Understanding Market Values – How to Price your Home

July 7th, 2015

One of the biggest mistakes people make when selling their property is not understanding real estate value. It doesn’t matter what you think your Downtown San Diego home is worth. The value is determined by buyers. What you enjoyed about your home is irrelevant when it’s time to sell. Use some of the following tips to get started.

  1. Know the Downtown San Diego market. Find out what other similar properties have sold for.
  2. Decide on your minimum price. Be willing to work with any buyers who make an offer above it.
  3. Clean and fix the most visible items first. If buyers fall in love with the house as soon as they enter it, they’ll forgive many minor issues.
  4. If you or your agent aren’t getting many calls, find out why. Is more advertising necessary or is the price too high? Drop it fast if the price is the problem. Be careful not to chase the market down with a series of insignificant price drops.
  5. Listen to comments of prospects. If you hear several times a room is dark, white paint is an easy solution.
  6. If there are any known problems, such as a leaky faucet, get an estimate for repairs. The buyer wants to move into a place that is worry free.
  7. Do any improvements that can realistically get you at least a two-to-one return on investment.

Not sure where to start? Call the Neuman & Neuman Team to receive a customized strategy for selling your Downtown San Diego home at 800-221-2210.

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