Factors That Affect Your Home’s Sale

There are three main factors that determine how marketable your home is – price, condition, and time.

PRICE – If your home is priced too high, you must be willing to wait much longer for your home to sell. Either it will take that much longer to find someone to pay more than the home is worth, or the market will eventually catch up to the asking price of the home through inflation.

CONDITION – The interior and exterior appeal of the property as well as the condition are also major factors for buyers to consider.  Designing, hiring contractors, and performing renovations well is not an easy task.  The majority of the buyers do not have the cash or time to perform renovations before moving in.  As a result, they would rather offer a higher price for a property to be nicely upgraded for move-in ready.

TIME – If your time frame is important then you must be willing to list an attractive price.

How Much Should You Ask for Your Home?

Of course, you want to get the full market value for your home. The first step to getting the best price is to determine your home’s value.  As your Agent or Broker, we can help you set an asking price by taking the following factors into consideration:

• Your home’s value may depend on recent selling prices of comparable homes in your area. After reviewing the selling prices for such homes, the price is adjusted according to current market trends.
• Buyers most likely look in the price range determined by their monthly payment ability and down payment. Buyers are often very knowledgeable in their price range and purchase by comparison. Unreasonable asking prices are an immediate turn-off.
• Inviting a potential buyer to make an offer shows that you are willing to bargain. However, if your asking price is outrageous, the buyer’s offer will most likely also be unreasonable.
• It’s necessary to offer pricing, terms, and conditions that are competitive in your market. This will help you sell faster and get the full market value.

We need to sell but we owe more than market value, what to do?

Cornerstone Group can help you perform a Short Sale to avoid a Bank Foreclosure on your property.  Of all types of real estate transactions, property owners have the highest risk if he/she does not hire an experienced, capable, and knowledgeable Broker/Agent to list a Short Sale property.  There are many factors involved in a Short Sale listing that require a professional who can deal with buyers, remodeling, financing, lenders, negotiation, legal agreements, stringent timelines, etc.  Per past short sale history, the lesser amount a property owner owes to the bank, the greater the chance for him/her to be on the road to recovery and become a property owner again.  A foreclosure record is much more harmful and devastating to property owners’ future financial status than a short sale.   We have encountered property owners hiring family and friends, who lack experience and knowledge on listing a Short Sale transaction, which led to a property being foreclosed on.  Alisha Chen, the CEO of Cornerstone Group has helped many Short Sale clients in the past successfully complete Short Sale transactions.  Many of them today now own multiple properties!  If you are encountering a Short Sale situation, contact us immediately before time runs out!