Pricing is perhaps the single most important step in preparing your property for sale. A buyer’s first impression of a property is directly related to how the value is perceived in the current market climate. If it does not feel well-priced in comparison with other available properties it will negatively impact an otherwise good first impression.
Determining Fair Market Value
Fair market value is the highest price at which a willing buyer will buy and a willing seller will sell. In a strong seller’s market, homes in San Francisco often sell for above the asking price. Many factors are considered in determining the fair market value of a home in San Francisco:
- Location, size, condition and demand for the type of property
- Recently sold comparable properties
- Competition from comparable properties on the market
- Availability of financing
- Interest Rates
- Terms of the sale
Taking Advantage of Optimum Exposure
Your property will get the most attention during the first two to three weeks of market exposure. Statistically, you will most likely receive the highest price during this period as well. If your property is overpriced during this critical period and a price reduction becomes necessary, it is unlikely that you’ll again achieve the level of activity experienced during the initial period. Pricing it right from the start is critical to the successful sale of a home in San Francisco.
Comparative Market Analysis
Buyers lose interest over time, and tend to equate a property’s desirability with having a low days on market (DOM) count, so pricing your San Francisco home correctly from the start is vital. We are happy to provide you with a no-obligation, no-cost comparative market analysis that looks at recent sales and current competition. Our market analysis will provide a pricing strategy , allowing you to decide if we can help you achieve your goal in the current market.
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