Pricing Your Home in Utah County
Value of Your Home in
Utah County: FREE CMA
When you decide to sell your home, setting your asking price
is one of the most important decisions you will ever make.
Pricing your home correctly is important. The first thing a Utah County Buyer sees is your price. If you
want to realize the most money you can for your home, it's
imperative that you make a good first impression.
This is not as easy as it sounds, and pricing strategy
should not be taken lightly. Pricing too high can be as
costly to a home seller as pricing too low. Taking a look at
what homes in your neighborhood have sold for is only a
small part of the process; this alone is not nearly enough
to help you make the best decision. Team Teasdale Realty
will help you for free if you need help pricing your home in
Utah County.
Team Teasdale Realty will Pull Comparable
Listings and Sales on Your Home
Team Teasdale Realty will Look at every similar home that
was or is listed in the same neighborhood over the
past six months. The list should contain homes
within a mile if possible. Pay attention to
neighborhood dividing lines and physical barriers
such as major streets, freeways or railroads, and do
not compare inventory from other parts of town that
are not similar. Compare similar square footage,
within 10% up or down from the subject property, if
possible. Similar ages. In Utah County we have
pockets of homes that vary in year from one block to
another. Compare apples to apples. Paul Teasdale has
been doing CMA's in Utah County for seller's since 1995.
Paul has personally sold over 1,100
Homes in Utah County. Here is your opportunity to get a professional accurate CMA
on your homes value. Pricing Your Home in Utah County is
important. Hire a professional to help you when pricing your
home.
Sold Comparisons on Utah County Homes
Team Teasdale Realty will pull history or expired and withdrawn
listings to determine whether any were taken off the
market and relisted. If so, add those days on market
to these listing time periods to arrive at an actual
number of days on market. We will compare original
list price to final sales price. Also, we will
compare final sales price to actual sold price to
determine ratios. We will adjust pricing for lot
size variances, configuration and amenities /
upgrades. It is important to get the most similar
comparisons to arrive at true market value. When
pricing your home in Utah County make sure you add all the
amenities. Some appraisers will overlook important aspects
of a home. Pricing your home correctly makes a difference if
your home will sell or not.
Under Contract and Active Real Estate Homes
Under contract or sale pending means a buyer
has placed an offer on a home and the seller has accepted
the offer. The price on the under contract homes are unknown
until the sale closes. A Realtor is not suppose to disclose
the accepted offer price prior to the closing.
Active Real Estate listings are only relevant if they are an
exact match to your home. Keep in mind the market is flooded
with short sale and bank foreclosures. These active homes
are not always good comparisons to your home for many
reasons. Unapproved short sales which are about 25% of the
Utah County Real Estate market are priced by the Realtor. The Realtor hopes the bank will take this price. However,
the bank often does not take the listed asking price on a
short sale. An appraiser will only look at the sold
comparisons of a home in Utah county. An appraiser will not
consider the expired, under contract or active listings will
determining the value for the bank.
Square Foot Cost Comparisons on Utah County Homes
When pricing your home in Utah County remember that after you receive an offer, the buyer's lender will order an
appraisal, so you will want to compare homes of
similar square footage. The appraisal system in Utah
County has recently gone thru a major change.
Unfortunately, this new system plays in the favor of
the inexperienced and or new appraiser. If you get
one of these on your home in Utah County you are in
trouble. I recently had an appraisal on a home in
Springville by the same company within a few weeks
apart. One appraised the home for $535k and the
other $410k. The appraiser that appraised the home
for $410k wouldn't allow an add on for an exterior
six car garage. Ridiculous! If your home is
appraised just off square footage you may have a
problem. This is one of the reasons to hire an
excellent Realtor in this market.
Average square foot cost does not mean you can
multiple your square footage by that number unless
your home is average sized. The price per square
foot rises as the size decreases and it decreases as
the size increases, meaning larger homes have a
smaller square foot cost and smaller homes have a
larger square foot cost. Team Teasdale would like to
take a look at your home and give you a free, no
obligation evaluation of your home. Don’t rely on
past appraisals or inexperienced Realtors here in
Utah County. Let our experience give you an honest
evaluation of your home. Many “rookie Realtors”
either under or overprice homes. Let our experience
help you determine the true value. If you need help
pricing your home in Utah County contact Paul Teasdale for a
FREE CMA. Click the "What is Your Home Worth" banner at the
top of the page to get your quick free evaluation. If you
need help pricing your home in Utah County contact Paul
Teasdale.
Making a Counter Offer on a Home
