I have a three bedroom, one bedroom townhouse, 20 minutes from DC on the Maryland side. I put it on the market last year and didn't get any offers. My realtor priced too high and then tried to chase down the market. He also gave bad advice in terms of improving condition, marketing, positioning etc. I have one of the largest lots in the neighborhood which was not mentioned in the listing or shown in the pictures.
I'm working on improving everything now. I have put in 20k in updates in the house. 10k for a new kitchen and bathroom doing the work myself and 10k for moving the walls to make an open layout. Adding a bathroom is not on the budget. I have a shot list for the pictures. I will get an inspection.
CMA's vary widely for my house. Which I now understand is because what buyers value varies a lot. So I will be getting an appraisal.
I will be putting the inspection on the public section of MLS.
My question is: should I put the appraisal on the public section of the MLS?
If not, why? You might say that putting the appraisal on MLS will anchor the price. Why is that a problem?
Buyers are skittish these days and think that buying a house is like buying an iphone and they just need to make a few clicks and they're done. I'm trying to make it as easy as possible to make a decision.
I'm aware that the market dictates the price, not the appraisal. But there have been no comps for my layout in the past year. Since there are no three bedroom, one bathroom, exterior units to compare to, when buyers are scrolling, i think that is making it harder for them to feel confident.
Psychological safety for buyers
byu/MayaBookkeeper inRealEstate
Posted by MayaBookkeeper
1 Comment
An appraisal is valid only on the day it’s done. Appraised value changes every time a relevant property closes, goes under contract, or is listed.