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PRINCIPLES OF EVALUATION

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COST
The amount actually paid for a property plus any capital improvements made since the purchase.

PRICE
The stated amount an owner is willing to accept for a property.

VALUE
The amount a buyer is willing to pay given a certain set of circumstances.  In an ever changing market it is of the utmost importance to make sure you are being realistic when setting your "Asking Price"

MARKET VALUE
The amount that will bring a sale between a ready, willing, and able buyer and a willing seller. It is based on the history of similar properties recently sold in the area.

REGRESSION & PROGRESSION
The effect that surrounding home sizes have on the value of a subject property. Regression is the decrease in value when surrounded by smaller homes, progression is the increase when surrounded by larger homes.

SUBSTITUTION
Substitution refers to the actual value of an amenity. Value is determined not by the cost invested in a property, but by the value derived from it. In the following example, the home with the more expensive well is worth no more because value is in the water, not the cost of obtaining it.

Call KATHERINE  BREIG for a fair evaluation of your home. I work to give the finest client service available.

Pricing your property realistically from the start you can benefit from the greatest interest among brokers and buyers. A property generates the most interest when it first goes on the market. The number of showings is greatest during this time IF it is priced at realistic market value.
    Pricing your property competitively will help your property sell in the shortest time possible. The higher the price above realistic market value, the more time it will take to sell.
    Pricing your property competitively will help attract the greatest number of potential buyers. The pool of prospective buyer is at its greatest number when a home is priced realistic market value. As the price moves above realistic market value fewer number of buyers are willing to consider your property.
    Listing your property with a competent Realtor will give you the market value knowledge of your home. Call KATHERINE  BREIG today.

IN A STABLE MARKET
Pricing strategy is balanced. Sellers choose whether time or price is more important.

IN A RISING MARKET
Pricing strategy is aggressive. Price is set on the high side of value estimates.

Pricing strategy is conservative. Sellers price on the low side of value estimates.

• Look at sold properties that are similar to yours.
• These homes show us the buyer’s perception of value in your market area.
• Look at comparable homes that haven’t sold.
• They tell price levels to avoid.
• Review comparable home on the market now.
• They tell how your competition is priced.
• Look at the number of homes on the market.
• Supply and demand impact pricing strategy.
• The more homes on the market, the more pricing competition.

PRESENTED BY:  Katherine  Breig  
REALTOR® Associate  ~  Greg Malik Real Estate Group  ~  

(805) 235-7698