What’s the first thing that people ask me when they’re thinking about selling their home? How much will it sell for. To answer that, we have a few things to look at.
First we start with looking at all the comparable data that’s in the market and what I mean by that is looking at the most closely comparable properties that are either active, pending, which is under contract or recently accepted an offer or sold properties within the last few months. These properties have to meet certain criteria of course though.
They have to be as close to your property as possible as far as
- Square footage
- Lot size
- Age of your home.
After finding the properties that are as closely comparable to yours, we want to look at the closed properties . We’re going back a couple months to see what is closed then and what that tells us is what consumers were doing and where the market is potentially going so that we can determine the price of your home and so going with those closed sales, we’re only going back a few months.
Next we want to take a look at pending properties and pending, like I said, has to do with properties that recently accepted an offer. So they’re in contract, they’re moving towards closing. This means that they were listed at a price that encouraged a buyer out there to pull the trigger and write an offer on that property. So looking at those, I’m going to do my due diligence and I’m going to pick up the phone and call those listing agents that have those properties that are currently under contract and I’m going to talk with them and try to figure out exactly where they’re selling at, and that’s the best real-time data that you can get for comparable properties to your home.
Lastly we’re going to take a look at the active properties that are on the market. Now we want to look at these a bit differently than we look at the pending properties and the sold properties. This is because some of those properties may have been sitting on the market for quite some time. They might have had a couple price reductions. So we want to make sure we know that data and that we’re placing ourselves among those properties that are on the market or your competition so that we’re getting the most exposure for your home. So determining what’s on the market, if they’re priced correctly, and where we want to show up in the buyer’s eyes within that to create the most exposure for you.
If you have any questions about selling your home or you want to know the value of your home, you can give me a call. My name is Bryan Mancuso. I’m with the Whissel Realty group and my number is 858-254-1207.Search Homes For Sale in San Diego