Check Your Comps Before Listing

If you pay any attention to the real estate market, I’m sure you’ve heard that it’s red hot.  Inventory is low, demand is high, a number of price points in the market are seeing multiple offers.  And as a seller that could really tempt you to do something that could backfire and that would be over-pricing your home.  When we hear that the market is busy and inventory is tight and multiple offers abound, it’s very easy to get sucked into the idea that you can price your house here (Say $350,000 for example) when the top of the market is here ($300,000).  Although there is an exception to every rule, what’s going to happen is your house is going to be more than likely appraised.  Unless you have a cash deal any body getting financing is going to have an appraisal.  Appraisers are going to keep your house, your listing, they are going to keep these appraisals within these brackets and it’s very hard to get an appraiser to go outside of these brackets in this marketplace.  Again, there’s an exception to every rule but be very very careful when you are pricing your house to sell, that you keep at a price point that is within the market, that is reasonable and if you do push that envelope a little be prepared for the possibility that you may have an issue with your appraisal.  The listing agent should be having this conversation with you at the time they are taking the listing and getting the house ready for sale.  Your listing agent should also be meeting with the appraiser at the time of the appraiser as well to show them what they saw to help put the house at the price point that it is at.  Ask your agent these questions when you’re meeting them about listing your home.  What happens with the appraisal?  Do you meet with the appraiser?  What are your strategies there?

Wanted to share that piece of advise with you in this very busy marketplace.  That’s about it for now.  I’ll talk to you soon.  Hope you’re having a wonderful day.  Bye.

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