Pricing your home properly is one of the most critical parts of the entire home selling process.

Right now we are in the middle of a seller’s market. For the past couple of years inventory has been low while demand has been high.
Home prices have been steadily rising, but what does that actually mean when you’re ready to sell your home?
Here’s some facts to consider when pricing your home in any market:

Will it Appraise? Pricing Your Home

It doesn’t really matter what a buyer is willing to pay for your home.
Wait, did I just say that?

Yes; and it’s 100% true. A buyer and seller can shake hands and agree on a price, but unless it’s a cash deal the appraisal value will be the deciding factor —not the buyer’s willingness. The lender relies on the appraisal to determine the home’s true value, and how much they are willing to lend the buyer.

Using an experienced, full time Realtor® is key to correct pricing. As a Realtor® who specializes in Lee County, Florida properties, I can pull neighborhood comps, calculate upgrades (pool, fenced in yard, recent renovations) and help my seller price their home for maximum financial benefit, while protecting them against the loss of a deal due to incorrect pricing.

As a point of clarity, appraisals don’t “come in low”; they come in below contract price. Appraisers do not place a stamp of approval on contracts. They follow mandated guidelines. This is why it’s so vitally important to work with an experienced real estate agent.
According to the National Association of Realtors® recent report (April 2022), homes appraising significantly lower than expected is a common obstacle in today’s seller’s market.

Remember, regardless of the climate, the longer a property sits on the market, the more potential red flags pop up in a buyer’s mind. The house will likely still sell, but possibly at a lower price and no one wants to leave money on the table.