Setting your list price for your Michigan Home
Whether it is Wayne County Real estate, Oakland County real estate,
 Washtenaw County Real estate, or Livingston County Real estate


Do not set your list price by:

  • what the neighbor down the street sold his house for
    WHY?   because the house down the street may have features that your home does not
                  because it the house down the street may have sold too long ago.  The real estate market may have changed.  Are home prices falling or are they rising rapidly?
    How do you know that?   
  •  what you have into the house
    WHY?  just because you put $50,000 in landscaping or a bathroom does not mean that the house is worth $50,000 more
  •  what you read in the local paper
    WHY? each neighborhood and home is different. 



How to set your list price
  • Have a Comparative market analysis done by one or more agents.
    A Comparative market analysis shows:
    • Homes that are similar to yours in style, square footage, and amenities
    • Homes that have sold recently usually within the last 6 months or year 
    •  Homes that are close to yours in location.  In your subdivision, or subdivisions like yours, within a square mile, within your city.
    •  Shows what price they sold for, how long ago so you can compare them to yours
    •  May include your current competition (Michigan homes for sale in your city) that are similar to yours in style, square footage, and amenities.

By using a comparative market analysis (CMA) you can see what other Michigan homes have sold for, how they compare to your home, and what an extra room, or an over sized lot may add or subtract from the price of your home.  A CMA puts your list price down in black and white that you can see where the market is and where your competition is.
 
You can set you list price anywhere you want.... even over what the CMA shows.  But you are going against solid market evidence.  Remember when you set your home price too high your home will sit too long,  lose the market "newness and enthusiam" and lose potential buyers.  The longer your home sits on the market the more buyers will low ball your or wonder what is wrong with your home.

And if you price your Michigan home too low you are losing money.

We do CMA's for homes in Wayne County, Oakland County, and Livingston County.
Some of the many cities we do CMA's for are Livonia, Canton, Plymouth, Redford, Northville, Novi, South Lyon, Commerce Township, Wayne, Inkster, Garden City, Westland, Dearborn, Dearborn Heights, Detroit, Howell, Brighton, Southfield, West Bloomfield, Farmington, Farmington Hills, Milford, Salem Township, Van Buren, Belleville, Romulus