I underlined from the start above because the end result is much different than getting the price right two months later after multiple price reductions!
The initial process to recommend a price is the comparative market analysis ( a "price right analysis").
Within this process I look at several characteristics and factors. It is here where local market (your neighborhood, city, etc.) knowledge is critical to applying these characteristics.
Some of theses include:
- Living area: The square footage under air conditioning is what we customarily use here in Florida. Other locales may use the total square footage under the roof.
- Total square footage: Total area under the roof.
- Age: As close as possible match the construction year.
- Type of construction: Concrete/concrete block is more desirable in Florida than a frame (wood) construction.
- Roof materials: Whether the roof is asphalt shingle or tile (terracotta) is a factor as tile is usually more desirable and expensive.
- Garages: The existence of a garage and the capacity (1, 2 or more cars).
- Community characteristics: Is it a gated community, has a home owner's association, community amenities such as pool, playground, etc.
- Location: This is one of the most important factors. Of all the characteristics this one can not be changed!
- Number of Bedrooms and Bathrooms: Common sense says that the more rooms, likely the greater value.
- School quality: Although you may not have school age children, the quality of the local schools impacts your home's current and future value. People want a good school district when they buy.
- General condition: Often there are maintenance issues that have been neglected. Any needed repairs or maintenance must be considered.
- Competitive listings. Fair market sales, short sales and foreclosure properties must be considered. That is the reality of the current market.
Setting your list price does not involve any marketing bells and whistles..... as a seller, it is all about you and getting your home sold and getting the price right initially is the most critical issue.
Call me directly at 321-693-3850 when you are ready to sell your Viera, Suntree or Rockledge Florida home! Or email me if you prefer!