Here's how to price your Denver home and sell for top dollar.
Every seller wants to realize as much money as possible when selling his or her home. The natural inclination is to price your home high, thinking you can always come down in the future. But a listing price that is too high can be a disaster, and frequently nets the seller LESS money then they ever anticipated—even after paying a real estate commission!
Why is this?
Because buyers will reject your home in favor of other homes in a reasonable price range. If you are thinking of selling your home, you want to make sure you get top dollar. How can you do it? You’ll need a skilled Realtor, and today I'm sharing with you this strategy I use to set the best list price to get maximum dollar.
First of all let's talk about 3258 Fillmore Street listing that I had on the market last weekend. Fillmore is a great property to illustrate what this market is doing right now.
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Thirty days ago I was talking to my clients about their home value. I was looking at what was under contract, what was sold, and I was like you know we're probably the low sixes for this property. We'll probably list at $605,000- $610,000 but let's just hold off let's just see what happens the next couple of weeks.
Sure enough some some properties that were very similar to my listing came on the market. I followed up with the listing agents and said, "Hey what are you guys under contract for?". They were very gracious and one said you know like there's one right down the street that was under contract at like $685,000.
I told my clients like okay we're probably going to list now to high sixes, low sevens if we're lucky. But we don't want to start there because the market isn't ready to pay that just yet . . .How about we start a little bit lower and let the market really pay what this house is truly worth.
So we listed at $635,000 and we ended up with, BOOM! Ten offers for this amazing house. Five of them over seven hundred thousand. The highest was seven twenty six. We took a $710,000 cash offer and a two week close.
It was very interesting because when I was talking to some of these agents I felt like they didn't really know the market. I was kind of confused because the three or four say, "Hey we're looking at comps I'm not seeing value". Then I realized some agents are looking at comps and they're looking at sold homes which is like three to six months ago.
Well the last three weeks have been extremely different than at the last six months.
When you're really trying to figure out what a home is going to sell for what, the value is you really want to look at is what's under contract what has gone under contract in the last week or two, for a similar product (home) that will give you your best estimate of what the market's going to pay for your property.
Buyer demand is high today as more people are trying to beat rising mortgage rates. It’s the perfect time to sell because prices have never been so high. If the market’s declining, it’s best to discount your price up front. If the market’s rising, like our real estate market is right now, be prepared for full price offers, and bidding wars.
I can get you a free market analysis of your Denver Metro property today.
If you have any questions for me about pricing your Denver home for sale or real estate in general, don't hesitate to reach out via phone at 303.887.0588 or email email@example.com. I look forward to hearing from you soon.