Sheila
Dowell,
Broker-Associate,
Keller Williams
The
“Listing” Price |
 |
Setting the listing
price for a home is “not a science”. Looking at
comparable “active homes” in the neighborhood
can give the homeowner a “sense” of what the market
is, but identifying the unique characteristics of the home,
e.g., golf course lot, water view or waterfront, swimming
pool, is a better way to assess “value”.
The “listing
price” for a home is typically the highest price we
believe the home will sell for.
In addition to
identifying the listing price, we always try to identify a
“range” for the sale price, too. Sellers might
identify the “bottom end of that range” as their
“bottom number for a sales price”.
When the home is
sold, an appraiser will evaluate the home based on sales in
the neighborhood for the most recent 6 months. Although they
will try to stay in a neighborhood when looking at recent
comparables, they are willing to “reach out” to
contiguous neighborhoods to find “comparable matches”.
They are adverse to trying to subjectively determine a value
for a pool/golf course lot/waterfront lot.
In the most recent
years, 2003-2005, sale prices have ranged at 97-98% of the
list price when a fair listing price is in place. When inventory
levels are very low, it is not unusual to see a “full
price” offer or multiple offers.
Looking to List
in the near future? Call me at 281-364-4838.
Sheila Dowell,
Broker-Associate,
Keller Williams
