Deciding on a Price for Your Montebello Condominium

Julie Nesbitt takes a break from work
Your realtor Julie Nesbitt
When it comes time to put your Montebello condo on the market, how will you price your condo?  Pricing can make or break your sale. If you overprice your condominium, you risk waiting and watching without traffic or feedback.  On the other hand under-pricing your condo means minimizing your investment. The starting point for pricing should be based on recent sales in Montebello, not on personal attachment. Regardless of what you think your condominium is worth, the pricing should be based on market value - this is why it's important to find a good real estate agent, like Julie Nesbitt, who is familiar with the 22303 zip code who has worked and sold in this area for years. Julie starts by looking at what other comparable condos in the Huntington area have sold for. This is called a comparative market analysis (CMA).
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Winning takes talent, to repeat takes character. -John Wooden
Another important consideration is the market. To be safe you want to allow yourself enough wiggle room to come down in negotiations, but if it's a buyers' market you will have to do more to make your condominium stand out. Pricing your condominium below the competition should ensure multiple offers, thus driving up the selling price. Other tactics include being flexible around financing options and offering incentives. In any case, you want to price your condominium low enough that you will get traffic through - the first three weeks are important. If the condo sits longer than three weeks perspective buyers may assume something's wrong with it. In a seller's market it's safe to add 10 per cent to the last comparable sale in your neighborhood and in a balanced market you may aim to add an amount based on the last comparable sale plus the average market increase calculated over the time since that sale. Remember, pricing your Montebello condo is as much an art as it is a science. In the end the price is important, but marketing and staging your condominium plays a vital role as well. A good realtor can guide you through this process and help you get the best price for your condo. Recently Sold at Montebello
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Will Nesbitt

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Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.