At Allred-Black Real Estate we will work to earn your business. Our professionalism, quality service, consistent communication and good old-fashioned hard work get results. Your satisfaction is what matters most, and we know that getting your home sold quickly and for top-dollar brings the most satisfaction to our clients.
We have a proven system to get the best possible result when selling your home. Our objective is to maximize your return and get your home sold FAST. See our home selling checklist to see what we will do for you.
The simplest definition of property value is what a buyer is willing to pay and a seller is willing to accept. Most sellers have some ideas of what their property is worth, whether accurate or not, based on several factors: what they paid for the property; the price at which a neighbor bought or sold a property; what someone else told them about the value of their property, etc. Ultimately, any buyer will compare your property to the other properties recently sold in the same area to determine whether or not the price is "fair". There are a number of factors to consider when determining value:
Timing is crucial. A property attracts the most activity and attention from potential buyers and agents when it is first on the market. The longer a property is listed the less the activity, and as a result, the lower the price. The concept of "starting high, then lowering the price" often results in far less activity, not only when a home is first listed, but often after price adjustments. Starting with a lower price often generates multiple offers driving the sale price up. Therefore, pricing a property accurately is the key to getting it sold. More often that not, the first offer is usually the best offer.
As you have undoubtedly heard before, one of the key components to property value is location, location, location. The proximity to community services such as work, public transportation, parks, schools, churches, and shopping are all play a role in valuation. Other location-based factors that dramatically influence value - particularly in the Boise area are water-front or water access properties, view lots, or the "quaintness" of an area (eg., the North End).
The size, style, age, A and quality of construction are all factors that determine the value of a property. Also, the overall condition as well as specific condition of the roof, furnace, plumbing and electrical systems all affect a homes value.
The term "Comps" refers to the asking, and more importantly the selling price of comparable homes in the same community. The best way to determine an accurate range of values for your particular property is for our team to prepare a detailed Comparative Market Analysis (CMA) based on home sales in your area.
The housing market fluctuates depending on many external influences including:
A level or balanced market exists when supply = demand. Prices are stable as the number of homes available is roughly equal to the number of potential buyers.
A buyers market exists when supply > demand. In this type of market there are more homes for sale than there are buyers seeking to buy. Prices tend to fall and homes remain on the market for longer periods of time. Buyers have more options and more bargaining leverage, thus the term "buyers market".
A sellers market exists when supply < demand. In this case, there are fewer homes on the market than there are buyers looking to purchase. Prices rise and homes sell very quickly, in some cases with multiple offers and "bidding wars".
The Treasure Valley overall is experiencing a balanced market. However, some valley communities are experiencing higher than normal demand resulting in sellers market conditions. The key is knowing your particular market and then pricing your home accordingly. At Allred-Black we will provide and accurate CMA detailing the current market conditions in your specific community.