Home Buyers engage in comparison shopping. They will not pay more for a property than they could pay for another, similar one.
Recently sold market data
Reveals what buyers have actually paid for similar properties.
Currently for sale
Shows properties competing for buyers’ attention right now.
Did not sell
Demonstrates what buyers have not been willing to pay under current market conditions.
A Competitive Market Analysis will give you a good idea for the realistic pricing of your property.
The higher a property is priced above realistic market value, the more time it will take to sell and the less interest it will attract. If your property is priced right, more buyers will be interested when it first hits the market. Since mortgages are based on fair market value, NOT the sale price, more buyers will be able to consider your property when it is priced correctly. If a property fails to appraise, it will either cause the buyer to make up the difference in cash or cause the sale to fall through.
Contact me Today for a Competative Market Analysis: Cell: 701-367-9267
