Determining the List Price vs The Buyer Price
When I am doing a sold market analysis (SMA) for an upcoming listing appointment, I look at the sales in the neighborhood for the last 3 months. I try to find the most similar properties and compare them against the Seller’s house.
I ALSO do an active market analysis (AMA) comparing similar properties currently for sale. Why? Most buyers look at all properties for sale that fit their criteria and price range. So, if the seller’s house is a 3 bedroom 1 bath, 1200 sqft under 150k, they’ll be looking at ALL other 3/1’s for sale under 150k. I believe that it is important to see how your property stacks up against similar houses, in the same price range.
The sold properties are what appraisers use. I believe it is important to see what BUYERS will be using, too. Most often, they’re comparing your house to the other properties they’ve seen on the market.
Contact Kirkwood Property Group when you’re ready to sell your house. We will help you make informed real estate decisions.