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MarComparativeketAnalysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 CMA for Mike Medina SEPTEMBER 1, 2022 Christopher Wanless The Bartic Group
Contact Me Christopher Wanless The Bartic Group 50 S. Steele St. Denver CO 80209 christopher@thebarticgroup com 720 837 4299 720 208-7200 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 3
Online Valuation Analysis How accurate are Zestimates? 4.3% $20,600 Zestimates varied up to 4.3% or $20,600 compared to actual MLS prices. P ADDRESS PRICE ZESTIMATE DIFFERENCE 1270 W 102nd Place $475,000 $495,600 4 3% S ADDRESS SOLD DATE SOLD PRICE ZESTIMATE DIFFERENCE 1045 W 101st Avenue 5/31/22 $491,000 $498,500 1.5% 1126 W 102nd Avenue 4/6/22 $530,000 $544,100 2 7% 1149 W 102nd Avenue 5/3/22 $589,000 $569,700 3.3% Source: Zillow 1 3PendingSold Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 4
1027 W 102nd Ave, Northglenn, CO 80260-6233, Adams County Active Listing APN: R0042641 CLIP: 7697853673 MLS Beds 5 MLS Full Baths 2 Half Baths N/A MLS List Price $525,000 MLS List Date 06/23/2022 MLS Sq Ft 2,132 Lot Sq Ft 9,790 Yr Built 1964 Type SFR OWNER INFORMATION Owner Name Wieser Robert P Mailing Zip 80260 Owner Name 2 Koenig Linda Mailing ZIP 4 6233 Mailing Address 1027 W 102nd Ave Mailing Carrier Route C053 Mailing City & State Northglenn, CO Owner Occupied Yes LOCATION INFORMATION Property Zip 80260 Neighborhood Code Northglenn 300 Property Zip4 6233 Neighborhood Name (OnBoard) Victoria Heights West Property Carrier Route C053 Township 02S School District Adams 12 5 Star Schl Range 68W Elementary School Hillcrest Section 16 Middle School Silver Hills Quarter NE High School Northglenn Block 14 Subdivision Victoria Heights West Lot 20 Census Tract 93.04 TAX INFORMATION PIN R0042641 % Improved 77% Alternate PIN 1719 16 1 08 006 Tax District 134 Schedule Number R0042641 Legal Description SUB:VICTORIA HEIGHTS WEST B LK:14 LOT:20 ASSESSMENT & TAX Assessment Year 2022 Preliminary 2021 2020 2019 Market Value Land $88,000 $88,000 $86,000 $86,000 Market Value Improved $288,890 $288,890 $251,467 $251,467 Market Value Total $376,890 $376,890 $337,467 $337,467 Assessed Value Land $6,120 $6,290 $6,150 $6,150 Assessed Value Improved $20,080 $20,660 $17,980 $17,980 Assessed Value Total $26,200 $26,950 $24,130 $24,130 YOY Assessed Change (%) 2 78% 11 69% 0% YOY Assessed Change ($) $750 $2,820 $0 Tax Year Total Tax Change ($) Change (%) 2019 $3,085 2020 $3,083 -$2 -0 07% 2021 $3,415 $332 10 77% CHARACTERISTICS Lot Frontage 89 # Buildings 1 Lot Depth 110 Total Rooms 6 Lot Acres 0 2247 Bedrooms Tax: 3 MLS: 5 Lot Sq Ft 9,790 Baths Total 2 Land Use County Single Family Resid MLS Total Baths 2 Land Use CoreLogic SFR Baths Full 2 Building Type Residential Stories 1 Style Ranch Cooling Type Central Year Built 1964 Heat Type Forced Air Bldg Sq Ft Above Ground 1,066 Garage Type Attached Garage Bldg Sq Ft Basement 1,066 Garage Capacity MLS: 3 Bldg Sq Ft Finished Basement 955 Garage Sq Ft 286 Bldg Sq Ft Unfinished Basement 111 Roof Material Composition Shingle Bldg Sq Ft Total 2,132 Construction Frame Bldg Sq Ft Finished Tax: 2,021 MLS: 2,132 Exterior Frame/Masonry Property Details Courtesy of Christopher Wanless, REcolorado Generated on:09/01/22 The data within this report is compiled by CoreLogic from public and private sources The data is deemed reliable, but is not guaranteed The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality Page 1/3
Bldg Sq Ft 1st Floor 1,066 Quality Fair Basement Type Finished Equipment Whe, Ssk FEATURES Feature Type Size/Qty Unfinished 1,066 Water Heater 1 Bath 3 1 Bath 4 1 Laundry Facility 1 Sink Standard 1 Attached 286 Detached Garage 616 Allowance 1 Finished 955 Building Description Building Size Single Family 1 SELL SCORE Rating Low Value As Of 2022 08 28 04:41:57 Sell Score 389 LISTING INFORMATION MLS Listing Id 4678175 MLS Current Price $525,000 MLS Days On Market 71 MLS Original List Price $550,000 MLS Source REcolorado MLS Listing Contract Date 06/23/2022 MLS Status Active MLS List Office Name KELLER WILLIAMS INTEGRITY RE AL ESTATE LLC MLS Status Change Date 06/23/2022 MLS List Agent Full Name 55053889 Blake Buckley
Document Type Quit Claim Deed Quit Claim Deed Warranty Deed Quit Claim Deed Quit Claim Deed Title Company First Integrity Title Lending Tree Settleme nt Sale Date 04/08/1992 08/09/1991 06/29/1988 $70,000 HISTORY Date 09/11/2019 05/13/2010 02/19/2008 10/15/1998 10/01/1996 $87,100 $109,055 $110,000 $99,000 $89,500 of Christopher Wanless, REcolorado Generated on:09/01/22 data within this report is compiled by CoreLogic from public and private sources The data is deemed reliable, but is not guaranteed The accuracy of the data contained herein be independently verified by the recipient of this report with the applicable county or municipality Page 2/3
Sale Price
Property Details Courtesy
can
Nominal Y Y Buyer Gujda Diane L & Gujda M J Mahan Diane L Mahan Richard J Buyer Gujda Gujda M J Seller Gujda Diane L Mahan Richard J Monahan John T Document Number 3890 127 3806 34 3464 391 Document Type Quit Claim Deed Quit Claim Deed Warranty Deed Title Company MORTGAGE
The
Mortgage Amount
Mortgage
LAST MARKET SALE & SALES HISTORY Sale Date 09/25/1996 Deed Type Warranty Deed Sale Price $118,500 Owner Name Wieser Robert P Price per SqFt Finished $58 63 Owner Name 2 Koenig Linda Document Number 4849 347 Seller Gudja Michael J & Diane L Sale Type Full Sale Date 08/12/2019 12/13/2007 09/25/1996 10/10/1992 10/09/1992 Sale Price $17,000 $118,500 Nominal Y Y Y Buyer Wieser Robert P Wieser Robert P Wieser Robert P & Kelli Jo Mahan Diane L Gujda Diane L & Gudja M J Buyer Koenig Linda Wieser Kelli Jo Gujda Gudja M J Seller Wieser Robert P Wieser Robert P Gudja Michael J & Dian e L Mahan Richard J Gujda Diane L Document Number 75816 12470 4849 347 3967 577 3967 576
Mortgage Lender American Financing C orp Jp Morgan Chase Bk Lendingtree Lns Carl I Brown Mtg Norwest Mtg Inc Borrower Wieser Robert P Weiser Robert P Wieser Robert P Wieser Robert P Wieser Robert P Borrower Koenig Linda Wieser Kelli J Wieser Kelli Jo Mortgage Type Conventional Conventional Conventional Conventional Conventional Mortgage Purpose Nominal Refi Resale Refi Resale Mortgage Term 15 30 30 Mortgage Term Years Years Years Title Company Transnation Title Ins C o Mortgage Date 10/13/1992 Mortgage Amount $68,343 Mortgage Lender Sears Mtg Corp Borrower Gujda Diane L Borrower Gujda Gudja M J Mortgage Type Va Mortgage Purpose Nominal Mortgage Term Mortgage Term Title Company PROPERTY MAP *Lot Dimensions are Estimated Property Details Courtesy of Christopher Wanless, REcolorado Generated on:09/01/22 The data within this report is compiled by CoreLogic from public and private sources The data is deemed reliable, but is not guaranteed The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality Page 3/3
Map of Comparable Listings STATUS: P = PENDING S = CLOSED MLS # STATUS ADDRESS BEDS BATHS SQFT PRICE 1 Subject 1027 W 102nd Ave 3 2.00 1,066 2 3202407 P 1270 W 102nd Place 4 3.00 1,066 $475,000 3 9732333 S 1045 W 101st Avenue 4 2 00 1,326 $491,000 4 2385047 S 1126 W 102nd Avenue 4 3.00 1,386 $530,000 5 2420341 S 1149 W 102nd Avenue 5 2 00 1,352 $589,000 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 6
Summary of Comparable Properties P PENDING LISTINGS ADDRESS SOLD DATE BEDS BATHS SQFT PRICE $/SQ.FT 1270 W 102nd Place 4 3.00 1,066 $475,000 $446 Averages 1,066 $475,000 $446 S SOLD LISTINGS
ADDRESS SOLD DATE BEDS BATHS SQFT PRICE $/SQ.FT 1045 W 101st Avenue 5/31/22 4 2 00 1,326 $491,000 $370 1126 W 102nd Avenue 4/6/22 4 3.00 1,386 $530,000 $382 1149 W 102nd Avenue 5/3/22 5 2.00 1,352 $589,000 $436 Averages 1,354 $536,666 $396 1027 West 102nd Avenue, Northglenn, Colorado 80260
Comparative Market Analysis
Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 7
Listings
Christopher Wanless The Bartic Group
1270 W 102nd Place Northglenn, CO 80260 MLS #3202407 $475,000 4 Beds 3.00 Baths 1,066 Sq. Ft. ($446 / sqft) PENDING 8/7/22 Year Built 1963 Days on market: 12 Details Prop Type: Single Family Residence County: Adams Subdivision: Heftler Homes Hillcrest 2nd Filing Full baths: 1.0 3/4 Baths: 2 0 Lot Size (sqft): 9,460 Garages: 1 List date: 7/15/22 Pending date: 8/7/22 Off-market date: 8/7/22 Updated: Aug 7, 2022 5:48 AM List Price: $475,000 Orig list price: $475,000 Taxes: $3,429 School District: Adams 12 5 Star Schl High: Northglenn Middle: Silver Hills Elementary: Hillcrest Features Appliances: Dishwasher, Disposal, Dryer, Oven, Refrigerator, Washer Association Yn: false Basement: Finished Below Grade Unfinished Area: 162.0 Construction Materials: Frame Cooling: Evaporative Cooling Heating: Forced Air Levels: One Listing Terms: Cash, Conventional, FHA, VA Loan Living Area Total: 1970 Main Level Bathrooms: 2 Main Level Bedrooms: 3 Parking Total: 1 Roof: Composition Senior Community Yn: false Sewer: Public Sewer Structure Type: House Tax Legal Description: SUB:HEFTLER HOMES HILLCREST 2ND FILING BLK:21 LOT:11 Tax Year: 2021 Water Source: Public Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 9
1027 West 102nd Avenue, Northglenn, Colorado 80260
Remarks Welcome home to this beautifully cared for fully updated brick ranch with a full finished basement. Enjoy those quite moments while waving to the neighbors on your peaceful covered front porch. Original hardwood floors throughout the main level are sure to please. The open kitchen features stainless steel appliances and a spacious area for cooking and socializing. The main floor includes three bedrooms, a full size hall bathroom, and a 3/4 bath in the master bedroom. All bathrooms are fully updated with gorgeous tile work and fixtures. Relax in your fully finished basement featuring a massive flex space, a nonconforming bedroom, and 3/4 bath. Plenty of room downstairs for office, play, or exercise space. Spectacular backyard with mature trees and landscaping provides the perfect park-like escape. The large patio is perfect for grilling and relaxing with friends and family. Schedule your showing today! Your perfect Northglenn castle awaits you!
Comparative Market Analysis
837 4299 christopher@thebarticgroup com 10
Wanless The Bartic Group Cell:
Christopher 720
1270 W 102nd Place Northglenn, CO 80260 MLS #3202407 $475,000 4 Beds 3.00 Baths 1,066 Sq. Ft. ($446 / sqft) PENDING 8/7/22 Year Built 1963 Days on market: 12 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 11
1045 W 101st Avenue Northglenn, CO 80260 MLS #9732333 $491,000 4 Beds 2.00 Baths 1,326 Sq. Ft. ($370 / sqft) CLOSED 5/31/22 Year Built 1963 Days on market: 1 Details Prop Type: Single Family Residence County: Adams Subdivision: Victoria Heights Full baths: 2 0 Lot Size (sqft): 9,324 Garages: 3 List date: 5/5/22 Sold date: 5/31/22 Off-market date: 5/6/22 Updated: May 31, 2022 10:25 AM List Price: $450,000 Orig list price: $450,000 Taxes: $3,372 School District: Adams 12 5 Star Schl High: Northglenn Middle: Silver Hills Elementary: Hillcrest Features Appliances: Dryer, Range, Refrigerator, Washer Association Yn: false Basement: Finished, Unfinished Below Grade Unfinished Area: 1326.0 Building Area Source: Public Records Concessions: No Construction Materials: Frame Cooling: Central Air Fireplaces Total: 1 Heating: Forced Air Laundry Features: In Unit Levels: One Listing Terms: Cash, Conventional, FHA, VA Loan Living Area Total: 1326 Main Level Bathrooms: 1 Main Level Bedrooms: 3 Parking Total: 3 Road Surface Type: Paved Roof: Composition Senior Community Yn: false Sewer: Public Sewer Structure Type: House Tax Legal Description: SUB:VICTORIA HEIGHTS WEST BLK:12 LOT:23 Tax Year: 2021 Water Source: Public Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 12
A great opportunity for a first time home buyer or someone looking to upgrade to a single family ranch in a desirable area! This 4 bedroom, 2 bath home is located within walking distance to the schools, recreation center, and neighborhood park, including direct access to local green-spaces and trails that will have you enjoying the outdoors right at home! Bordered by convenience on all sides, with several grocery store plazas and shopping centers nearby, this home is the quintessential suburban experience. With close access to highways and local public transportation hubs, this property is a commuters dream. A 10 minute to the Orchard Shopping Center, and 20 minutes from Downtown Denver. This home features a large backyard, 3 car garage and a finished basement.
Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 13
Remarks
1045 W 101st Avenue Northglenn, CO 80260 MLS #9732333 $491,000 4 Beds 2.00 Baths 1,326 Sq. Ft. ($370 / sqft) CLOSED 5/31/22 Year Built 1963 Days on market: 1 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 14
1126 W 102nd Avenue Northglenn, CO 80260 MLS #2385047 $530,000 4 Beds 3.00 Baths 1,386 Sq. Ft. ($382 / sqft) CLOSED 4/6/22 Year Built 1962 Days on market: 4 Details Prop Type: Single Family Residence County: Adams Subdivision: Victoria Heights West Full baths: 3.0 Lot Size (sqft): 9,020 Garages: 1 List date: 3/10/22 Sold date: 4/6/22 Off-market date: 3/14/22 Updated: Apr 6, 2022 10:09 AM List Price: $475,000 Orig list price: $475,000 Taxes: $2,094 School District: Adams 12 5 Star Schl High: Northglenn Middle: Silver Hills Elementary: Hillcrest Features Appliances: Cooktop, Dishwasher, Dryer, Gas Water Heater, Microwave, Oven, Refrigerator, Washer Association Yn: false Basement: Finished, Full Building Area Source: Public Records Concessions: No Construction Materials: Brick, Frame, Vinyl Siding Cooling: Central Air Fireplace Features: Gas, Living Room, Other, Wood Burning Fireplaces Total: 2 Flooring: Carpet, Tile Heating: Forced Air, Radiant Floor Interior Features: Ceiling Fan(s), Eat-in Kitchen, Laminate Counters, Primary Suite Levels: One Listing Terms: Cash, Conventional, FHA, VA Loan Living Area Total: 2452 Lot Features: Sprinklers In Front, Sprinklers In Rear Main Level Bathrooms: 2 Main Level Bedrooms: 3 Parking Features: Concrete Parking Total: 1 Patio And Porch: Covered, Front Porch, Patio Road Frontage Type: Public Road Road Responsibility: Public Maintained Road Road Surface Type: Paved Roof: Composition Security Features: Video Doorbell Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 15
Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260
Virtual Tour: View Water Source: Public
Tax Legal
Remarks
Wanless The Bartic Group Cell:
Christopher 720 837 4299
christopher@thebarticgroup com 16
Tax
Senior Community Yn: false Sewer: Public Sewer Structure Type: House Description: SUB:VICTORIA HEIGHTS WEST BLK:13 LOT:2 Year: 2020 Utilities: Electricity Connected, Natural Gas Connected
With added features you don't expect, this cozy home is waiting for you to make it yours! The main living room includes a large picture window that provides natural light to both the living room and spacious kitchen, where you will find stainless appliances and a pass-through window to the living room! The attached sunroom is both large and cozy, with a gas fireplace and views to the backyard fruit trees! It will likely become your favorite spot in the house! The adjoining backyard patio surrounded by mature landscaping, is a great place to entertain your friends and family! The location is fantastic, with nearby parks and schools, along with shopping and dining, and easy access to I-25!
1126 W 102nd Avenue Northglenn, CO 80260 MLS #2385047 $530,000 4 Beds 3.00 Baths 1,386 Sq. Ft. ($382 / sqft) CLOSED 4/6/22 Year Built 1962 Days on market: 4 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 17
1149 W 102nd Avenue Northglenn, CO 80260 MLS #2420341 $589,000 5 Beds 2.00 Baths 1,352 Sq. Ft. ($436 / sqft) CLOSED 5/3/22 Year Built 1963 Days on market: 15 Details Prop Type: Single Family Residence County: Adams Subdivision: Heftler Homes Hillcrest 2nd Filing Style: Contemporary Full baths: 1.0 3/4 Baths: 1.0 Lot Size (sqft): 9,900 Garages: 1 List date: 3/24/22 Sold date: 5/3/22 Off-market date: 4/8/22 Updated: May 4, 2022 4:38 AM List Price: $589,000 Orig list price: $599,000 Taxes: $2,263 School District: Adams 12 5 Star Schl High: Northglenn Middle: Silver Hills Elementary: Hillcrest Features Association Yn: false Basement: Finished Building Area Source: Public Records Concessions: No Construction Materials: Brick, Frame Cooling: None Heating: Forced Air Levels: One Listing Terms: Cash, Conventional, FHA, VA Loan Living Area Total: 2704 Main Level Bathrooms: 1 Main Level Bedrooms: 3 Parking Total: 1 Patio And Porch: Covered, Deck Roof: Composition Senior Community Yn: false Sewer: Public Sewer Structure Type: House Tax Legal Description: SUB:HEFTLER HOMES HILLCREST 2ND FILING BLK:21 LOT:17 Tax Year: 2020 Water Source: Public Remarks Come check out this 5 bedroom, 2 bath brick ranch with TONS of updates!! Hardwood floors on main floor Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 18
The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 19
1027 West 102nd Avenue, Northglenn, Colorado 80260 Wanless
Comparative Market Analysis
with porcelain tile in the kitchen and bathrooms. The basement includes brand new carpet, a huge family room, bathroom, and two conforming bedrooms. Brand new shaker style kitchen cabinets with beautiful granite countertops and subway tile backsplash. Great sized single car garage with room to add-on down the road. Enjoy dining outside on the large covered deck. Brand new windows, doors, trim, and fully remodeled bathrooms make this house ready to move-in!
Christopher
1149 W 102nd Avenue Northglenn, CO 80260 MLS #2420341 $589,000 5 Beds 2.00 Baths 1,352 Sq. Ft. ($436 / sqft) CLOSED 5/3/22 Year Built 1963 Days on market: 15 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 20
Analysis Christopher Wanless The Bartic Group
Comparable Property Statistics P 1 Pending Listings S 3 Sold Listings LOWEST $475,000 AVERAGE $475,000 HIGH $475,000 AVG PRICE / SQFT $446 AVG DOM 12 LOWEST $491,000 AVERAGE $536,666 HIGH $589,000 AVG PRICE / SQFT $396 AVG DOM 6 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 22
Sold Property Analysis Averages 106.3% Homes sold for an average of 106 3% of their list price. 6 Days on market It took an average of 6 days for a home to sell. Analysis ADDRESS ORIG LIST PRICE SOLD PRICE % OF ORIG LIST PRICE DOM $ PER SQFT 1045 W 101st Avenue $450,000 $491,000 109 11% 1 $370 1126 W 102nd Avenue $475,000 $530,000 111.58% 4 $382 1149 W 102nd Avenue $599,000 $589,000 98 33% 15 $436 Averages $508,000 $536,666 105.64% 6 $396 Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 23
Suggested List Price Analysis of the comparable properties suggests a list price of: $510,000 $478 / sqft Comparable Averages per Status P 1 Pending $475,000 $446 / sqft 12 Days on Market S 3 Sold $536,666 $396 / sqft $536,667 $396 / sqft 6 Days on Market Disclaimer The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data fields such as single-family or condo, number of bedrooms, number of baths, postal codes, and many other factors. Its purpose is to show fair market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market Comparative Market Analysis 1027 West 102nd Avenue, Northglenn, Colorado 80260 Christopher Wanless The Bartic Group Cell: 720 837 4299 christopher@thebarticgroup com 24
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ASKING PRICE PERCENTAGE OF BUYERS +10%+15% Market Value -15%-10% 90%75%60%30%10%
Pricing a home for sale is as much art as science, but there are a few truisms that never change. Fair market value attracts buyers, overpricing never does. The first two weeks of marketing are crucial. The market never lies, but it can change its mind.
Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the home. Values can be impacted by a wide range of reasons but the two largest are location and condition. Generally, fair market value can be determined by comparables - other similar homes that have sold or are currently for sale in the same area.
Sellers often view their homes as special which tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake.
PRICINGINTELLIGENT&TIMING
Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range, and look for the best value in that range.
If you don’t get many showings or offers, you’ve probably overpriced your home, and it’s not comparing well to the competition. Since you can’t change the location, you’ll have to improve the home’s condition or lower the price.
With a sign in the yard, a description in the local Multiple Listing Service, distribution across the internet, open houses, broker’s caravan, ads, and email blasts to your listing agent’s buyers, your home will get the greatest flurry of attention and interest in the first two weeks.
Intelligent pricing isn’t about getting the most for your home – it’s about getting your home sold quickly at fair market value.
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The market can always change its mind and give your home another chance, but by then you’ve lost precious time and perhaps allowed a stigma to cloud your home’s value.
Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh and exciting to buyers and to their agents.
TIME ON MARKET (IN WEEKS) ACTIVITY 1 2 3 4 5 6
Consult with your agent and ask for feedback. Perhaps you can do a little more to spruce up your home’s curb appeal, or perhaps stage the interior to better advantage.
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