Pricing in the Calgary Real Estate Market.
In the Calgary Real Estate Market pricing is one of the most importart factors to consider when selling your home. What price is the right price for your home and should you price it competitively or should you price it at a price higher than its value to leave room for negotiating? In the Calgary Real Estate market as in any real estate market, there are a few things you need to consider when pricing your home.
The first is what is the current market value of your home. This is different in every market however you need to know what your market value is so that you can consider if the list price that you choose is higher or lower than its current market value. This will certainly be a factor in how quickly it sells as well if it even sells at all.
There are several different prices for your home. For example, there is the price the bank says your home is worth or an appraised value. There is the price that a potential buyer says your house is worth and finally there is the price that you believe your house is worth. In each case the price is different.
How do you determine the current market value in your current market? In the Calgary Real Estate market as well as most real estate markets your Realtor will help you determine current market value based on several factors. One of which is a competition or active listings in your neighborhood. The second is the comparable sales of properties in your neighborhood. What other buyers have paid for similar properties is one of the most compelling factors in determining Market Value. The third is the condition of the home and what features in the home are old, in need of repair or in need of upgrading.
The second factor in determining a selling or listing price for your home is how quickly you want to sell your home. If you desire to sell your home quickly you will need to price your home very competitively with market value as well as competitively to your competition. When pricing your home if you provide the most value for the money. With more features or better upgrades than what your competition is offering for the same price or less, you will most likely be the next property to sell in your neighborhood.
Features and upgrades are considered by buyers when they are looking for a new home. When given the opportunity especially in the Calgary Real Estate Market buyers want to get the most options and features for the best price.
Pricing is not the only factor to consider when selling your home but it certainly is one of the most important. When selling your home in the Calgary Real Estate market or any market for that matter be sure to consult your local Realtor. They are there to help you!