Pricing Homes To Sell In Maine

Pricing is directly related to marketing time a real estate listing and whether it may sell at all. Pricing is crucial at all times but is particularly critical when there are a lot of real estate listings available. The following is information on pricing homes to sell in Maine.

Consider the Local Market

Every real estate market is unique. When you learn about statistics on television, those often involve national trends. Your particular neighborhood can be very different. A local real estate agent can provide a CMA which compares recent sales of comparable real estate in your geographic area and furnish a reasonable price range for your home. This figure may change continually, so it is important not to refer to past valuations.

Be Practical

When reviewing the market report, be aware that there is a range. Where your listing should be within that range depends on other homes on the market and your target sale date. As a home owner, it is understandable to feel a sense of attachment to your house and the repairs invested. Unfortunately, not all potential buyers will assign equal value to specific upgrades. Keep in mind that it is not often that you will recoup the total cost of upgrades. Additionally, property values can be affected by foreclosures in the region, which are traditionally listed at dramatic discounts and remain considered comparable listings. Market value is really the price that someone is offering to spend on a home at the current time. It may not actually match your requirements or resemble the price at which you purchased the house.

Pricing Homes To Sell In Maine

Listing above market value can result in valuable time being lost. If the market goes down further during that listing time, the home will ultimately sell for even less than it could have if priced accurately to begin with. Additionally, buyers tend to have a negative feelings about homes with long market times. This is difficult to overcome even if a home comes down in price later. Pricing too high causes more damage than good.

Some Additional Advice for Homeowners

If the current market value of your property is dramatically different than what you are ready to accept, it may be best to watch the market and wait for prices to increase rather than pricing high and letting it grow stale for months or even years. If you have no alternative but to sell and need to do so within a specific window of time, choosing a price reflective of the market and in line with current listings will be crucial to reaching your goals. Time is money and overpricing may be more expensive than you expect. For more information on pricing homes to sell in Maine, contact Mini Major at Bean Group.

About Mini Major

Mini views the purchase or sale of a home as a major life transition that usually evokes a wide array of challenges and emotions She brings her strong analytical, communication, and mediation skills to that process. For buyers, she helps to assess realistic goals and maps out a facilitation strategy that is uniquely designed to meet their individual styles with limited stress. For sellers, she provides honest, factual information necessary to set the right price and, together with the extraordinary resources of the Bean Group, provides state-of-the art marketing materials to present that property with appeal to the most appropriate potential buyers.

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