If you are considering a sale of your house, condo or other piece of La Jolla real estate, you’ll need to determine its value so you can set your initial listing price. In this article we’ll take a look at a few tips on how to establish the true value of your home.
Begin with Realistic Expectations
As selling your home is a financial transaction that involves a number of variables that are both inside and outside of your control, it’s important to go in to the process with realistic expectations. Most homeowners develop a significant emotional attachment to their home, furnishings, décor and fixtures, having spent years getting things ‘just right’. However, while some renovations and improvements add value to a home, some can actually devalue the property in a buyer’s mind. When a potential buyer tours through your house or condo, they’re going to have their own considerations and if that involves making costly changes after the sale is complete, it can bring down their offer.
Work with a Qualified Real Estate Assessment Team
Evaluating how much a house and a piece of property is worth is an arduous task that is best left to real estate professionals that are aware of market trends. For example, were you aware that price swings of $50,000 or more are common between seasons in La Jolla? Your listing price is dependent on a variety of factors which a qualified real estate agent can advise you on. Trust in our expertise – we’re here to help you succeed.
Research and Study Local Market Data
Finding the delicate balance to ensure you come away with the maximum amount of equity from your home and property involves a lot of research. Real estate trends in La Jolla, San Diego and our surrounding communities will play a major factor in how quickly your home is sold, and whether a premium is paid or a discount is demanded. Within your neighborhood it’s worth knowing what homes are listed on the market, which have recently sold, and how much they sold for. Factor in recent sale prices but don’t try to base your home’s value off of other active listings, as these prices may end up coming down.
React Quickly if Things Aren’t Going Well
If you find that you aren’t receiving many offers on your home or you are hearing from prospective buyers that your price is aggressive, you’ll need to move quickly. The majority of your interest will come in the first days and weeks after your listing goes live – if you miss out on the early opportunities you may end up having to drop your price further. Let us assist with the process of listing and marketing your home, as our team knows the La Jolla real estate market inside-and-out, and we can advise if your pricing is off.
When you’re ready to sell your La Jolla home, Ryan, Tracie and the rest of our real estate team is ready to help. Contact us today to book your home evaluation – we look forward to working with you!