House Hunting In Toronto Real Estate Guide: Set The Price

Toronto Real Estate Guide: Selling A House In Toronto

MENU	HOW MUCH IS YOUR HOME WORTH?	CMA
	Remembering how much you paid for your home years ago is not relevant to its current market value. In order to get an idea what your home is worth, you can ask a Realtor to prepare a so-called "comparable market analysis" (CMA). A CMA shows the prices of recently sold homes that are comparable to yours and the prices of comparable homes on the market. You can also purchase a professional appraisal, but that will cost you several hundred dollars. In addition to a serious CMA, neighbourhood open houses are a good opportunity to view comparable homes for sale. However, it is not easy to be objective about your own home and you should not assume that the listing price on a for-sale necessarily reflects the home's true market value. As for the method of online home valuation as offered by a number of websites: a form can not replace visual examination and personal contact. You should think twice before paying between $10 to $40 for something you can get for free and probably much better from your real estate sales representative.	If you own real estate in the Greater Toronto Area and you are considering to sell your property, we will be happy to prepare a free Comparable Market Analysis (CMA) for you. Please give us a call at 416-461-0925 or send us an e-mail:

	SET YOUR LIST PRICE
	Once you have a rough idea of what your home would be worth, it is time to think about setting the list price. All homes have a price, and sometimes more than one. Take for example the price you would like to get, the value buyers would like to offer and a point of agreement which can result in a sale. When setting your list price, consider the following factors: Sales prices are a product of supply and demand. The value of your home relates to local sale prices. Your own needs can impact the sale value (for example if you must sell quickly). Sale prices are not based on what you need. Sale prices are only part of the deal. Abandon your personal point of view. Buyers do not care how much you paid for your home, how many memorable moments you and your family shared in the home, or how much downpayment you need to finance your new home. Consider the market conditions. Are home prices in your area trending upwards or downwards? Are homes selling quickly or languishing? Will your home be on the market in the spring home-buying season or the dead of winter? Are interest rates attractive? Is the local job market strong? Is the economy hot or cold?