It’s clear that the bloom is off the California Real Estate rose specially since August 2014, homes sales have declined by 13.5%. And perhaps that’s why your Saratoga FSBO is not selling as quickly as you might have expected.
The sales data indicates that the number of homes sold in August 2014 declined to 34,269 homes. We are already seeing signs of slow down in sales in Saratoga, Los Gatos, Campbell, and San Jose on hope that are staying on the market much longer than the heady days of Spring.
So if your Saratoga FSBO home is not selling, you need to re-consider your pricing strategy. Using the the most recent sales within 1 mile radius of your home that closed in the last 30 days. Using comps that are older than 30 days will result in might higher sale prices which is not an accurate reflection of the current market.
Also, make certain the Sold Comps you utlize are within 300 square feet in size. Finally, the age difference between your home and these sold comps should not be more than 5 years.
But even if you commit to all this work, these comps have to be adjusted for :
- Lot Size
In fact, the most reliable way to find your home’s value it to work with a local Realtor who can develop Competitive Market Analysis (CMA) on your home. Your CMA will include qualified sold comps. But the neat part of CMA is that the sold prices can be adjusted for
You could use sites like Zillow, Trulia or Redfin to find sold homes in your zip code. But these sites will not allow you to adjust the prices as you could do with a CMA..
Contact Us if you need help with a CMA.