Selling Your Home In The Charlotte Area
If you are a current homeowner in the Charlotte Area, consider yourself lucky. There is a lack of homes on the market and an overabundance of buyers dying to find a house. Home values have appreciated at an average of about 6 percent over the past couple of years. (That is an average, and location is a big factor). Nonetheless, your house is worth more now that it probably ever has been. Its a GREAT time to sell! With this being said, it is STILL important when selling to price your home correctly. I cannot emphasize this enough!
I get calls all the time from people wanting to sell their home. When I meet with them in person and begin to talk about pricing, they usually refer to “well, Zillow says my home is worth 50k more than what you are saying.” I know people love Zillow, and it’s a great tool, but I always ask… “Has anyone from Zillow been out here to see the inside of your house? Assessed the condition? Seen your upgrades? Or lack of upgrades?” Some people understand, and some are still convinced their home is worth more than what it actually is.
Avoid Overpricing Your Home!
There are many issues that will arise when overpricing your home. There is a certain process called an appraisal that I will cover more in depth in a future post. An appraiser is going to be sent to your home to estimate the actual true value of the home using a comparison method. This means they will look at other “comparable” homes selling in the area that have recently sold and compare them to yours.
They will then set a value, and this is the number that the buyers’ lender will allow them to finance. So in short, if your house doesn’t appraise for the list price you choose, it most likely won’t sell. This is where an experienced Broker (like myself) comes in handy. We know what has sold, when it sold, how much it sold for, the condition of the homes, how many days the homes were on the market, which is all very important to know. We can then compare and estimate to come up with a “recommended” fair market listing price for your home.
As a Realtor, I stay away from clients who want to overprice their home. It’s a lose-lose situation that tends to get ugly. When homeowners are convinced their home is worth more than what it actually is, and a Realtor agrees to list it for what they want, the house sits on the market forever. The Realtor is then the one to usually get the blame for the house not selling. I HATE turning down business, but this is a situation that only takes one time of being in the middle to realize it’s not worth the headache.