{"id":5967,"date":"2016-09-02T08:37:02","date_gmt":"2016-09-02T08:37:02","guid":{"rendered":"https:\/\/www.movoto.com\/foundation\/?p=5967"},"modified":"2016-09-02T08:37:02","modified_gmt":"2016-09-02T08:37:02","slug":"san-jose-mls-7-rules-for-pricing-your-home-correctly","status":"publish","type":"post","link":"https:\/\/www.movoto.com\/blog\/san-jose-mls-7-rules-for-pricing-your-home-correctly\/","title":{"rendered":"San Jose MLS: 7 Rules for Pricing Your Home Correctly"},"content":{"rendered":"

Sellers looking to sell a home in San Jose, California <\/a>are in for a surprise, this thriving affluent city has been turning property at record speed\u00a0at comparable prices.\u00a0Of course, most homes are sold by realtors and listed in the San Jose MLS<\/a>.\u00a0Selling on your own has some benefits, but it\u2019s still not an easy task working alone.\u00a0If you\u2019d like to give it try, here are 7 Rules for pricing your home correctly within the current market, and get listed\u00a0for\u00a0viewing\u00a0by\u00a0realtors and potential buyers.<\/p>\n

1. Research<\/h2>\n

\"San<\/p>\n

Source:flickr.com<\/p>\n

Pricing is a process using past indicators to predict the future.\u00a0Let\u2019s start where your live, you need to research recent sales data for homes in your neighborhood.\u00a0It\u2019s relatively easy to do nowadays with the internet sharing so much good and sad information on real estate.\u00a0Pay attention to the history of trends in San Jose and the rise and fall of appreciation rates.\u00a0This information tells you the type of market that exists.\u00a0If the market is hot with fast turnover rates, and sales are at listed prices, you stand a good chance of getting your asking price.\u00a0If the market is sluggish, you need to stop and reconsider listing \u2013 if you can.<\/p>\n

2. Comparable Properties<\/h2>\n

If you\u2019ve started your research this makes sense as a valuable home pricing tool.\u00a0Industry comps are prices for similar homes recently sold in the area.\u00a0It gives you solid information on what\u2019s selling and for how much.\u00a0Before you list the home at a high price, you need to find several homes similar to yours pertaining to square footage, locations and conditions within the house.\u00a0I suggest that you compare at least 2 other resources besides San Jose MLS for pricing comps, and at least the past 6 months.\u00a0Look at the homes that have sold, not the ones still listed for sale.\u00a0Closed sales tell you what the buyers are willing to spend to own a home like yours<\/a>.<\/p>\n

3. Buyers<\/h2>\n

Getting an accurate read on the market\u00a0helps you have a price listing that will interest buyers.\u00a0Some things you can do on your own and others, you need a professional.\u00a0You did the research and now you need to get an appraisal of your home.\u00a0The costs vary depending on where you live, but normally fall around $200-$300.\u00a0This task is essential, when appraisers look at your home; they use comps and do the market research to establish a price for the property in the current market.\u00a0Based on what you found and what they report, you can confirm you’re on track\u00a0for\u00a0pricing correctly.\u00a0Professional\u00a0reports\u00a0are conservative findings without the emotional attachment you have\u00a0with your home.<\/p>\n

4. Stats<\/h2>\n

\"San<\/p>\n

Source:wikimedia.org<\/p>\n

Here are some recent stats on the San Jose market.\u00a0Median sales price for homes through January 2016 was $730,000.\u00a0Past history of this market, shows\u00a0a 1.4% decline from the 3rd quarter of 2015.\u00a0The best news is appreciation rates are up in San Jose.\u00a0Average listing prices for San Jose homes increased to $771,000\u00a0at the end of December 2015.\u00a0The news gets better the average square foot cost is $509 going into 2016.\u00a0Translation, median sales price is $40,000 less than the average listing prices.\u00a0This should give you an idea of where you home needs to be priced.\u00a0If you\u2019re still having difficulty in determining the price for your home, it\u2019s time to ask for help<\/a>.<\/p>\n

5. Trends<\/h2>\n

There\u2019s a mindset in the industry that sellers list high as a sign they are open to negotiations.\u00a0Keep in mind, buyers have done their homework too, and if they\u2019re working with an agent<\/a> so has the agent.\u00a0The last thing as a seller, you want to deal with are multiple counteroffers, so it’s critical that you set your price at acceptable market prices.\u00a0Real estate is a tough business; buyers are looking for the best deals for high end property so don\u2019t be offended with the low ball offers.\u00a0Simply reject them.<\/p>\n

Current trends in 5 popular San Jose\u00a0neighborhoods have list prices ranging from the low $400,000 to the high $990,000.\u00a0All 5 areas have increased week over week (W-O-W) with percentages ranging from 0.7 to 4.1.\u00a0The movers and shakers in the area are listing properties from the mid $350,000 to 1.6 million with increases as high as 13% and -27% in one of the neighborhoods.<\/p>\n

The current trends, look like a good market for high listing prices and fair market value for buyers interested in calling San Jose home.<\/p>\n

6. San Jose MLS<\/h2>\n

\"San<\/p>\n

Source:wikimedia.org<\/p>\n

The MLS is both a resource for finding real estate information and a marketing tool.\u00a0Realtors and buyers view the San Jose MLS\u00a0looking for\u00a0new listings, monitor older ones and keep up with the homes sold in the area.\u00a0It\u2019s a good idea to list your home in the same marketing publications and watch what happens \u2013if the pros are using it, it works.<\/p>\n

Here\u2019s something that can happen, when your home is listed in the MLS.\u00a0If a realtor or buyer already working with a realtor contacts you and you accept an offer\u2013 you are responsible for the commission being paid to the buyer’s agent.\u00a0The good part, it\u2019s only a partial since you are the seller, but the additional fees will come out of the final sales price from the home.\u00a0While you\u2019re working on determining a fair market price for your home, remember to account for partial commissions.<\/p>\n

7. Neighborhoods in Demand<\/h2>\n

If you stick to these rules, you\u2019ll be confident with the decision you\u2019ve made in pricing your home for sale.\u00a0In growing neighborhoods like San Jose, it really doesn\u2019t hurt to talk to a realtor to make sure you are on track, especially if your home sells are quickly as the current market is reflecting.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sellers looking to sell a home in San Jose, California are in for a surprise, this thriving affluent city has been turning property at record speed\u00a0at comparable prices.\u00a0Of course, most homes are sold by realtors and listed in the San Jose MLS.\u00a0Selling on your own has some benefits, but it\u2019s still not an easy task working alone.\u00a0If you\u2019d like to give it try, here are 7 Rules for pricing your home correctly within the current market, and get listed\u00a0for\u00a0viewing\u00a0by\u00a0realtors and potential buyers. 1. Research Source:flickr.com Pricing is a process using past indicators to predict the future.\u00a0Let\u2019s start where your live, […]<\/p>\n","protected":false},"author":3,"featured_media":5968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[240],"tags":[],"class_list":["post-5967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-seller","post--single"],"yoast_head":"\nSan Jose MLS: 7 Rules for Pricing Your Home Correctly<\/title>\n<meta name=\"description\" content=\"San Jose MLS: 7 Rules for pricing your home correctly - Lean how to sell quickly in this blog by Movoto\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.movoto.com\/blog\/san-jose-mls-7-rules-for-pricing-your-home-correctly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Jose MLS: 7 Rules for Pricing Your Home Correctly\" \/>\n<meta property=\"og:description\" content=\"San Jose MLS: 7 Rules for pricing your home correctly - 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