Pricing Your Property Correctly
At Dezyna.Prop we make use of the services of
Lightstone, which is directly linked to the deeds office
with updated monthly stats. We prepare a market related
valuation on your home which relates to the amount
estimated to be the market value based on actual sales in
the area by means of a CMA (Comparative Market
Amongst other factors, we take into consideration:
that market conditions can change rapidly due to a
myriad of external factors;
that the property market is a very local market and
that conditions in one area do not always influence
prices in another; and
that market forces of supply and demand regulate the
price of property.
Here are some home truths about property pricing that
sellers may want to take cognisance of:
The price that you paid for your property, the amount
of money you have spent on it, the average capital
growth on properties and the municipal valuation are
not necessarily particularly relevant to the present
value of your home.
Overpricing your property when it initially goes onto the
market will probably be the main reason that it does
not sell as soon as you have anticipated.
The length of time that a property is on the market is
bound to affect the price. If it was overpriced when it
came onto the market, it will most probably sell at
below true market value because the price has been
reduced by an over-exposure to the market.
The length of time on the market will not increase the
price of the property, i.e. you will not necessarily
receive a higher offer if you wait longer. Take the time
value of money into account.
The value of a home is determined by what a willing,
able and informed buyer will pay a willing seller on a
Pricing your home correctly (fair market value) is the
way to ensure a quick sale at the highest possible price