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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
$259,000

9705 Waterbrook Ct

9705 Waterbrook Ct
Louisville, Kentucky 40228

  • 5Beds
  • 4Baths
  • 3,178Sq ft
View Listing
Active Under Contract
$120,000

8296 Virginia Rd

8296 Virginia Rd
Louisville, Kentucky 40258

  • 3Beds
  • 1Baths
  • 1,048Sq ft
View Listing
Active Under Contract
$145,000

267 Lynnwood Dr

267 Lynnwood Dr
Mt Washington, Kentucky 40047

  • 3Beds
  • 1Baths
  • 1,100Sq ft
View Listing
Pending
$224,000

7823 Lariat Rd

7823 Lariat Rd
Louisville, Kentucky 40219

  • 4Beds
  • 3Baths
  • 2,304Sq ft
View Listing
Active
$150,000

407 Newton St

407 Newton St
Midway, Kentucky 40347

  • 3Beds
  • 1Baths
  • 1,413Sq ft
View Listing
Active Under Contract
$149,900

6403 Cameron Ln 312

6403 Cameron Ln 312
Crestwood, Kentucky 40014

  • 2Beds
  • 2Baths
  • 1,350Sq ft
View Listing
Active Under Contract
$328,000

13521 Pleasant Glen Ct

13521 Pleasant Glen Ct
Louisville, Kentucky 40299

  • 4Beds
  • 3Baths
  • 3,404Sq ft
View Listing
Pending
$225,000

1833 Sherwood Ave

1833 Sherwood Ave
Louisville, Kentucky 40205

  • Beds
  • 0Baths
  • 2,392Sq ft
View Listing
Pending
$235,000

401 Cherry Point Dr

401 Cherry Point Dr
Louisville, Kentucky 40243

  • 4Beds
  • 3Baths
  • 1,841Sq ft
View Listing
Pending
$349,900

1912 Grand Ridge Rd

1912 Grand Ridge Rd
Louisville, Kentucky 40214

  • 4Beds
  • 4Baths
  • 4,007Sq ft
View Listing
Active Under Contract
$24,900

208 Lee Nor Mack St

208 Lee Nor Mack St
Shelbyville, Kentucky 40065

  • 2Beds
  • 1Baths
  • 0Sq ft
View Listing
Active
$44,900

512 7th St

512 7th St
Shelbyville, Kentucky 40065

  • 2Beds
  • 1Baths
  • Sq ft
View Listing
Active Under Contract
$179,900

1207 Rudgate Cove

1207 Rudgate Cove
Louisville, Kentucky 40214

  • 3Beds
  • 2Baths
  • 1,980Sq ft
View Listing
Sold
$189,900

8108 Keira Ridge Ct

8108 Keira Ridge Ct
Louisville, Kentucky 40291

  • 3Beds
  • 2Baths
  • 1,628Sq ft
View Listing
Active
$50,000

1477 S First St

1477 S First St
Louisville, Kentucky 40208

  • Beds
  • 0Baths
  • Sq ft
View Listing
Active
$1,600

2602 Aristocrat Pl 203

2602 Aristocrat Pl 203
Louisville, Kentucky 40299

  • 2Beds
  • 2Baths
  • 1,379Sq ft
View Listing
Pending
$147,900

696 Main St

696 Main St
Pleasureville, Kentucky 40057

  • 3Beds
  • 1Baths
  • 1,168Sq ft
View Listing
Sold
$159,000

11520 Bellewood Garden Ct

11520 Bellewood Garden Ct
Louisville, Kentucky 40223

  • 2Beds
  • 3Baths
  • 1,001Sq ft
View Listing
Sold
$174,900

5202 Plume Dr

5202 Plume Dr
Louisville, Kentucky 40258

  • 3Beds
  • 2Baths
  • 1,346Sq ft
View Listing
Pending
$214,000

216 Saint Andrews Way

216 Saint Andrews Way
Shepherdsville, Kentucky 40165

  • 3Beds
  • 2Baths
  • 1,500Sq ft
View Listing
Pending
$354,900

1912 Grand Ridge Rd

1912 Grand Ridge Rd
Louisville, Kentucky 40214

  • 4Beds
  • 4Baths
  • 4,007Sq ft
View Listing
Active
$119,900

1601 Loney Ln

1601 Loney Ln
Louisville, Kentucky 40216

  • 4Beds
  • 1Baths
  • 1,674Sq ft
View Listing
Sold
$169,000

1511 Anna Ln

1511 Anna Ln
Louisville, Kentucky 40216

  • 3Beds
  • 2Baths
  • 1,863Sq ft
View Listing
Active
$249,900

8705 Rambo Ct

8705 Rambo Ct
Louisville, Kentucky 40228

  • 3Beds
  • 3Baths
  • 2,458Sq ft
View Listing
Active
$24,900

Lot 515 Hog Knob

Lot 515 Hog Knob
Falls Of Rough, Kentucky 40119

  • Beds
  • 0Baths
  • Sq ft
View Listing
Sold
$119,000

1853 Heaton Rd

1853 Heaton Rd
Louisville, Kentucky 40216

  • 3Beds
  • 1Baths
  • 1,374Sq ft
View Listing
Pending
$114,500

5418 Fruitwood Dr

5418 Fruitwood Dr
Louisville, Kentucky 40272

  • 3Beds
  • 2Baths
  • 1,530Sq ft
View Listing
Sold
$144,500

7607 Terry Rd

7607 Terry Rd
Louisville, Kentucky 40258

  • 3Beds
  • 1Baths
  • 1,600Sq ft
View Listing
Sold
$174,500

4425 Pinnacle View Pl

4425 Pinnacle View Pl
Louisville, Kentucky 40272

  • 2Beds
  • 2Baths
  • 1,317Sq ft
View Listing
Pending
$184,900

11006 Saint Rene Rd

11006 Saint Rene Rd
Louisville, Kentucky 40299

  • 3Beds
  • 2Baths
  • 1,736Sq ft
View Listing

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13115 Aiken Road Louisville, KY 40223

info@mintky.com
502.365.9833
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