Get a professional opinion:
The Lou and Lori Team can help determine a price for your home. We will provide you with a researched and professional competitive market analysis (CMA.) This is a complimentary report that we provide as a service to our clients. These reports will show, in detail, current market statistics, active and sold comparables, and include adjustments for unique items that your home may offer. On Mercer Island, there are no “apples to apples” comparisons so we take bits and pieces from several different properties to put together a whole.
Today’s buyer’s are highly educated to the market:
With technology today, everyone with a phone, i-pad or computer has access to immediate information. Buyer’s are also looking at what is currently on the market, pending and sold and comparing those homes to yours. Although, they may love your home, if the price isn’t right they are not going to make an offer on it. Buyer’s aren’t necessarily looking for a bargin but are seeking value.
What is trending in the market:
Where is the local market headed? Is it going up, down or sideways? By understanding the market’s trend line you can price your home ahead of the curve instead of chasing the market. In an increasing market, with a lack of inventory and more buyers than sellers, under-pricing a property is nearly impossible as competing buyers will push the price up and establish a new market value. In a decreasing market, a more aggressive pricing structure may initially seem as if you are selling your property too cheaply, but procuring a sale quickly in the end will prove to be a winning strategy.