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Pricing Your Home using a Comparable Market Analysis

Pricing Your Home

Before listing your home for sale, we need to determine an accurate market value to assist in pricing your home. To accomplish that, I’ll prepare a thorough Comparable Market Analysis (CMA), which will help us determine a likely range that you home should sell for.

In the analysis, we’ll look at homes similar to yours, which have:

  • Recently sold
  • Are currently under contract
  • Are currently active on the market

This will help determine an appropriate price to list your house for against the current competition, considering (at minimum) its size, age, location, features, and the current market activity.

I’ll give you my objective perspective and advice as to how much you should list your house for. While I hope you take my advice, ultimately you decide on the list price for your house.

However, buyers in the market ultimately determine the market value of your home. It is only worth what a ready, willing, and able buyer is willing to pay. That should be in line with the value we see in the CMA, as long as there are no major changes within the market, and you make the right decisions on pricing your home from the start.

Over pricing your home

Many homeowners tend to overprice their house when they first hit the market because:

  • They believe they should have “wiggle room” to be able to negotiate to the price they want to get.
  • They simply hope that someone will pay more than the market data indicates.
  • They price it based upon what they “need to get” in order to sell their house.
  • They add every dollar of improvements they have made to the house over the years onto the value.

When a seller overprices their home, for any of these reasons, they usually lose buyer interest by being out of line with the market. This causes their home to sit, accrue days on market, and cause buyers to conclude there’s something wrong with the house, it’s overpriced, or both. Stale listings do not sell for asking price, and the longer the home sits on the market, buyers will be expecting price reductions or submit low offers.

So, before we even go over the market analysis, my best advice is to listen to the data and price your home accordingly. That’ll end up saving you a lot of time, money, and aggravation.

Additional Resources:

Working With A Buyer's Agent

Selling with a Realtor®

Your home is your biggest asset. When it comes time to sell, you want to get it right.
Read more.

Getting Ready to Sell

Getting Ready to Sell

Before opening your door to buyers, consider these tips for casting your home in its best light.
Read more.

When staging your home, keep it bright and free of clutter.

Staging Your Home

Staging enables buyers to envision themselves living in the home. ‘
Read more.

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TESTIMONIALS

"Russ Fortuno is our trusted choice for real estate. After selling our house, we hoped to find a new home in Green Valley. Russ came highly recommended to us. It was a very stressful time, as we felt time-crunched, but we rested more easily, with Russ on our side. His experience in this market, knowledge of the area and insight into what we needed and wanted in our future home really gained our trust. It was also helpful that he has a calming demeanor! We found the perfect home for us, thanks to Russ. What a blessing!"
- Mike and Linda S., Quail Creek
"Russ had it “right” from our first meeting to evaluate the market and the sale of our home. His expert professionalism guided the entire process. Clear and frequent communication was very helpful. He is low key, yet very present when needed. We could not have had a better experience with a different Realtor!"
- Jack M., Quail Creek
"Best in the business! We have used Russ to purchase our winter home in Arizona and soon realized we wanted to upgrade to a larger full time forever home! Alas, Russ worked his magic and found our dream home. Russ is truly one of the best agents we have ever worked with. He is knows this market and we never felt pressure to make a purchase on a house that was not quite what we were looking for. I can’t recommend him highly enough."
- Pam H., Quail Creek
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and Quail Creek resident. Whether you’re buying or selling a home in Quail Creek, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

This site is not affiliated with Robson Communities or the Quail Creek Country Club Property Owners Association.
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