One of the most important steps in selling your home is more challenging than you might first anticipate: establishing a listing price. The key is value your home according to the current market valuation. In Stephenville, where we enjoy large ranch homes and farm acreage, the establishment of a market price is a bit more difficult than typical urban and suburban properties. You must not think with your gut but with facts and figures, namely a CMA (comparable market analysis) and a FMV (fair market value).
A CMA compiles statistics on recent, nearby sales of comparable houses or “comps” (houses with a similar number of bedrooms and baths, similar square footage, etc). This is where we come in: as a prove real estate expert in Stephenville and Erath County, we can assist in providing the CMA in order to determine your FMV. And sometimes, in a busy market such as this, we will be able to determine the value quickly due to the increased frequency of sales of similar properties in Stephenville. We will help you conduct the research and set a realistic value.
And one of the key steps in doing so is to familiarize yourself with the competition (other homes sold in the area, what is that status of new construction in Erath County, how are foreclosures and short sales trending). From this, we will help you find ways to make your property stand out, setting up an effective marketing strategy, which may or may not include incentives.
Given that Texas has one of the busiest real estate markets in the country right now, it is imperative to establish a FMV and market your home appropriately so that you are not lost in the rush of home purchases happening right now across Erath County. Give us a call today to get started: it can be the difference between selling your home for market value or watching it languish.