18 April 2013

Selling Your Tooele UT House in This Market

Selling your Tooele UT house in this market is all about pricing. It feels like the market has bottomed out and home values are beginning to edge back up.

Take a look at these price changes of some Tooele homes for sale last week and compare to recent weeks when the majority of price changes were reductions.

Pricing is directly related to listing time frames and really whether a listing may sell at all. It is especially critical when there is increased competition. The following is information on marketing Tooele properties to sell in a slow market.

Tooele price changes last week in Stansbury Park

Tooele City price changes last week

Tooele County price changes in Grantsville Utah

Understand the Real Estate Market

Every real estate market varies. When you hear statistics on the news, they almost always reference national averages. Your particular town may be very different. In fact if you look at the examples listed above, you can see that communities right next door to each other can feel price changes sooner. IE: Most of the new homes for sale in Grantsville have recent price increases.

A local real estate professional can prepare a CMA on your home which analyzes recent sales of comparable real estate and produces a reasonable price range in which your property may sell. This value may be different seasonally, so avoid relying on past figures. For a quick check on property value when selling your Tooele UT house in this market use our "what's my house worth" tool on our website.

Remain Realistic

When reviewing the market analysis, remember that there is a high and low end. Where your home falls within that range depends on different factors and your target timeline. As a seller, it is typical to feel a sense of attachment to your home and the work that you have put in. Unfortunately, not all home buyers will assign the same value to different features and upgrades. Anticipate that you may not recoup the full amount spent on repairs. Additionally, home prices may be affected by foreclosures in the area, which are typically listed at deep discounts but are still used as comparable properties.

Remember when selling your Tooele UT house in this market, that market value is defined as the amount that a potential buyer is willing to pay for a home at the current time. It may not necessarily be close to your expectations or be close to the price at which you purchased the home.

Marketing Tooele Properties To Sell In A Slow Market

Marketing a property above market value can result in longer market times. If the market condition goes down during that time, the listing may ultimately sell for much less than it could have if positioned accurately from the beginning. Furthermore, home buyers usually have a negative feelings about homes with extended market times. This can be difficult to overcome even if a home reduces in price at a later time. Pricing too high can do more damage than good. To find out how we would price and sell your Tooele home check out how we sell your home in Tooele UT.

Some Extra Advice for Homeowners

If the market value of your home is far too different than what you are willing to accept, it may be best to watch the price fluctuations and wait for the market to increase rather than overpricing and letting it sit for months or even years. If you have no choice but to sell and need to do so in a particular window of time, choosing a price reflective of the real estate market and competitive with other homes will be imperative to accomplishing your target date. Time is money and overpricing can be more costly than you expect.

 

If you are selling your Tooele UT house in this market and want someone that understands house values and the worth of a Tooele home call Berna @ 435-840-5029.

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