Setting a reasonable initial asking price for a luxury home in Beverly Hills, San Francisco or anywhere else in California sometimes can be difficult. In fact, if you fail to price your Golden State luxury residence appropriately, it may be tough to stir up interest in your home.
Fortunately, there are many things you can do to establish a competitive price for your California luxury home from day one of the property selling journey. These include:
1. Conduct a Home Appraisal
A home appraisal requires the examination of your California luxury home by a property expert. In addition, the property expert will review assorted Golden State luxury housing market data. And with insights into your home and the local housing sector, the property expert can provide you with an accurate valuation for your residence.
Thanks to an appraisal, you can get a good idea about the current value of your luxury home in Los Angeles, Malibu or any other California city or town. You also can use an appraisal report's property valuation to determine exactly how to price your Golden State luxury residence.
2. Analyze the Local Housing Market
Evaluate the luxury housing market in your California city or town. This will help you see how your Golden State luxury residence compares to similar houses.
Furthermore, you may want to find out how long recently sold luxury houses in your California city or town were available before they were purchased. This can help you determine if a buyer's or seller's market is in place. Perhaps most important, you can price your Golden State luxury residence competitively based on the current housing sector's conditions.
3. Collaborate with a Real Estate Agent
Let's face it – pricing a California luxury home can be challenging for first-time and experienced sellers alike. Luckily, real estate agents are available across the Golden State, and these housing market professionals can take the guesswork out of establishing a reasonable price for any residence.
A real estate agent initially will learn about you and your California luxury home selling goals. Next, he or she will craft a plan to help you accomplish your desired Golden State luxury home selling results. If you want to sell a luxury home near Disneyland, for example, a real estate agent will create a strategy so you can promote your house to buyers who want to reside in the Anaheim area. Or, if you want to sell your luxury house in San Jose as quickly as possible, a real estate agent will do whatever it takes to accelerate the home selling cycle.
Of course, a real estate agent will offer tips and recommendations to help you get the best price for your California luxury home as well. If you have any concerns about establishing a reasonable initial asking price for your Golden State luxury house, a real estate agent is ready to respond to them, too.
Use the aforementioned tips, and you can set the optimal initial asking price for your California luxury residence.
Terese Ferrara is a long-time resident of the Bay Area and has been a partner with The Goss Real Estate Group for many years. She and her husband raised their two daughters in San Jose, where she successfully continues to build her real estate career.
After earning a bachelor’s degree from San Jose State University, she went on to teach in the San Jose Unified School District for 9 years. Transitioning to real estate was a logical choice, utilizing her patient demeanor to educate all levels of buyers and sellers. Knowledge and experience demonstrate her vested interest in delivering the highest level of care and professionalism to every client. She consistently strives to exceed her client’s expectations throughout the entire real estate transaction and remains a trusted advisor long after each close.
As a board member on KW Bay Area Estates’ Associate Leadership Council (ALC), she aids in support of culture and professional development strategies for over 180 associates. Terese is also a Director for the Santa Clara County Association of Realtors Foundation, which supports community service initiatives in Silicon Valley.
Terese is the consummate real estate professional dedicated to providing unparalleled service to her clients through ongoing training and education, keeping her on top of the dynamic market and latest real estate trends. Her high-touch approach coupled with honesty and integrity support her commitment to her client’s real estate needs.
