HomeAnn ArborPricing Your Home Correctly in Ann Arbor Pricing Your Home Correctly in Ann Arbor Are you ready to sell your home? Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report If you would like to sell your Ann Arbor area home this spring, you are most likely already thinking about what your asking price should be. If you’ve already had your home on the market for a while with no success, perhaps you’re wondering what you might be doing wrong. There are lots of pricing misconceptions, and Toth Team Worldwide Network is here to set the record straight! The simplest breakdown is this: Price + Exposure = Sold. The price is determined by the value of your property. The value is determined by what buyers are willing to pay and what sellers are willing to accept in today’s market. Buyers make decisions based on what other similar properties recently sold for in your area. The value of your home is not determined by what you paid for the house when you bought it, what you feel you need to get for the house, what you want to get for the house, what your neighbors say you should get for the house, what another agent says, or what it costs to rebuild today. If you price your home based on one of these factors, it may sit on the Ann Arbor real estate market with little to no offers. It’s important to price your home to sell right when listing because the longer the home sits on the market, the less interest it will gain from potential buyers. On average, most offers are received in the first three weeks on the market. By the fourth week, they start to fall. This is when you’ll want to reevaluate your listing price. The longer your house sits on the market, the more price reductions you may have to offer. This could result in a value loss greater than if you had priced it correctly at the beginning. “ Price + Exposure = Sold. ” On average, 60 percent of potential buyers look at properties that are priced at market value from the beginning. If you price it 10 percent above market value, 30 percent of buyers will look at it. If you price it 15 percent above, only 10 percent will look at it. Similarly, if you price it 10 percent below market value, 75 percent of buyers will look at it, and so on. When you work with Toth Team Worldwide Network to sell your house, we’ll give you examples of the competition, both active and recently sold. We also explain the pros and cons of listing over, under and at the suggested sale price. For example, at the suggested sale price, buyers will notice your home, your home will be found easier in searches, it will bring buyers in, and you won’t have issues with an appraisal. Whether it’s a buyer’s market, seller’s market or balanced market also makes an impact on home prices. You can find more information about all of this, along with graphs to help you understand it, in this Pricing It Right pamphlet we’ve created for you. Written by Kathy Toth on March 7, 2019. Posted in Ann Arbor, Ann Arbor Area Real Estate, Home Selling, Real EstateTags: Ann Arbor, Home Seller Tips, Home Selling, MI, Michigan, Real Estate, Real Estate Agent Trackback from your site. Leave a Reply Click here to cancel reply. Name (required) Email (required) Website Comment Submit Comment About our blog Follow our YouTube Channel and +1 us on Google Plus! CategoriesCategories Select Category Additional Resources Ann Arbor Ann Arbor Area Real Estate Ann Arbor Real Estate Buyer Tools Chelsea Coming Soon Collection Community Spotlight Company Info Dexter Community Dexter Real Estate Home Buying Home Owning Home Selling Home Value Information Insurance Insurance Tips Join Our Team Market Updates Market Updates Neighborhoods New Website Features Open Houses Parks Real Estate School Information Schools Scio Township Seller Tools Technology Things to Do Uncategorized Archives Archives Select Month October 2019 September 2019 July 2019 May 2019 March 2019 February 2019 January 2019 December 2018 November 2018 October 2018 August 2018 July 2018 May 2018 April 2018 March 2018 January 2018 November 2017 October 2017 June 2017 April 2017 March 2017 September 2016 August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 February 2016 January 2016 December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 November 2014 October 2014 September 2014 August 2014 July 2014 June 2014 May 2014 April 2014 March 2014 February 2014 January 2014 December 2013 November 2013 October 2013 September 2013 August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013 Contact Us Now First Name Last Name Email Address Phone Number Message Any questions, comments, or feedback Submit Now!