Are you considering selling your Ventana Ranch Home? Then you need to get a market analysis from an experienced Albuquerque Realtor.
Free Market Analysis for Your Ventana Ranch Home
A good market analysis will help you understand an accurate price for your neightborhood. It should help you determine a realistic price for your home that will bring you as much money as the market will bear within a reasonable length of time.
Here are some of the factors Realtors and Appraisers use to determine the value of your home:
- Closed comparable sales. The value of your home is determined by the value of other homes in your neighborhood that have recently sold. The price of homes that are currently for sale cannot be used to determine value until they have been closed. What if your neighbor has overpriced their home and it hasn't sold? Would you want to overprice your home too? Overpriced homes don't sell, by the way, so the answer should be an emphatic "NO!"
- Location. The comparable sales used to determine the value of your home need to be located very near by. Appraisers will rarely go further than one mile away, especially if there are other recent sales located closer to your house. They will not bend over backwards to pick the best comps for you, they will pick the closer sales.
- Recent sales. Comparable sales need to be the most recent comparable sales, they need to be "fresh" and reflect the current market climate. Values go up and down like the stock market. No one would pay peak price for a stock when they realize they could pay less for it today.
- Square footage. The size of your home is very important when determining value, and it's helpful to compare the price-per-square-foot from one house to another, but it rarely yields an accurate list price for a home.
- Builder. In some area of town you can find custom homes next to tract homes. They should not priced similarly. The same is true if you have a Pulte Home. You shouldn't use the sale of a KB Home as a comparable sale unless their are not any recent sales of Pulte homes to use as comps.
- Lot size. I remember in 2007 some builders were charging up to $30,000 for larger lots in their communities. They can't do that anymore, and neither can you. Yes, it will increase your homes value, but not like it used to.
- Cooling. Does your home have refrigerated air? These days when everyone is concerned about energy efficiency swamp coolers are quickly becoming obsolete.
- Number of Bedrooms. An extra bedroom should bring a slightly higher sales price. I can't tell you exactly how much, it varies from neighborhood to neighborhood, but it's usually not more than $1,000 to $1,500, not $15,000!
- Options/upgrades. Here are some other features that add value. Does your house have ceramic tile while the comps have vinyl flooring? Add value. Does your house have wood floors while the comps have carpet? Add more value. How about the appliances. Are they Stainless Steel or white? It seems like everyone wants stainless steel these days. Ca ching-Add value.
That's not even a complete list of the factors that go into accurate pricing of a home. I didn't even mention landscaping, paint colors, decor and furniture (yes, your furnitue matters!) or views.
In today's super competitive market, you need to use an agent who understands acurate pricing. Contact me, Rich Cederberg, today for your free market analysis.
Free Market Analysis for Your Ventana Ranch Home
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Albuquerque Realtor Rich Cederberg works for RE/MAX Finest in Albuquerque New Mexico. Previously Rich worked for RE/MAX Elite and the Vaughn Company Realtors for 5 years. He specializes in Albuquerque Real Estate, Northwest Albuquerque Real Estate, Rio Rancho Real Estate and Los Lunas Real Estate. He especially enjoys working with First Time Home Buyers. Call 505.803.5012 or email Rich Cederberg if you need a Albuquerque REMAX agent.
