Valley Real Estate

Sold Properties

Solds - properties that have sold and ownership has officially transferred.

These sales should be arm's length, recent transactions that have closed within the last 6 months to no more than a year. This collection of properties will be the most reliable data for determining the probable sale price of a similar property in the current market.

The best comparable sold properties are those that match the subject in every aspect, however, since each piece of real estate is unique, several comparables are usually required to determine an accurate value of a property. The HomeTeam will make corrections (adjustments) to each comparable, adding or subtracting value for missing amenities, property condition, and improvements. This is the type of subjective analysis that only a REALTOR can do.

Active Listings

Active listings – properties currently for sale. For sellers these will be your competition.

Selecting a list price that is more attractive to a buyer than the competition is more than half the battle in the marketing of your home. If possible, visit open houses for some of these listings to see how your home compares. However, beware "for sale by owners", whose price may more whimsy than realistic.

Pending Listings

Pending sales – listings that have sold but not yet closed.

Be careful here as well. Since the final sale price will not yet be known, don't always believe the wild speculation of friends and neighbors. The actual sale price may be quite a bit lower. Trust the HomeTeam who will weigh in all the factors, Remember, a comparative value analysis is as much art as science.

Expired Listings

Expired listings – properties that did not sell during the listing period.

A study of these homes may often be very revealing when all else is taken into consideration. Knowing why a property did not sell can be invaluable. If these listings were priced above comparable homes that did sell, the HomeTeam can pin-point pricing that buyers will shun in the market place.

Property Stats

Many factors go into determining which properties can be considered comparables:

• geographic area lot size
• assessed value
• features of the parcel, including view, terrain, and access
• negative external influences (desirability of location)
• size of the parcel
• characteristics of previous sales of the property
• type and use of improvements (structures)
• square footage of the improvements
• features of the improvements, including quality and condition
• amenities
• age

In the end we'll give you a report which specifies a price range, upper and lower, within which your home should sell.  We'll also include a discussion of the current Absorption Rate which will give you a picture of the current dynamics of the market place and allow you to estimate how quickly your home will sell.

See also:

• Why Use The HomeTeam
• How to Choose A REALTOR