If you are thinking about selling your North Carolina home, one of the first issues will be to set the price. You don’t want to sell yourself short and get less than what it is worth. On the other hand, too high a price tag will scare potential buyers away. You need to come up with a price that is somewhere in the middle. Tis may sound tricky but as you probably already know, it is very crucial that you price your home accordingly. The North Carolina real estate market in unique and you will need to do a little research, like reading this article, as well as reach out to local real estate professionals for guidance. We will be giving you some great thoughts on how to go forward with this process.
You will need to assess the other houses in the surrounding area to get some idea of what your home may be worth. With all the resources on the internet nowadays, this should be fairly easy. Look for the price of home with similar square footage, features, and other attributes that your home shares. Also look at things like how long the comparable home has been on the market. Any good real estate agent will suggest you do this as well. It is important that you take on the responsibility of getting the facts on your own. One place that will be a great source of information will be the recorder’s office in your county. Another great source of facts is on the internet; on sites like Zillow.com. You may be amazed how the price range may differ from one area to another in a very small radius; keep your research restricted. You will need to assess other homes that are like yours in size, condition and the year it was built.
If you find the whole process of pricing your home too complicated to think about, getting an appraisal is an alternative. Getting your home appraised can be expensive (usually several hundred dollars), but it can put your mind at ease when it comes to setting the price. There will be plenty of appraisers in your area but be sure your appraiser is an expert in North Carolina and specifically your area. An appraiser will not overlook anything and use a precise formula that considers a home’s square footage, how old it is and how much property you have. An appraisal also takes into account the state of the local real estate market, and the selling prices of homes that are comparable to yours. If you’re willing to put forth the effort, you could do your own appraisal on your home. You can certainly sell your home without getting it appraised, and this decision to do this or not is entirely up to you.
Before shelling out the money for an appraiser, do any repairs or updates that may be required for your home to sell. You will want to do this before the appraiser arrives as this will probably impact the price the appraiser generates. I once had a friend spends thousands with a local Durham tree removal service and the yard really looked great. The makeover completely transformed the entire property. After speaking with him much later, he admitted he did the renovation after the property had been appraised and he never adjusted the asking price for the home. While the clean up of the yard boosted the curb appeal and ultimately helped sell the home, my friend never attempted to recuperate the expense by including it in the asking price.
Reassessing your asking price may be what you need to do, especially if you have been showing your home for some time without a single offer. If people are interested in seeing your home, it obviously has some appeal. If no one is making an offer, then it is pretty simple – your asking price is more than likely too much. There are often many other factors at play as well such as the local NC job market, the time of the year, local schools, you name it. Many factors need to be considered to find that sweet spot in pricing that will sell your home. Most people who look at your home will also be looking at other homes in your area. With that in mind, prospective buyers will purchase a home like yours if they find it, especially if your price too high. This should clue you in that lowering your price a bit would be a good idea. To get the perspective buyers more interested in your home, simply lower your asking price by 5% and see what happens. You must pay attention to all kinds of details and data when pricing your home for sale. You have to consider what comparable homes in the area are selling for, and how warm or cold the market is right now. A seller is always in a better position if he or she is patient and not too desperate to sell. These are just some of the main points to consider when you are ready to put your house on the market.
Pricing a home is a complicated task but can be easily accomplished with a little research and some massaging to find that right sweet spot. The great thing is that North Carolina has a thriving real estate market and you should be able to get a great price for your home.