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Contact Penny Pearson

The single most important factor to consider when selling a house is the listing price!

The first step is to be sure you establish a good price for your home. If your home is priced too high, you must be willing to wait much longer for your home to sell while you wait for the "right buyer" who is willing to pay more than the current market value. 

An additional factor of setting the price too high for your home is that it may sit unsold and lose the appeal and freshness of a new listing on the market. On the other hand, price it too low and you may give away thousands in profit to a total stranger. Either way you lose. Finding the appropriate price sets the right stage for the entire selling process. 

Helping You Determine the Listing Price of Your Home

I will provide a market analysis for you to reflect the current market conditions. I will compare your home to others based on style, size, number of bedrooms, baths, garage, basement, view, and lot size. A complete in-depth study of the market conditions and sales data in your area will be covered when we sit down together to determine your listing price.

How Do I Determine The Suggested Market Value For Your Home?

• Comparable Listings and Sales 
  I will look at every similar home that was or is listed in the same neighborhood or area over the past six months and compare similar square footage, and similar ages of the your home. It is important to compare apples to apples.
• Comparable Sold Homes
  I will compare original list price to final sales price to determine price reductions. I will adjust pricing for lot size variances, configuration and amenities / upgrades in order to find the appropriate listing price for your home.
• Withdrawn & Expired Listings
  I will pull the MLS (Multiple Listing Service) history for expired and withdrawn listings to determine whether any were taken off the market and relisted. Expired or withdrawn listings may show a pattern as to why these homes did not sell and the common factors they share.
• Pending Sales Since these are pending sales, the sales prices are unknown until the transactions close, but I can inquire with the listing agent regarding the pending sales price. Most agents will share the pending sales price with another agent as it will be a matter of public record after closing.  Pending sales can be a very good indicator of current market pricing. 
• Active Listings
  Active listings that are comparable to your property in amenities and price will be your competition in selling your home. I suggest that in order to see what buyers will see, allow me to take your to tour these homes that compete in your home sales market.
• Square Foot Cost Comparisons 
  Remember that after you receive an offer, the buyer's lender will order an appraisal, so you will want to compare homes of similar square footage. Average square foot cost does not mean you can multiple your square footage by that number unless your home is average sized. The price per square foot rises as the size decreases and it decreases as the size increases, meaning larger homes have a smaller square foot cost and smaller homes have a larger square foot cost.

The value of a home is determined by supply and demand. If there are a lot of sellers and few buyers, prices tend to go down and homes take longer to sell. This is referred to as a "Buyers market".  But when the opposite is true, and there are many buyers, but few homes for sale, prices will rise and homes will sell very quickly- this is known as a "Seller's market." Most people would agree that we are in a Buyer's market right now, which is why it is even more important than usual to Get the Attention of Available Buyers with an Effective Marketing Plan! 

I Remember, it isn't easy for any home owner to stay objective and put thier personal feelings and attachments to their home out of the equation. Keep in mind that potential buyers are not looking to buy your home - they are looking to find a house that they can make into their home. I will help you determine an objective price for your home that will reflect the best market value for your home and property.