The biggest misconception in real estate is that every home has its price. This idea is simply not true. Even appraisers, who have extensive training to evaluate homes will not agree on the value. If ten appraisers were paid for determining price on the same home on the same day each opinion will be different. The real truth is that every home has its price range. We often struggle and negotiate hard to find the right price when there is more than one right price for every home. There is a complete home value range for every home. Your goal is to assure yourself that you are within that range of value. Click here to learn the details.
Let’s look at some specific questions sent in by DearMonty readers from across the country. Read more Q&A articles about the “Determining Price” stage of the Home Selling process:
-
An appraisal killed our home sale
Reader Question: An appraisal killed our home sale. We accepted an offer on our home 45 days ago. The lender just turned down the buyer’s loan because the appraisal was $35,000 lower than the contract price. The buyer had a twenty percent down payment but no extra cash to make up the difference. We…
-
Six points to check if our home is overpriced
Reader Question: How can we check if our home is overpriced? Our home has been for sale on-and-off for some time. We have tried it ourselves, and hired real estate agents to no avail. This time we are going on four months now. In the past, we felt that our house didn’t sell because it’s…
-
Nine steps to take when pricing a home for sale
Reader Question: We are planning to sell our home. In researching the subject, the standard advice is to call a real estate agent. We get that, but from a potential seller’s point of view, that is very simplistic advice. What do you suggest someone do when pricing a home for sale? Monty’s Answer: You…
-
Does extended market time reduce a home’s value?
Reader Question: We have a real estate agent telling us not to list our home for more than ten-percent above her recommended price. She claims that if we do, it will ultimately cause us to accept an offer that is lower than any offer we would get if we listed at her suggested price. She…
-
Appraisal vs. Agent Sets Home Price?
A home seller asks if an appraiser, or a real estate agent should set the price on a home. The answer is using one person, regardless of type of license is very risky.
-
What is value range pricing?
Reader Question: I want to confirm an explanation an agent gave me. What is value range pricing? Monty’s Answer: Value range pricing is a strategy employed by home sellers to increase the number of home showings. Hypothetically, the more shows, the higher the chance of a sale and a purchase at a higher price. The…