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PRICING YOUR HOME/WRITING AN AD
Pricing Your Home

We offer the following recommended guidelines to assist you in ascertaining an accurate sales price. Accurate pricing is the most important task when selling your home either "for sale by owner" OR with a realtor.

If you are not satisfied with your own ability to determine a fair market price, hire an appraiser. This is the most accurate way of pricing and our recommendation. ($225-$350) What better sales tool to show a prospective buyer who makes a low offer than a professionally prepared appraisal?

Another option for determining your sales price is to ask 4-5 realtors active in your area for their recommendations. This is commonly referred to as a "comparitive market analysis". Compare the realtors' suggestions and choose a price wisely. Be advised that realtors are not certified appraisers and their experience in pricing homes can differ dramatically. They will usually give you a range of values rather than a specific price. For instance, a $145,000 home can receive market analyses ranging from $140,000 to $160,000. So, be careful if choosing just one market analysis as your determining factor. You can also choose to price your home on your own. If this is the option you select, we offer the following suggestions:
 
Check the prices of "comparable properties" in your area.
Use the Register of Deeds office in your counties courthouse to find out what other homes have sold for in your neighborhood. You will need to know which homes have sold in your neighborhood. In Virginia Beach this can be done online at www.VBgov.com
Check advertising to find current market prices for similar homes in your area.
Go into homes for sale in your neighborhood similar to yours for comparison.
What is the size and condition of your property?
What is the pace of the market?
What is the availability and type of financing?
What is your motivation to sell?
How long do you have to sell your home? If you have a lot of time, price your home higher, yet if you have to sell quickly, you will want to have a lower price.
Be sure you don't overprice. This could lead to stagnation on the market.
Be aware of the minimum price you are willing to accept.
 
Writing an Effective Ad
The following items should be read and studied carefully. Much care should be taken in writing an ad so that you may attract the largest possible number of potential buyers. If you are advertising on VAFSBO.COM, remember, you can change your ad at any time. We recommend the following guidelines to assist you in writing your ad text:
 
Look at advertisements for homes to learn how other sellers write their ads. A good resource is the current ads on VAFSBO.COM. (Always look at the sold homes)
List the 5 most positive things about your home; then use them.
Develop an attention-getting headline.
Be aware of your homes' vital statistics other than number of bedrooms and baths: such as total square footage, tax value, schools, churches, bus stops, convenience to interstates, bases and other community features.
List several of the most desirable features of your home. Don't forget to include features such as: family room (FR), rec. room, dining room (DR), garage or carport, fireplaces (FP's), decks, fencing, storage building/s, landscaping, trees, stream, etc. Since many buyers purchase homes for emotional reasons, such descriptions as "cozy" fireplace, "sunny" deck, or "sparkling" stream are very effective.
Emphasize any features or desirable financing that your home may have.
Mention any Open House that you hold including the hours the home will be open. Normal Open House time periods are Sunday 1-4pm. This affords buyers the opportunity to attend church or any other weekend function during the morning, have lunch and then go to your open house.
Specify the number of bedrooms and baths early in the ad.
Disclose the homes approximate location (neighborhood).
Consider a theme of urgency in the ad - such as "transfer forces sale", or "must sell by" to attract more interest. Only use accurate and honest information.
Home prices are usually advertised with either $500 or $900 at the end (ie. $149,900 or $215,500) Property that is priced at $199,900 will look $10,000 cheaper than one marketed at $200,000.
Don't use confusing abbreviations just to save space. It is annoying and difficult to read.
When describing your home don't jump from inside to out and back again.
 
     
     
 
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