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I am happy to provide you with your report, anytime you want an update on your home’s valuation subject to current market conditions, or in preparation for a sale. At no obligation, of course.

Please reach out if you have any questions or would like to order your complimentary property’s report.

Michele

509 956-9743

Property Valuations and Your Investment

Pricing your home should not be a crapshoot or the roll of the dice!! It can be an extremely stressful process. It’s a given that you want to get the most for your home. However, a lot goes into arriving at that price that will get the most exposure with buyers who are looking in your price range in order to secure one buyer who will successfully close on the transaction.

Sellers tend to be bullish on their home’s value and sometimes feel that the best course is to price the home higher than what the market dictates. This can mean longer time on market, the risk of becoming “shop worn” and a series of price adjustments until your buyer steps forward. It also means more showings that you need to prep the house for - keeping your home show ready gets tiresome quickly.

All of this adds to the inherent stress of selling your home.

Everyone is looking for that cash buyer who waives inspection and does not require an appraisal! In a Seller’s market, we see far more of those buyers, yet they are not the norm. Most buyers need a mortgage to finance their largest single purchase. However, even with a mortgage, owning a home is the major way Americans create personal wealth for their family.

So, if the majority of buyers will need a mortgage, it makes sense to price your home so that the price can be substantiated to an appraiser. Therefore, we need to look at your home the way an appraiser will look at it. And appraisers put most weight on recent history, so recent sales are key to defending your price to an appraiser.

When we work together, I’ll show you recent closed sales that are most similar to your home in location, features and condition. I will also include current Active and Pending sales to complete the picture. Then, using the same data an appraiser will also consider, we will develop a pricing strategy that is customized to your situation.

However, in many cases, agents, being human, are subjective about their choice of the MLS listings they present to their potential sellers. That is not my method. I check to see what other resources i.e. Zillow, Realtor.com are estimating your home valuation. And I know that the industry rolls its collective eyes when Zillow’s Zestimate gets mentioned, however, their process has improved. Even so, I check those sites because that is where both buyers and sellers gravitate to when they first think about buying or selling.

In addition, I use sophisticated technology to aid in this strategic task of pricing your home. One important piece of data comes from a service I use called Property Explorer by House Canary described as “our highly visual Explorer tools empower analysts to quickly run through a list of properties. User-friendly neighborhood heatmaps, comparable selection options and comp grids make valuation and comp selection a breeze. Scroll through images of your subject property and potential comparables, test multiple valuation methodologies, and generate polished value reports. You can even share links for your clients to adjust.”

So coupled with all the relevant data, you are able to determine exactly how your home compares and from there, we can craft the best strategy to sell your home for the most money in the shortest amount of time.

Below is a link to the report sample taken on the same home six months apart, offering an illustration that the market is never static.