Many factors need to be considered when developing a strategy for a successful home sale. These factors include exploring your motivation for selling, researching the best time to sell, searching for an excellent realtor, completing home improvements, pricing your home competitively, staging your home, marketing your home, and completing the closing process. Pricing your home correctly is a key factor in making a successful home sale. Correct pricing will maximize the number of buyers that want to come to take a look at your property, hopefully resulting in multiple buyers competing for the house. The entire process of selling a home can be stressful and working with top Fort Collins Real Estate Companies will help simplify the home selling experience. Contact us at Kittle Real Estate to develop a strategy for pricing your home.
What Factors Influence Home Prices?
1. Comparable Home Sales
Take a look at comparable homes in your area. Check out homes both pending and sold in the last six months. You can find this information from the Fort Collins Association of Realtors for the previous months and years. Find more MLS listings Fort Collins on the Kittle Real estate featured listings page. When looking at the homes sold in your area, pay close attention to the homes that are similar to yours. Look for homes with floor plans and square footage resembling your own, in a similar condition, on a comparable piece of property. This will give valuable insight into competitive pricing for your home.
Typical properties found in Fort Collins include:
- Single-family homes
- New Construction
- Historic Homes
2. Home Location
The location of your home plays a significant role in the asking price. Prices vary depending on if you live in a metropolitan, suburban, or rural location. The home’s proximity to schools, amenities, and entertainment all contribute to the price. If your home is in a desirable location with easy access to major roadways it can be priced higher than in a rural location without many amenities around. Buyers also love being able to walk to shopping, dining, and entertainment venues.
3. Home Condition
Another factor is the condition of your home. If your home needs renovations, the influence on the asking price depends on a few things. These factors include the type and scope of needed renovations, what the return on investment will be, and if the home will be valuable to buyers looking in the area. A home that is in need of repairs will likely attract fewer interested buyers than better-maintained homes at your price point. Chat with your realtor about strategic upgrades and repairs for your home to make it more desirable and more likely to sell quickly.
4. Market Condition
It’s important to understand current market conditions whenever you are ready to put your home on the market. A good place to check is the monthly housing statistics put out by the Fort Collins Board of Realtors and the Fort Collins Association of Realtors. For December 2020, new listings for single-family homes were up 2.3 percent. Townhouse-condo properties went up 14.9 percent. The median sales price now sits at $448,250 for single-family homes after going up 6.2 percent and townhouse-condo properties are at $316,885 after going up 2.6 percent. It continues to be a seller’s market.
The neighborhood in which your home is located will also affect pricing. Some neighborhoods are more popular than others and offer different benefits. Check out Kittle’s Neighborhood Report to find out more about the various neighborhoods in Fort Collins. When finding information about neighborhoods, some important things to look into are safety, commute, access to public transportation, cleanliness, the condition of other homes in the neighborhood, if there is an HOA, and the presence of neighborhood amenities.
6. Real Estate Company Reputation
Working with a reputable real estate company can play an important role in earning more money for your home sale than current market standards. When people driving by the home see a sign with one of the top Fort Collins real estate companies listed on it, they may be more likely to inquire. A solid real estate company will more than earn their commission by providing guidance and expertise for your home sale. An experienced agent can recommend projects to complete to boost your home worth, market the home, hold open houses, and explain and walk you through all paperwork. Do some research to learn more about what a realtor does and how to hire top realtors. Kittle Real Estate has extensive local knowledge and has been in the real estate business for more than 19 years. Read more about the team to see how they can help maximize your profits from your home sale. See our reviews to hear from our long list of satisfied clients.