Magic Formula to Home Pricing: Let me look into my crystal ball, your home price issssss….. It’s not magic, but there is a formula. Hi, I’m Kimmy Rolph and I represent buyers and sellers on The Main Line PA. Both buyers and sellers want to know why homes are priced a certain way. I specialize in pricing homes and I do not come up with prices out of thin air, or with a crystal ball, I have a three-part formula. Location, market value, at the moment, and age, amenity, and features of a home are how I determine the proper pricing of a home.
Let me explain how these features work. First your location, are you close to a starbucks, a hospital, or on the other hand a major road, all of these impact the value of your home, in negative and positive ways. Starbucks on the plus side and major road on the minus, unless the access to the city makes the property more valuable. Second is market value. This is probably the most misunderstood metric. Market value, while they have increased 20% in the last year, is still as much as what your neighbors are selling for, whose homes are similarly situated, and whose amenities are roughly the same. Every home is different, but inventory, availability on the market, days on the market, all will factor into my market analysis. Lastly, are the age, amentities and home features. This is probably the best understood factor in home value. A newer home may be more desirable than an older home and a pool more desirable than without. One thing is for certain, homes that are priced correctly are selling in a matter of days, above asking price, usually, and with excellent terms for the seller. If you are considering selling your home, please click the link for a free analysis of what your home is worth and I will help you list and sell your home. Kimmy Rolph sells The Main Line and local areas.
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