Setting the right price

The real estate game has changed: the days of putting a price on your house and waiting for the market to come to you are long gone.  The real estate markets have also become transparent: Buyers have as much information as most Brokers. Thanks to the internet and real estate portals such as Trulia, Zillow, Realtor.com and HomeGain, Buyers know the current fair market value of any given property long before they call their broker. If a property is grossly overpriced, Buyers just won't look at it.

It's important that you establish a realistic asking price from day one. Prospective buyers for your property have been in the market for months: they are educated, informed, and they are watching the new listings every day. If your property is accurately priced, these buyers will compete with each other to get their foot in your door. On the other hand, if these Buyers perceive your property to be speculatively priced it is likely the silence will be deafening and you may have to re-position your asking price.  In the new economy, homes always attract the most attention when they are brand new to the market.

Naturally, the location, property size/features, style, age, physical condition, special features, and recent enhancements must all be considered in assessing your home's value. As a starting point, though, your Coldwell Banker Chesapeake Sales Associate will thoroughly research comparable homes in your neighborhood and town. Recent sale prices, the current prices of similar homes, and even homes that didn't sell and were taken off the market will all be taken in account.

Your Coldwell Banker Chesapeake Sales Associate will factor in the many influences that impact price - local absorption rates, local economic trends, and regional housing trends - to position your home competitively relative to the market. Accurate initial pricing, based on Fair Market Value, is especially important to achieving our mission: To achieve the highest possible price, in the shortest time on market, with the least amount of inconvenience.