Seller's Resource Center - Market Analysis
Do Your Own Market Analysis
- Check out your competition - what is similiar to your property that is also for sale
- Gather pertinent information on similiar properties that have sold
- Research properties that were withdrawn from the market or expired listings with real estate
1) Were they over priced?
2) Are they in need of repair?
- Pick out at the three that are most similiar
1) 3 currently for sale
2) 3 recently sold (preferably within the past 6 months)
- Adjust the similiar properties with more or less value depending on how they measure against
your property - the subject property
- Where do you fit price wise within the current market?
- What is the probable price your property will sell for?
- These two prices should be within 5% of each other
- Be honest with yourself
- Do not trust word of mouth - get your information from the tax records or other reliable
- Do not adjust the value of the subject property - only the comparables
- Important features to adjust
1) Location - waterfront, oversized lot, etc.
2) Physical features - pools, type of construction, etc.
3) Economic changes - large corporation layoff
This information can be found in greater detail in
"A Complete Handbook for Selling Your
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