Is Your House Underpriced?

by Zarine, REALTOR® 01/05/2020

As a home seller, you likely want to set a "fair" initial asking price for your residence. Because if you fail to do so, you risk pricing your home outside of your target buyer's price range. Perhaps even worse, you risk pricing your house too low – something that may cause you to miss out on the opportunity to maximize your home sale earnings.

Ultimately, there are lots of things that you can do to ensure you establish a fair initial asking price for your residence, and these include:

1. Study the Local Housing Market

For home sellers, it is important to perform plenty of research before you list your residence. If you assess the local housing market closely, you can obtain insights that you can use to set a fair initial asking price for your home.

Evaluate the prices of available houses in your city or town that are similar to your own. This will help you determine the price range for comparable houses in your area.

Also, find out how long some of the recently sold houses in your city or town were available before buyers purchased them. This can help you differentiate a buyer's market from a seller's market so you can price your house appropriately.

2. Conduct a Home Appraisal

A home appraisal delivers immense value, as it enables you to receive a property valuation. Once you have a property valuation in hand, you may be better equipped than ever before to determine how to price your house.

In addition to a home appraisal, you may want to conduct a house inspection as well. During a house inspection, a property expert will review your home and identify any underlying issues. You then can use a house inspection report to prioritize home repairs and upgrade your residence before you add it to the local real estate market.

3. Work with a Real Estate Agent

As you search for ways to get the best price for your home, you may want to hire a real estate agent. In fact, if you have a real estate agent at your side, you can receive comprehensive support throughout the house selling journey.

A real estate agent will learn about your home and help you determine exactly how to price it. Next, he or she will promote your residence to buyers. And if a buyer submits an offer to purchase your residence, a real estate agent will help you decide whether to accept, reject or counter this proposal.

Furthermore, a real estate agent is a home selling expert who is happy to share his or her housing market insights with you. If you ever have concerns or questions as you navigate the house selling journey, a real estate agent can address them.

Setting the right price for your home sometimes can be difficult. Thanks to the aforementioned tips, you can establish a fair initial asking price for your residence. As a result, you may be able speed up the home selling journey and optimize your house sale earnings.

About the Author
Author

Zarine, REALTOR®

With over two decades of real estate industry experience, Zarine focuses on the San Francisco Bay Area marketplace. From single family homes, condos, townhouses to multi-family residences. She works extensively with investors to upgrade, remodel sell residential and commercial properties. She has consistently been in the top 5 agents out of over 300 agents in the Company.

Zarine has been a Bay Area resident since 1977. She has been active in real estate since 1988. In addition to helping buyers and sellers find their dream home, Zarine and her husband Neville started investing in Real Estate in the Bay Area since 1978. They own and maintain several rental properties and also regularly purchase, fix, and sell homes. They have a team of contractors, landscapers, and tradespeople that they can recommend. They built our own home from scratch and worked closely with the architect in the vision and design. Together, they are involved in every aspect of real estate and live it daily.

Having traveled extensively around the world, Zarine is able to accommodate each of her clients’ unique needs, and prides herself on being a strong listener and communicator. Zarine’ s communication skills are an integral part of her success in real estate. She meets clients from all walks of life and dedicates herself to understanding each of their needs and goals. Zarine and Neville love what they do and have won several awards over the years. They are dedicated and have been with J.F.Finnegan brokers since 1995. In turn their clients are loyal as 95% of their business is from referrals. Real estate is more than just a profession to them; it is their hobby and passion.

PERSONAL INTERESTS:

Originally from Bombay, Zarine and Neville go back to India to visit family. They have travelled extensively around the world and love their annual escape to Maui. Zarine enjoys cooking, entertaining, gardening, reading, movies, and life! They have two daughters who live in San Francisco and their joy in their life are their three grandchildren.

AWARDS:

  • 2016 Emerald Elite #2 in the whole Company
  • 2015 Emerald Elite # 3 in the whole Company
  • 2014 Platinum Award #5 in the Company
  • 2013 Emerald Elite #1 Team in the Company
  • 2012 Platinum Award #1 Team in the Company
  • 2011 Platinum Award #1 Team in the Company
  • 2010 Masters Award #1 Team in the Company
  • Consistently Among the top 3 individual agents of over 300 agents at BHG
  • Chairman's Circle (Consistent Winners 2001, 2002, 2003,2004,2005,2006,2007,2008,2009)
  • Winners of SAMCAR “SAMMY AWARDS”
  • San Mateo Association of Realtors (SAMCAR),California Association of Realtors (CAR), National Association of Realtors (NAR) San Jose Apartment Owners Association
  • Fine Homes Specialists, E Certified, Bankers Preferred Mortgage, CARTUS Relocation Certified