Pricing Your Dearborn Michigan Home
How to Correctly Set the Asking Price for Your Dearborn Home
How to pick the right listing price for your Dearborn area home
Selecting the right price to list your home is an important step in in the selling process. It is a step you
need to carefully consider as your decision now can positively or negatively impact your chances of getting your home
sold for the best possible price.
Letting emotions determine price
Remember how hard you worked on sanding that banister, putting in that new faucet and painting those rooms? (how you love those colors!) Let's not
forget that those holiday memories when we all sat around the table and talked until midnight...I can almost smell Thanksgiving dinner now!
Now for the cold, hard facts. (gulp) Buyers don't have any emotional ties to your home. When they look at your home they'll
scrutinize every little thing they see to determine if fits into their life/lifestyle...not yours. Your paint doesn't match their furniture and the faucet...they wish you had
picked a different style.
So, never, ever let your emotions determine your asking / list price. Buyers won't pay extra for your fond memories and the result is that
your home will sit on the market until you price it right.
Let's start out higher...buyers will make me an offer
Years ago, yes this was often true. These days it simply does not work that way. Buyers are too smart about the market and have too
many other choices...they'll just move on to another home...one that is a better value.
Pitfalls of overpricing in a declining market
If at the start of your listing you overprice your home by 10%, then the market drops 10%...you will then be 20% over
Let's say it is at that point that you decide that you need to reduce your price but only do so by 10%. In reality,
you are no better off than the day you put your home on the market
because yet again, you are 10% above market value. Many sellers have literally "chased the market down" this way and threw
away every bit of equity they had.
Going out of the gate at the right price
Your best chance of getting the best and highest price is to price your home correctly at the time you list it.
are just waiting for the right home to come up and when your home is "new on the market" (just listed) and is a good value, guess what? You might even
get multiple offers!
How prices are really determined
Prices are determined by what buyers have been willing to pay for a similar home (size, style, amentities) recently. In this market the
term "recently" would mean in the last 3 or 4 months and no further back than that. If your home is a one story...you'll want to only compare it to one
story homes. If it is a 1-1/2 story...again, only compare to the same style.
Homes that are currently for sale (on the market) are never used to determine value because a homeowner can ask literally
any price that they want for their home...irregardless of whether it is the correct price or not. So, never rely on
what someone is asking for their home to determine the price of your home. The only "real" comparables are homes that
were successfully sold and closed recently.
Your home must appraise
If your buyer is getting a mortgage, keep in mind that their mortgage company/bank will do their own appraisal of the property to
determine if it is worth what the buyer is paying for it. Appraisers will use the same information described above and again, they will ONLY
go back a few months. They may even be very conservative and knock off value for a declining market if that is the case at the time.
Contact Steve Hatfield today so he can put his great marketing, honest approach and 24+ years of experience to work for you!
Get your FREE copy of Steve's in-depth Market Preparation Guide
when you sign up for a FREE Home Seller Survival Kit
Click here to get it now!
« Back | Home
Be a savvy home seller and make sure you pick the BEST Realtor® to market your home!|
Steve Hatfield has the...
Experience, marketing services and qualifications to get your home sold!
Honesty, sincerity, professionalism, results!
Contact Steve if you are thinking about selling your home!
Specializing in residential home & condominium sales in Dearborn, Dearborn Heights, Livonia, Canton, Plymouth, Northville, Novi, Farmington, Farmington Hills, Allen Park, Southgate, Taylor, Wyandotte, Trenton, Brownstown, Woodhaven, Garden City, Westland and Redford Michigan since 1987
In the world of real estate, there is no substitute for experience. As an experienced real estate agent, I will guide you through the complexities of buying or selling a home, help you to achieve your goals and strive to make the final outcome exciting rather than stressful!
Whether you are buying a home or selling your existing home, please allow me the opportunity to assist you with your real estate transaction. I am prepared to exceed your highest expectations through exceptional service, reliable communication and knowledge of the local real estate market.
Realtor®, ABR, CRS, SFR, e-PRO
REALTOR® ABR, CRS, e-PRO Certified
CENTURY 21 Curran & Christie
25636 Ford Road
Dearborn Heights, MI 48127
Office: (313) 274-7200
Contact Steve Now
Michigan Real Estate Salesperson #6501221773
Licensed Realtor® Since 1987
Steve Hatfield, Realtor® provides real estate / home buying and selling services in Dearborn Michigan, Dearborn Heights Michigan, the Wayne County MI (Southeast Michigan) communities of Redford, Westland, Garden City, Livonia, Canton, Plymouth, Northville, Allen Park, Taylor, Southgate, Wyandotte and the Oakland County cities of Farmington / Farmington Hills and Novi Michigan.
In accordance with the law, the properties, real estate services and homes for sale featured on this web site are offered without respect to race, religion, color, creed, national origin, sex, physical limitations / disabilities or familiar status.
REALTOR® is a registered collective membership trademark that identifies a real estate agent / professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict code of ethics.
Century 21 Real Estate Corporation © and sm trademark and servicemark of Century 21 Real Estate Corporation. Equal Housing Opportunity. Each office Independently Owned and Operated.
Copyright © 1996 - Steve Hatfield
Graphics and content may not be reproduced or copied in any way with out written permission
from Steve Hatfield. Persons or companies found to have stolen content and/or graphics from this web site will be
prosecuted to the full extent of the law for copyright infringement.