When setting a price for a property there is an established industry standard which Appraisers use as well. Typically “sold” comparables that have closed escrow within the last six months and are within a ¼ mile radius of the subject property are used to figure out the value of a home (using some price adjustments for inferior and superior amenities – such as updates or lack thereof, pool, large lots, deferred maintenance, etc. If these “sold” comparables are not available then the standard would be to go out further (i.e.; ½ mile or more), and sometimes closed escrows more than 6 months old will be used.
Sometimes in markets like we are today (appreciating) “pending” sales (and days on the market before the house went pending) will also be taken into consideration in setting a higher list price. In many cases, “pending” sales are an indication of where the market is going.
However, with all of that being said, we have never left a home without listing it because we had an disagreement about what your house could sell for versus what you want to list for. You are the ultimate decision maker and you will receive no grief or criteria from us about it. With the amount of experience that we have had, we have learned:
1) You can’t get a price that you didn’t ask for;
2) People who ask a high price sometimes get a high price;
3) People who spend no effort in getting their home ready sometimes sell in the same amount of time and for the same money as someone who exerted a lot of energy towards getting ready; and most importantly,
4) You are the expert when it comes to selling your home..
Our job is to guide you to a place that you feel that you can defend and tell your story – however you want it told.
If at any time during the process you want to change your price, text description you are in total control to do so…