What determines the worth of a home in today’s real estate market? MARKET FACTORS. While you can control some of these, it’s simply not possible to control them all. What do you need to pay attention to in order to close the best deal on your home? Let’s take a look.
Pricing your home properly from the start is the deciding factor on how long it will take to sell.
The condition of the property affects the price and the speed of the sale. As prospective buyers often make purchases based on emotion, first impressions are so important. Our team will be able to help in optimizing the physical appearance of your home to maximize the buyer’s perception of home value.
- SHOWING AVAILABILITY
The market in North Texas moves at a very fast pace. Understanding the expectations of today’s buyer is important when creating a plan to make your home available for potential showings. We will work together to formulate a course of action that meets those expectations while still providing you and your family the opportunity for peace of mind.
As you may have heard, the three most important factors in real estate are Location, Location, Location. It is the single most significant factor in determining the value of your property.
Prospective buyers are going to compare your property – both the condition and price – to other listings in and around your neighborhood. These buyers will determine value based on the properties that are listed or have recently sold in the area.
- BUYER’S OR SELLER’S MARKET
Supply and Demand. We all learned the concept years ago. Buyer and Seller Markets occur on both a macro and micro scale. It is important to get a handle on the dynamics of supply and demand on a very granular level in order to best understand and position for success.
- INTEREST RATES
The ability to access purchase funds at a reasonable rate has a huge impact on the real estate market. If rates increase a fraction of a point, the pool of buyers for your home will decrease significantly as the housing affordability metric changes the monthly payment.
Property values are affected by the current real estate market. Because we can’t manipulate the market, we’ll collaborate on a pricing and marketing strategy that will take advantage of the first 30 days your property is listed. That time period is the window of opportunity when your buyers and their agents discover your property and are most likely to visit and make offers.
How can you possibly control the outcome? Well, unfortunately you can’t 100% control the outcome of the sale of your property. HOWEVER, there are 3 of these Key Factors that you can control to swing things your way:
- SHOWING AVAILABILITY