Selling Your Home? Do A Market Analysis First
February 4, 2010 by admin
Filed under Featured, Investment Tips
If you are in a hurry to sell your home, either to generate money to buy another home in a preferred new location, or to invest your money in real estate business, it is a good way to do a market analysis.
Market analysis is a method for analyzing your target buyers’ preferences, especially on how much they are willing to pay for your property.
Imeage from www.ehow.com
To do this, you review the market for your property, e.g. who are your potential buyers, the prices of houses being sold in the market, and the number of houses up for sale.
In doing a market analysis, you hope to have a clear data about the market conditions, the willingness of buyers to buy your home at a given price versus the prices of other homes, the neighborhood, conditions of the property (age of the home and maintenance) and the features (no. of rooms, toilet and bath, floor area, land area).
Specifically, in market analysis, you do the following to come up with a basic data to price your property fairly, with the right buyers in mind:
Compare home designs, e.g. your home vs. other homes for sale.
Compare size of home, e.g. floor area and lot area vs. that of the other houses for sale.
Compare the selling price, e.g. price of your home vs. that of other houses in the neighborhood or locality.
Doing a market analysis will guide you to set the price of your house fairly and sell it to the right buyers faster.
This is great information. I’m probably going to be selling a house soon so I will be back to visit a lot.
I had no idea I was missed. Thanks for continuing to stop by while my blog was inactive. I might have started sooner if I’d known
Good advice! Turning back to 2007 when property values were higher many could simply list at any price and they would get offers over asking. We look at home value index numbers like Sell My Home or Zillow and it was no wonder experts were being set aside. But now that the market has changed in the states, it becomes important to get a market analysis first, to realistically price your home.