The Pitfalls of Pricing Too High or Too Low

When you sell your house, pricing too high or too low can be costly. You need to be aware of timely market trends when you assign a price to your house if you want to maximize your sale.

Interested in buying a home? GO HERE to perform a Full Home Search, or if you're considering selling, CLICK HERE to receive a Free Home Value Report. For any other questions, please reach out to me at (719) 299-5778, or email me at Donny@IntegrityTeam.net.

As a real estate professional, I'm often asked what the pitfalls of pricing your home too high or too low are.

Pricing your house is not an exact science. To determine the value of a home, you need to really know what's going on in the marketplace at that time. If the market is on an upward tear, you want to price your home just above what you expect to get for it. This allows you to adapt to the current market conditions and avoid leaving any money on the table. On the other hand, if the market is heading downward, you want to price your home just below what you expect to get.

Market data will tell us what the trend of the neighborhood is.

To determine these values, we look at comparable home sales in your neighborhood. What did your neighbor's house sell for? What have homes in your neighborhood with similar square footage sold for in the last six to 12 months?

Analyzing this data will tell us what the trend of the market is, which allows us to price your home within that data. As a former registered appraiser, my job is to find the right value for your home and price it within the market constraints. Pricing too high will lead to your home sitting on the market for a long time and receiving multiple lowball offers and not getting the most money possible. Pricing too low may leave money on the table.

If you're thinking about selling your home, I'd love to sit down and talk with you about maximizing your sale based on today's market conditions in Colorado Springs. Give me a call or send me an email and let's keep this conversation going.

Why Selling FSBO Isn’t a Great Idea

Selling your home FSBO (For Sale By Owner) is tricky. While it’s true you don’t have to pay a commission, you leave yourself vulnerable in a number of ways.

Interested in buying a home? GO HERE to perform a Full Home Search, or if you're considering selling, CLICK HERE to receive a Free Home Value Report. For any other questions, please reach out to me at (719) 299-5778, or email me at Donny@IntegrityTeam.net.

If you are attempting to sell your home For Sale By Owner (FSBO), I get what you’re going for. You don’t want to have to pay that commission, and you think by selling your own home you’ll save all that commission.

However, you should know that the leading reason that sellers end up in litigation in real estate is due to FSBO situations. By not having the proper contracts or negotiations, you can leave yourself exposed to long-term liability issues with your former home.

I encounter a lot of FSBOs and I’m happy to say I’ve been able to work with quite a few of these sellers to ultimately end up netting them more money than they thought they would get on their own.

We simply have the systems and marketing in place to capitalize on the market, get you the most money possible for your home, reduce your liability, and do it in the least amount of time possible.

We can minimize your cost while maximizing your net.

If you would like to work with a licensed professional in selling your home, I would be happy to discuss with you how we can market and sell your property for minimal cost while maximizing your net. FSBOs can be difficult because a lot of people simply don’t know all it takes to close a sale.

With a licensed professional, you can reduce your exposure to litigation and maximize your marketing, allowing you to get top dollar for your home. If you have any questions, don’t hesitate to reach out. Give me a call or send me an email today.

Why Is the Final Walkthrough So Important?

Days or hours before you close on your home, we will walk through the property to make sure it’s in working condition. There are many reasons why the final walkthrough is so important.

Interested in buying a home? GO HERE to perform a Full Home Search, or if you're considering selling, CLICK HERE to receive a Free Home Value Report. For any other questions, please reach out to me at (719) 299-5778, or email me at Donny@IntegrityTeam.net.

The final walkthrough is a crucial part of the closing process. Days or hours before you close on your home, we will walk through the property to make sure it’s in working condition.

It’s very important that you use a checklist during the walkthrough to make sure that you don’t miss anything. Part of that checklist will include your inspection resolution items, but there will also be other features on the list that we need to look at before closing.

After the walkthrough, you will head to the title company and close on the home, so it’s incredibly important that you check on the property one last time in order to verify that there have been no conditional changes that may prevent you from wanting to close on the home.

If the property is vacant, the final walkthrough is extra important because there might have been vandalism or theft since you last looked at the property. The walkthrough allows you to take appropriate action with any issues before you actually own the home.

At this stage in the home buying game, you don’t want any surprises.

At this stage in the game, you don’t want any surprises. By using a checklist, we can ensure that all of the repairs you requested have been taken care of and that no additional issues have popped up in the meantime.

Our checklist really saved one of my clients a lot of hassle. We walked through the property just hours before heading to the title company only to discover that the water heater had been stolen. It would have been terrible for my client to find out the water heater was missing after closing. However, since we did the final walkthrough, the seller replaced the water heater before my client closed on the home.

As you can see, the final walkthrough is an awesome way to avoid a lot of pitfalls in the process of buying a home, especially if the home is vacant. You simply don’t know what’s going to happen before you close on it.

If you have any questions about the final walkthrough or about the home buying process in general, give me a call or send me an email. I would be happy to help you!