's house had a larger lot, bigger square footage, and an extra bath. In my opinion, overpricing is usually the reason why a home doesn't sell. Many sellers refuse to lower their asking price, which results in no sale. Some sellers price their home based on what they need out of it. Buyers don't care what the sellers need out of the home, they base their decisions on what similar properties in the neighborhood have recently sold for. Remember this: Buyers typically look at every home in their price range and make comparisons between those houses. They will then narrow their choices to the homes that best fit their needs. They will then pick the home that they feel is the best value. If your home is overpriced and doesn't represent a fair value, buyers will pass on your home.

Under pricing Your Home
Sometimes a seller will under price a home. Sometimes it's to get a quick sale and sometimes it's an error when choosing the correct price. Maybe they hired an inexperienced agent or someone who doesn't know the area very well. Whatever the reason, an under priced home will usually result in a very rapid sale or in multiple offers. Remember buyers make comparisons and will generally choose the best value. If you do have multiple offers on your property and they are all full priced or higher, chances are you priced your home too low. The good news is that if you do have multiple offers, you can usually drive the price up as the buyers bid against each other. This may lead to a final selling price where it should be.