Selling Your Home? Pricing is Often Your Largest Hurdle

Seller

You may want to, or simply need to, sell your current home. Pricing will make a great deal of difference in the process. Not pricing so high that you are out of the market range, and not so low that you loose money at the closing table is a difficult balancing act that has been played out ever since the first real estate transaction was contemplated. Even with many years of practice, it can sometimes surprise you, even when dealing with St. Augustine homes.

But I Need to Get THIS MUCH!

That is a common refrain. But I must get "X" number of dollars in order to buy the new house, go on the trip, and put my kid through school. The list of reasons why a seller wants a certain amount back from the sale are endless, and understandable.

The problem is, frankly, your house just may not have that much in equity to give back. Sad but true. After all the love and care you have put into your property, the only thing that determines how much you will get back is the current selling market. No amount of desperation or need will change the fact that you will only get the market value for your home.

This is where talking with your local realtor will be most helpful. They can tell you what the market is looking like, and give you an estimate of your return on the home. Then it is decision time. If you have the option to not sell in a slow market, is that what you wish to do? Do you sell anyway? Do you increase the price to the dollar amount you need, regardless of the market, because your house has always been special to you and you are certain others will see how special it is?

Competitive Pricing

Have a good look at your competition. Have they put in new appliances, a new roof, and new heat system? What are they listing their home at, and how long has it lingered on the market?

Now, what have you done recently? Remodeled a bath or the kitchen? New carpet? Fresh paint?

If you are trying to move the property quickly in the Ponte Vedra beach house market, look carefully at all the facts, and then price your home so that it is more attractive to the buyers than your competition’s house. If you are in no rush you can allow it to sit a bit higher for a short time, but time in your hands is another mortgage payment out of pocket.

At $1000 per month for a mortgage payment, that’s $5000 you have put out of pocket if the house does not move for 5 months. Subtract that from your bottom line every month and see if it still makes since to hold on to the higher price. It’s your choice in the end; just make certain you are making an informed decision, made with your head, and not your heart. An experienced realtor will help you to discern the difference and determine a fair market value for your home.

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