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The Art and Science of Home Pricing

The Art and Science of Home Pricing

Pricing your homeFinding the value of a home for sale is both an art and a science.  It is not a cut and dry formula.  It isn’t a shot in the dark.  It cannot be driven by emotions or memories.  It is a mixture of art and science best left to the experts in the field- your trusted real estate advisor.

The Science:

Pricing a home can be a science by researching and formulating based on numbers.  A good realtor will look at area comparables (what similar homes in a similar geographical area sold for in a recent time frame), taxable value, appreciation, and a price per square foot analysis.  These four values can be analyzed to find a low-average-high expectancy for sale price.  Just looking at the pure numbers is a great place to start when pricing a home, but good realtors know there is also an art amongst the raw data.

The Art:

Pricing a home starts with the science of numbers and data.  Bedrooms, bathrooms, square footage, lot size, and location all play into a basic idea of value.  Good realtors will take the value analysis of a home to the next step by adding their skill of artfully looking at a home’s features and characteristics to help narrow the target pricing for valuing a home.  Knowledge of the current real estate market for the area, understanding of what features current buyers are looking for or are running away from, finding out how custom home features can add value, and experience all formulate the art of pricing a home.

While there will be websites and calculators out there to make it seem like an easy, no nonsense task of valuing a home- the best way to sell a home fast for the highest amount possible is by hiring a real estate advisor to let them use their craft of art and science of pricing a home.  Let the experts at Spica Real Estate who have first hand knowledge of today’s real estate market help you sell your home well priced for a quick sale.

 

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