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Reasons To Price Your House Correctly:

1.     Makes your house more likely to sell

2.     You get increased agent response - Agents who know a house is overpriced won't waste their time by showing it.

3.      If it is priced too high you will scare off potential buyers who may not look again.

4.     People look at houses in price ranges.   People will look at your house that and compare it to other houses in that price range which are priced correctly.  Your house will not compare favorably to those houses.

5.    The right buyers wont see it.

6.     You will be helping others to sell their house.   If you list high and a neighbor lists correctly you make his house look like a good deal.

 

What is you House Worth?   It it worth what the market will bear.   If you can find someone to buy it for a million dollars then it is worth a million dollars.     To determine what the market will bear we begin by doing a CMA.  What is a CMA?  A CMA is a "Comparative Market Analysis" or some call it a "Competitive Market Analysis". 

 

Buyer Information

Why You Need a Buyers Agent

How Long Will Home Items Last

Buying A House

Buy First or Sell First

 

Finance Information

Amortization

Credit Ratings

Down Payment

Where to Go For A Loan

Additional Costs to Consider

Questions to Ask Lender

What Can You Afford

Financing a Home

 

Selling A Home

Selling a House

Seller Mistakes to Avoid

Preparing Your House to Sell

What Is Your House Worth

Buy First or Sell First

 

 

  Getting a CMA involves comparing your house to similar houses in similar (or the same neighborhood) and then adding or subtracting the cost by looking at individual factors.   Example:    The house next door has is built exactly the same except that you have a two car garage and they have a one car garage.    They just sold their house for $175,000 dollars, so what is yours worth?

In order to do a CMA you need to look at what other houses in your neighborhood have sold for (Yes, only the ones that have sold.  You can't logically use what other houses are presently listed for because that a house typically lists for and sells for is different). 

The easiest way to get a CMA is to have a realtor do one for you.  The web site for the Lexington Bluegrass Realtors Association will let buyers see what houses are listed for but only a realtor can see the sold houses.   Tell the realtor you want to see a listing of all the houses sold in your area within the last year.  I stressed all the houses because unfortunately, some realtors only compare houses which are larger or cost more than yours, so you think he/she will get more money than your house is worth.   This is a disadvantage to honest realtors because people often list with the agent who misrepresents the value of your home.   After you are listed with him/her they will come back later and tell you that the market has changed and asks you to lower the price.     Markets change and there are many reasons to lower prices but making sure that all the comparable houses are in your CMA will help you determine what your house is really worth, and what your realtor is worth.