Why do I need a market analysis?  

Every Market and Every Neighborhood offers a different set of Amenities, pros and cons, values etc.,  than the other. If all houses and neighborhoods were exactly the same there would be no need for anyone to even consider where to set a price for their home.  You could buy one price fits all tags and slap it on the side of your house and VOILA!!! As you know, Spokane is diverse and has many neighborhoods.

When we buy a car, we have a base price and then we have the upgraded price. The base price is basically the no frills, no power seats, AM/FM radio, without any of the cool new modern things like auto start ignitions, heated seats, smartphone capability so you can stream your iTunes. Spokane Homes are a lot like this, they are all special and offer their own upgrades or base pricing options.

Market Value is what a buyer is willing to pay for your home. (this is important)

Assessed Value is what the tax man says it’s worth.

Appraised Value is what the bank values a home for but you should think….. lending purposes only. Their value is based on calculated risk.

 

When you contact a  Spokane Realtor to give you a market analysis or CMA   you are asking them to look at your Spokane home as a whole and determine how it stacks up against other Spokane homes in the area and even beyond the area sometimes if comparable sold homes are unavailable in your neighborhood they sometimes have to look beyond your neighborhood up to a certain amount of miles.

They compare what has recently sold in your area in terms of similar home style, square footage, amenities and more. It’s tricky, because of the fact that if nothing has sold in 6 months in your neighborhood then a whole different process has to be utilized in order to configure what the best price to list a home of said size and stature might actually sell for in a given area. In essence, it’s not a one size fits all scenario!

I like to recommend that you contact three Spokane Realtors from different firms and listen to what each of them has to say about how they came to a price point on what they think your home should be listed for. Ultimately, the seller sets the list price, but remember earlier when I cautioned you that market price is what a Spokane buyer is willing to pay? Well, where you start the price at when you launch it onto the market is a big deal. Price it too high and you will sit and languish and not get any showings, or possibly get showings and no one making an offer. Price it too low and you just walked away from potentially thousands of dollars.

A market analysis is a free service provided by Spokane Realtors for you to not have to guess at pricing. I suggest you take advantage of that fully and let the professionals tell you what is happening in your Spokane Area market.

I personally make it quite easy. I talk to you via text, phone, email, or in person about basic details, I set an appointment to take a look at the home (quick walk through to get an idea of the amenities and condition) Next step, I set an appointment with you to sit down and discuss the market findings, suggested list price and anything that you could do to increase the probability of a sale. Sometimes, I recommend paint, or other useful staging ideas or home improvement suggestions in order to help you have a successful sale.  What does all this cost you? Nothing, I merely ask that you listen to me offer my experience and input on how I can sell your Spokane area home and for how much and then you decide if I am a good fit for you.

Homes in Spokane and in small communities around Spokane, are selling quickly right now as we have a low inventory. I would love to share my marketing plan with you and make your next move a fabulous experience.

Call me! Let Lara McHenry your Spokane House Pro show you how to get the job done!