I believe the most important part in selling a client's home is to come up with the right selling price. While this may sound simple, I have seen many sales where the property was mispriced. I once had an agent tell me she got 24 offers at the open house. Had the property been properly priced, this would never have happened. It is equally distressing to find a seller who has priced his property out of the market. The cost of not selling at all can be even greater than selling at a discount.
The numbers below may seem meaningless at first but they are actually a fact-based approach that takes all of the guesswork out of pricing a property. The version a seller gets includes notes and photos of the "comparable" used.
Abbreviations
Hse SF: square feet of living area, according to the assessor
$/SF:LA: Sales price per square foot of living area
DA2:6/30: "Date adjusted to 6/30" value to reflect future value based on known appreciation rates
$/SF/LA:DA: Projected selling price per square foot of living area
Rm/Br/Ba: Number of rooms, bedrooms, baths according to the assessor's office
Best avail. Comp. DA: Property closest in size, location, condition and amenities to the subject property date adjusted based on market appreciation
Subj. DA: Projected sale price of property being valued based on known appreciation rates
Assmt + 27.6%: Assessed value plus variable factor
Avg cmps in avg cond.: Average of the most comparable properties in average condition
| Address | Sale Price | Date | Hse SF | Lot SF | Assessmt. | $/SF-LA | DA2-6/30 | $/SF/LA-DA | Rm/Br/Ba |
|
Subject |
$140,000 |
9/27/93 | 1362 | 6569 |
$144,700 |
102.79 |
$213,500 |
156.75 |
7/3/1 |
|
xxx Bromfield |
$160,000 |
4/8/98 | 1514 | 4200 |
$142,400 |
105.68 |
$220,800 |
145.84 |
7/3/1 |
|
xx Ferndale |
$192,000 |
11/28/97 | 1968 | 4752 |
$169,100 |
97.56 |
$279,360 |
141.95 |
8/4/2 |
|
xx Phillips |
$181,500 |
9/16/98 | 1248 | 6300 |
$137,400 |
145.43 |
$235,950 |
189.06 |
7/3/2 |
|
xxx Phillips |
$198,900 |
8/28/98 | 1520 | 5250 |
$143,100 |
130.86 |
$262,548 |
172.73 |
7/4/1 |
|
xx Rawson |
$166,000 |
3/27/98 | 1514 | 1998 |
$131,000 |
109.64 |
$231,570 |
152.95 |
6/2/1 |
|
xxx Marlboro |
$184,000 |
12/29/98 | 1368 | 4500 |
$132,700 |
134.50 |
$231,840 |
169.47 |
6/3/1 |
|
xxx Davis |
$152,000 |
5/1/98 | 936 | 5504 |
$117,400 |
162.39 |
$209,760 |
224.10 |
5/2/1 |
|
x Oxenbridge |
$186,500 |
3/6/98 | 2040 | 4364 |
$139,900 |
91.42 |
$246,180 |
120.68 |
8/4/1 |
|
x Oxenbridge |
$155,000 |
12/31/97 | 1637 | 4320 |
$149,600 |
94.69 |
$223,200 |
136.35 |
8/4/2 |
|
x Hamden Cir |
$140,000 |
7/31/98 | 1188 | 5301 |
$127,400 |
117.85 |
$186,900 |
157.32 |
6/3/1 |
|
xx Willet St. |
$135,000 |
12/30/98 | 1174 | 3271 |
$116,400 |
114.99 |
$170,100 |
144.89 |
6/2/1 |
|
xx Willet St. |
$136,400 |
12/18/98 | 792 | 5166 |
$111,000 |
172.22 |
$171,864 |
217.00 |
5/2/1 |
|
xx Willet St. |
$181,000 |
6/9/98 | 1318 | 3839 |
$118,800 |
137.33 |
$244,350 |
185.39 |
7/3/2 |
|
xxx Willow St. |
$205,000 |
3/1/99 | 1512 | 5250 |
$145,600 |
135.58 |
$254,200 |
168.12 |
7/4/1 |
|
xx-xx Kemper |
$233,000 |
11/20/98 | 1833 | 9450 |
$169,900 |
127.11 |
$298,240 |
162.71 |
7/-/2 |
|
xxx Kemper |
$169,900 |
4/1/98 | 1248 | 3829 |
$123,400 |
136.14 |
$237,011 |
189.91 |
7/3/1 |
|
xxx W. Elm |
$181,000 |
11/20/98 | 1488 | 5000 |
$138,600 |
121.64 |
$231,680 |
155.70 |
7/-/1.5 |
|
xx Elm Ave. |
$205,000 |
11/4/98 | 2296 | 6473 |
$178,800 |
89.29 |
$264,450 |
115.18 |
10/4/2 |
|
xxx E. Elm |
$210,000 |
11/2/98 | 1448 | 5000 |
$136,400 |
145.03 |
$270,900 |
187.09 |
7/2/1 |
|
x W. Elm |
$174,000 |
6/26/98 | 1896 | 4785 |
$150,200 |
91.77 |
$234,900 |
123.89 |
7/3/1 |
|
Average |
$177,310 |
N/A | 1497 | 4928 |
$138,955 |
123 |
$235,290 |
157.18 |
N/A |
|
xx E. Elm |
$121,800 |
11/18/98 | 1612 | 5000 |
$136,100 |
75.56 |
$131,544 |
81.60 |
6/3/1 |
|
Best avail. comp. DA. |
|
|
|
|
|
|
$252,501 |
|
|
|
Subj. date adjusted(DA) |
|
|
|
|
|
|
$213,500 |
|
|
|
Assessment + 27.6% |
|
|
|
|
|
|
$184,640 |
|
|
|
Avg. cmps in avg. cond. |
|
|
|
|
|
|
$216,880 |
|
|
|
Value on 6/30 |
$229,380 |