Share team » Selling

2. Forget About What Your Home Used to be Worth!

Diana — Sat, 10 Jul 2010 18:07:40 +0000

The real estate market changes daily similar to the stock market. The Share Team is constantly analyzing sales and data in Lake Country, Kelowna and other parts of BC and even Arizona. Homes, expire are withdrawn from the market, sell and new competition comes on the market all the time. Real Estate prices don’t adjust as quickly as stock prices, however the market does change. Focus on what your property is worth today and what it will be worth in the next 3-6 months not last month or last year.

1. Be Objective

Diana — Fri, 09 Jul 2010 18:09:05 +0000

Try to be as objective as possible. Yes you have many fond memories and have even perhaps put a great deal of sweat and tears into your home, however a buyer doesn’t look at that. A buyer is more concerned with the condition of your home, location and size.

What is Market Value?

Diana — Thu, 08 Jul 2010 18:06:33 +0000

International Valuation Standards defines market value as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion.”

What Market Value is Not.

Diana — Wed, 07 Jul 2010 18:04:38 +0000

It is not the price you paid for the home plus some improvements you made and real estate commissions.
It is not how much your friend, in-laws, attorney, accountant, dentist, brother with a real estate license, neighbor or anyone else thinks your house is worth unless they are willing to buy it at that price and you are willing to sell it at that price.
It isn’t what you paid for the home plus what you need to get out of a home.
It isn’t more than what your neighbor’s house sold for because you like your house better.
It isn’t the historical rate of appreciation.
The Share Team has over 25 years valuating homes in all different types of economic markets. We will be able to adequately and honestly price your home. We will not give you an inflated price just to get a listing. Realtors that due that cost you valuable selling time for your home.

I have great empathy for today’s seller. I know what it feels like to lose equity. It is a sad reality of the current market and economy we are in. Here are some factors to keep in mind when pricing a home.

Tips to Pricing Your Home in a Down Market

Diana — Mon, 05 Jul 2010 22:38:53 +0000

: house for sale from Crestock Stock Photo

Be realistic. As Realtors we spend hours upon hours researching and evaluating properties. We have a very good idea of what a property is worth. Dealing with unrealistic expectations of a seller can be a huge stumbling block to getting your home sold. The market is saturated with hundreds of properties that will never sell without a price adjustment. Ignoring current competition, needing a certain sales price based on personal needs, believing upgrades and improvements are worth more than they really are, are common reasons why sellers over price their homes.I have empathy for today’s sellers. I know what it feels like to lose equity. It is an ugly reality of the market we are in.