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EASTERN BYPASS

Real Estate

HOW EASTERN BYPASS HAS FACILITATED THE GROWTH OF KAMAKIS TOWN

Kenya Homes - September 12, 2023

Before the Movers Arrive

Real Estate

Things to Do Before the Movers Arrive

How to Move During the Coronavirus Pandemic

Real Estate

How to Move During the Coronavirus Pandemic

How Do Property Taxes Apply to Vacant Land?

Real Estate

How Do Property Taxes Apply to Vacant Land?

Should Buyers Sue Sellers for Not Revealing Problems With the Home?

Real Estate

Should Buyers Sue Sellers for Lack of Disclosure?

Real Estate Auctions – What You Need to Know

Real Estate

Real Estate Auctions – What You Need to Know

Kenya Homes - November 5, 2019

Is November The Best Month To Sell?

Real Estate

Is November The Best Month To Sell?

Kenya Homes - November 4, 2019

Virtual Staging: An Innovative Way to Impress Buyers

Real Estate

Virtual Staging: An Innovative Way to Impress Buyers

Kenya Homes - November 1, 2019

How to Challenge a Low Appraisal

Real Estate

How to Challenge a Low Appraisal

Kenya Homes - October 31, 2019

Tips for buyers and sellers

Real Estate

Tips for Buyers and Sellers: Should It Stay Or Go?

Kenya Homes - October 31, 2019

Why buyers are turning away from luxury property

Real Estate

Why buyers are turning away from luxury property

Kenya Homes - October 30, 2019

Do you need a real estate lawyer?

Real Estate

Is a Real Estate Lawyer Important?

Kenya Homes - October 28, 2019

do you need a building permit for home improvements?

Real Estate

Is a Building Permit Needed for Home Improvements?

Kenya Homes - October 28, 2019

How to Actually Afford to Buy a Home in Kenya

Real Estate

How to Actually Afford to Buy a Home in Kenya

Kenya Homes - October 25, 2019

5 Questions to Ask Yourself Before Buying a Foreclosure

Real Estate

5 Questions to Ask Yourself Before Buying a Foreclosure

Kenya Homes - October 24, 2019

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Hire The Right Property Manager

Mistakes in Real Estate.

April 3, 2019

Tips For Maximizing Your Time During House Hunting

Tips For Maximizing Your Time During House Hunting

December 17, 2018

Can I Buy Property 100% Online?

Can I Buy Property 100% Online?

January 7, 2020

If you're putting your home on the market, especially if you live in an area where prices are going up and buyers are competing for homes, you may be tempted to try listing it at a high price. Don't do it. Experienced real estate agents will tell you that pricing your home appropriately from the beginning is critical to getting it sold quickly and at the best price. Research shows that overpricing your home and then dropping the price several times while it languishes on the market usually leads to selling it at a much lower price than what you originally should have asked for it. The longer a home stays on the market, the deeper the discount is likely to be off the original price. Related Articles What Is a Listing Agent? Why a Home Sale Hinges on Agent's Expertise How Much Does It Cost to Sell a House? Here's a Reality Check How Much Is Your Home Worth? For example, according to McEnearney Associates, a McLean, VA, real estate company, homes that sold in August 2013 within their first week on the market sold for an average of 2.08 percent above list price. Homes that lingered on the market for four months sold for an average of 11.53 percent below their original price. How to price your home correctly Many homeowners want to set their list price based on what they paid for their home, the balance of their mortgage, or on the profit they want to make so they can move into another home. In reality, your home is worth only what the market will bear. If you price your home too high, some potential buyers won't want to look at it at all, while others will simply walk away without making an offer. If you're interviewing several real estate agents to choose a listing agent, you may be tempted to pick the sales professional who suggests the highest price for your property. But sellers, like buyers, need to beware. The real estate agent who provides the best comparative market analysis and explanation of how your home should be priced will be more likely to sell your home quicker and for a higher price than someone who tells you only what you want to hear. A comparative market analysis should include sales prices for similar nearby homes that sold in the last month or two. In addition, many real estate agents include prices for homes currently on the market that will be your competition, as well as homes taken off the market because they didn't sell. Other data real estate agents can use to suggest a price range include how many days homes were on the market at various price points and the average difference between the list prices and sale prices on homes that have sold. Your real estate agent can help you estimate who might want to buy your house and what else those buyers are looking at so you can measure your price against the competition. A knowledgeable real estate agent can factor in all of these issues in the context of your local market conditions, including whether home prices are rising or falling and whether it's a buyer's or seller's market. Choose the right professional to help you with your home sale and then listen to your real estate agent's advice and your transaction is more likely to go through quickly and smoothly from the beginning.

Your First Home Asking Price Is Crucial

January 8, 2020

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Emotional benefits of owing a home

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Emotional Benefits of Owning a New Home

Renting vs. Owning a Home: What's the Difference?

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Renting vs. Owning a Home: What’s the Difference?

There is a Wrong Way of Investing in Real Estate

Real Estate

There is a Wrong Way of Investing in Real Estate

Pros of Buying a Home off Plan

Real Estate

Pros of Buying a Home off Plan in the Kenyan Market