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MINT Real Estate GroupMINT Real Estate Group

Louisville Real Estate

502.365.9833

info@mintky.com

13115 Aiken Road Louisville, KY 40223

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PRICING YOUR HOME

Pricing your home is both an art and a science. Achieving the optimal price is the result of both objective research into comparable properties and a gut feeling about your property and the current market.

The right price should:

  • Attract buyers
  • Allow you to earn the most money possible
  • Help you sell as quickly as possible

The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. And it’s important to remember that, although the price is set by you, the value of the home is determined by the buyer. Try to avoid allowing your enthusiasm to impact your better judgment – overpricing is a common mistake that can cost you in the end.

The Importance of Proper Pricing

  • Faster sale and less inconvenience
  • Exposure to more buyers
  • Increases realtor response
  • Generates more advertising/sign calls
  • Attracts higher offers
  • Means more money to seller
  • Avoids being “shopworn”

What really matters is how your home stacks up against the others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing.

Common Reasons for Overpricing

  • Over-improvement
  • Need
  • Purchasing in higher-priced area
  • Original purchase price too high
  • Lack of factual data
  • Bargaining room
  • Move isn’t necessary
  • Assessed value
  • Emotional attachment
  • Opinion of family and neighbors

Dangers of Overpricing

  • Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical.
  • Buyers who have seen most available homes in their price range are waiting for the “right house” to come on the market. That’s why if a house is priced right, it will sell quickly. The buyers are there waiting for it.
  • Don’t start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have alreadywaned.
  • A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time.
  • Even if your home is nicer than other homes in the same area, your house won’t be picked for viewing if you set the price too high.
  • Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.
  • Attracting the wrong buyers.
  • Fewer potentially qualified buyers will respond.
  • You might help sell similar homes that are priced low.
  • You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.

The Role of a Real Estate Agent in Pricing

  • Provide you with a comparative market analysis (CMA), a comparison of the prices of recently sold homes that are similar in terms of location, style, and amenities. A CMAis performed by comparing previously sold homes in the area, and currently active homes to know your competition.
  • There is no “exact price” for real estate
  • We don’t tell you what we think your home is “worth”.
  • The market determines value…together we determine the price.
  • You determine the price based on the factors you control:

– Marketing time
– Financing alternatives provided
– Condition
– Exposure method

  • Keep in touch with market trends and keep up to date with market activity of comparable homes.
  • Estimate your net proceeds.
  • Help to determine offering incentives.

An agent has NO control over the market, only the marketing plan. Never select an agent based on price.

MINT Listings

Pending
Residential$347,000

9306 Norton Commons Blvd 202

9306 Norton Commons Blvd 202
Prospect, Kentucky 40059

  • 2Beds
  • 2Baths
  • 1,641Sq ft
View Listing
Pending
Residential$169,900

10403 Grafton Hall Rd

10403 Grafton Hall Rd
Louisville, Kentucky 40272

  • 3Beds
  • 1Baths
  • 1,318Sq ft
View Listing
Pending
Residential$229,900

1407 Cloverhills Dr

1407 Cloverhills Dr
Louisville, Kentucky 40216

  • 4Beds
  • 2Baths
  • 2,419Sq ft
View Listing
Active
Residential$479,000

521 Oxford Pl

521 Oxford Pl
Louisville, Kentucky 40207

  • 3Beds
  • 2Baths
  • 2,426Sq ft
View Listing
Closed
Residential$204,900

5213 Skylight Dr

5213 Skylight Dr
Louisville, Kentucky 40258

  • 3Beds
  • 3Baths
  • 2,396Sq ft
View Listing
Pending
Residential$338,000

4415 Saratoga Hill Rd

4415 Saratoga Hill Rd
Louisville, Kentucky 40299

  • 3Beds
  • 3Baths
  • 2,655Sq ft
View Listing
Pending
Residential$485,000

12515 Valley Pine Dr

12515 Valley Pine Dr
Louisville, Kentucky 40299

  • 4Beds
  • 4Baths
  • 4,296Sq ft
View Listing
Active
Residential$925,000

12910 Urton Ln

12910 Urton Ln
Louisville, Kentucky 40243

  • 4Beds
  • 5Baths
  • 3,433Sq ft
View Listing
Closed
Residential$205,000

3423 Pinnacle Gardens Dr

3423 Pinnacle Gardens Dr
Louisville, Kentucky 40245

  • 2Beds
  • 2Baths
  • 1,770Sq ft
View Listing
Closed
Residential$269,900

5422 Galaxie Dr

5422 Galaxie Dr
Louisville, Kentucky 40258

  • 3Beds
  • 3Baths
  • 2,958Sq ft
View Listing
Active
Residential$289,900

4203 Wine Cellar Ct

4203 Wine Cellar Ct
Louisville, Kentucky 40272

  • 4Beds
  • 3Baths
  • 2,002Sq ft
View Listing
Closed
Residential$299,000

3800 Debsom Way

3800 Debsom Way
Louisville, Kentucky 40241

  • 4Beds
  • 3Baths
  • 2,417Sq ft
View Listing
Active Under Contract
Residential$185,000

3123 Michael Dr

3123 Michael Dr
Louisville, Kentucky 40220

  • 3Beds
  • 2Baths
  • 1,297Sq ft
View Listing
Pending
Lots & Land$87,500

13510 Riggs Lake Ln

13510 Riggs Lake Ln
Louisville, Kentucky 40299

  • Beds
  • 0Baths
  • Sq ft
View Listing
Active Under Contract
Residential$90,000

205 Alreva Rd

205 Alreva Rd
Louisville, Kentucky 40216

  • 3Beds
  • 1Baths
  • 1,372Sq ft
View Listing
Active Under Contract
Residential$139,900

4721 S 6th St

4721 S 6th St
Louisville, Kentucky 40214

  • 3Beds
  • 2Baths
  • 1,919Sq ft
View Listing
Closed
Residential$162,500

2602 Aristocrat Pl 203

2602 Aristocrat Pl 203
Louisville, Kentucky 40299

  • 2Beds
  • 2Baths
  • 1,379Sq ft
View Listing
Active Under Contract
Residential$169,000

425 E Brandeis Ave

425 E Brandeis Ave
Louisville, Kentucky 40217

  • 2Beds
  • 1Baths
  • 918Sq ft
View Listing
Closed
Residential$470,000

1007 Glory View Dr

1007 Glory View Dr
Crestwood, Kentucky 40014

  • 4Beds
  • 3Baths
  • 2,344Sq ft
View Listing
Pending
Residential$625,000

31 Stonebridge Rd

31 Stonebridge Rd
Louisville, Kentucky 40207

  • 4Beds
  • 3Baths
  • 3,472Sq ft
View Listing
Closed
Residential$175,000

111 Pin Oak Cir

111 Pin Oak Cir
Mt Washington, Kentucky 40047

  • 3Beds
  • 1Baths
  • 1,100Sq ft
View Listing
Closed
Residential$214,900

3900 Baymeadow Dr

3900 Baymeadow Dr
Louisville, Kentucky 40258

  • 3Beds
  • 3Baths
  • 1,783Sq ft
View Listing
Closed
Residential$255,000

3301 Behr Ct

3301 Behr Ct
Louisville, Kentucky 40220

  • 3Beds
  • 3Baths
  • 2,963Sq ft
View Listing
Closed
Residential$259,000

222 Cornell Pl

222 Cornell Pl
Louisville, Kentucky 40207

  • 3Beds
  • 2Baths
  • 1,380Sq ft
View Listing
Active
Residential$89,900

3509 Lodge Ln 117

3509 Lodge Ln 117
Louisville, Kentucky 40218

  • 2Beds
  • 2Baths
  • 875Sq ft
View Listing
Active Under Contract
Residential$134,900

1231 Hull St

1231 Hull St
Louisville, Kentucky 40204

  • 1Beds
  • 1Baths
  • 720Sq ft
View Listing
Closed
Residential$214,999

441 Justin Trail

441 Justin Trail
Mt Washington, Kentucky 40047

  • 3Beds
  • 2Baths
  • 1,600Sq ft
View Listing
Closed
Residential$235,000

2204 Cottage Ln

2204 Cottage Ln
Louisville, Kentucky 40216

  • 3Beds
  • 3Baths
  • 2,981Sq ft
View Listing
Closed
Residential$345,000

103 Forest Springs Dr

103 Forest Springs Dr
Coxs Creek, Kentucky 40013

  • 3Beds
  • 3Baths
  • 3,057Sq ft
View Listing
Closed
Residential$285,900

4019 Saratoga Woods Dr

4019 Saratoga Woods Dr
Louisville, Kentucky 40299

  • 3Beds
  • 2Baths
  • 1,705Sq ft
View Listing

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13115 Aiken Road Louisville, KY 40223

info@mintky.com
502.365.9833
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