Maryland's Property Team

Step 2- Establish Current Market Value

Schedule a FREE No-Obligation Confidential Consultation

  • A detailed look at your property's features
  • Location, location, location
  • Property type
  • Detached
  • Condo
  • Townhouse
  • Square footage
  • Number of bedrooms
  • Number of baths
  • Lot size
  • Age of home
  • Condition
  • Structural and Mechanical
  • Roof
  • Siding
  • Doors
  • Windows
  • Heating and cooling
  • Electric
  • Plumbing
  • Water
  • Sewage
  • Appliances
  • Stove
  • Fridge
  • Dishwasher
  • Microwave
  • Washer
  • Dryer
  • Water heater
  • Property Features
  • Waterfront
  • Water view
  • Water access
  • Pool or pool permit
  • Garage
  • Parking
  • Lifestyle features
  • Entertainment
  • Shopping
  • Travel
  • Night life
  • Community amenities
  • Water access
  • Beach
  • Boat launch
  • Piers
  • Pool
  • Golf
  • Common grounds
  • Walking trails
  • Security
  • Age restrictions
  • Snow removal
  • Tot lot
  • Basketball courts
  • Tennis courts
  • Private roads
  • Storage
  • Water & sewer
  • Heating & cooling
  • Maintenance & Insurance
  • All-Inclusive
  • Drywall In
  • Exterior
  • Upgrades in last 5 years
  • Copy of report from Comprehensive Loss Underwriting Exchange
  • Red flags
  • Latent defects
  • Material facts
  • Deferred maintenance
  • Physical deterioration
  • External obsolescence
  • Functional obsolescence
  • Anything specific to your property
  • How is market value determined?
  • Market Data
  • Recently sold properties
  • Pending sales
  • Active listings
  • Properties that failed to sell
  • Buyers
  • The 2 questions every buyer asks
  • What is the list price?
  • How long has the property been on the market?
  • What is a buyer willing to pay today?
  • The same concept as the stock market
  • Snapshot in time
  • In a cyclical market there will be natural ups and downs
  • Buyers tend to price compare vs negotiate today
  • If buyers see value, they purchase
  • If buyers do not see value, they keep shopping
  • Local conditions & trends
  • The average sales price vs. list price ratio in Anne Arundel averages around 99%
  • Sales prices are generally up year over year
  • Inventory is low
  • Buyer’s expectations are high
  • Well priced listings in good condition tend not to last long
  • Many homes need some updating
  • Most buyer’s want turnkey and will pay premium for it!
  • Strategically setting the list price
  • There is no perfect answer for what your property is worth until it has sold
  • No two properties are exactly alike
  • We will research the market data through BrightMLS, the local multiple listing service
  • Properties sold publicly and privately
  • Our job is to tell you what our interpretation of the market data says a property is worth. What a property is worth to a buyer or seller can be different
  • Advantages of action pricing
  • Getting top dollar
  • Selling quickly
  • Leverage during negotiations
  • Favorable terms
  • Disadvantages of overpricing & lukewarm pricing
  • Less traffic
  • Lost buyers
  • Appraisal issues
  • Most potential offers will include an appraisal contingency
  • Sales comparison approach to value in residential real estate
  • FHA, VA & conventional guidelines appraisers must use
  • The longer it takes to sell, the less you will get
  • Properties don’t sit on the market and sell for top dollar
  • Average sales price to list price ratio in our market is 99%
  • Properties that go under contract in less than 30 days average close to 100%!
  • 30-90 days ~ 95% average
  • 90+ days ~ 90% average or less
  • Ask us to see our most recent monthly 30-60-90-day report!
  • Things that cost sellers money in today's market
  • "Let's leave some room to negotiate"
  • "Let’s try this number and we can always reduce later"
  • "The buyer can do that"
  • "The buyer can pay for that"
  • Make sure the numbers work for you
  • What can you expect to walk away with after the sale?
  • What matters most!
  • Estimated NET Proceeds Sheet
  • Mortgage payoff
  • Transfer taxes
  • Recording fees
  • Settlement costs
  • Recommend speaking with your accountant about tax advice!
  • Is it best to sell or does another option make more sense?


Next: Step 3- Get the Property Ready for the Market