your home can be a problem. Let’s review
some of the most common mistakes made in arriving at a list price, and my
There is a listing down the street that you view as inferior to your
home and therefore your property should be listed for a higher price.
Comment: Closed and pending sales
are the best indicators of value, properties can be listed at any price.
The price per square foot of sales
from your neighborhood, when applied to your square footage indicates the
Comment: Resort areas like Big
Bear, are characterized by individually constructed homes over a long period of
time. You will typically have large and
small, old and new, custom and basic quality homes all in the same block. These wide variations make price per sq ft
Property owners often remember the
highest value a Realtor or Appraiser has ever quoted them. Sensational news stories about “increasing
values” often influence sellers beyond reason.
Comment: List prices should be set
after careful review of recent sales in the neighborhood with similar, age,
living area, bedroom/bath count, etc.
Seller has X amount of dollars tied up in the
property, or needs a certain amount to move.
Comment: The market doesn’t care
about your personal finances, it only cares about paying a reasonable price for
the property. List your property for
real buyers rather than the mythical buyer with a “bag of cash”.
My house is worth X dollars because Zillow
says so, even though they state that their Zestimate is only a starting place.
Comment: Zillow uses a computer
program to estimate value based on public record information. In Big Bear, public records are often
incorrect, and Zillow does not consider remodeling, updates, quality or appeal. Pricing a home properly is an art and science
and is not accomplished with an online valuation tool.
If you want an accurate value of your
home, always consult with a local real estate professional or competent appraiser.