[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2f4ll1idowrfo":3,"$ffeh0925h8cuz":51,"$f2emv3tus0uf1":55,"$fbwk2pqjjqsc7":59},{"item":4,"previous":39,"next":45},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":37,"updatedAt":38},1355,"2-things-you-need-to-know-to-properly-price-your-home","2 Things You Need to Know to Properly Price Your Home ","In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%). However, they are still are above historical norms. Low supply of listed homes and high demand from buyers has pushed prices to rise rapidly.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F05\u002F13164259\u002F20190528-Share-KCM-1.jpg","In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%). However, they are still are above historical norms. Low supply of listed homes and high demand from buyers has pushed prices to rise rapidly.\u003C!--more-->\r\n\r\nIn the mind of the homeowner, annual home price appreciation over 6% has become the new normal. This becomes a challenge when a homeowner looks to refinance or sell their home, as the expectation of what the homeowner believes the home should be worth does not always line up with the bank’s appraisal.\r\n\r\nEvery month, the \u003Ca href=\"https:\u002F\u002Fwww.quickenloans.com\u002Fpress-room\u002F2019\u002F04\u002F09\u002Fowner-perception-of-home-values-dropped-50-in-march-according-to-quicken-loans-study\u002F\">\u003Cem>Home Price Perception Index (HPPI)\u003C\u002Fem>\u003C\u002Fa> measures the disparity between what a homeowner seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.\r\n\r\nOver the last five months, the gap between the homeowner’s opinion and the bank’s appraisal has widened to -0.78%. This is important for homeowners to note, as even a 0.78% difference in appraisal can mean thousands of dollars that a buyer or seller would have to come up with at closing (depending on the price of the home).\r\n\r\nThe chart below illustrates the changes in home price estimates over the last 12 months.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F05\u002F20190515-ENG-MEM.jpeg\">\u003Cimg class=\"aligncenter wp-image-39813\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F05\u002F20190515-ENG-MEM.jpeg\" alt=\"2 Things You Need to Know to Properly Price Your Home | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch4>\u003Cstrong>While the appraisal gap widens, another trend is also becoming more common. \u003C\u002Fstrong>\u003C\u002Fh4>\r\nAccording to \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fapril-2019-data\u002F\">\u003Cem>realtor.com\u003C\u002Fem>\u003C\u002Fa>, \u003Cem>“the share of homes which had their prices cut increased by 2% compared to last year\u003C\u002Fem>”. Thirty-seven out of the 50 largest US housing markets saw an increase in overall price reductions.\r\n\r\nIn today’s market, you need an expert agent who can help price your house right from the start. Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the house. In reality, nothing is wrong- \u003Cstrong>the price was just too high!\u003C\u002Fstrong>\r\n\u003Ch3>\u003Cstrong> Bottom Line \u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you are planning on selling your house in today’s market, let’s get together to set your listing price properly from the start!","In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%). However, they are still are above historical norms. Low supply of listed homes and high demand from buyers has pushed prices to rise rapidly.\u003C!--more-->\r\n\r\nIn the mind of the homeowner, annual home price appreciation over 6% has become the new normal. This becomes a challenge when a homeowner looks to refinance or sell their home, as the expectation of what the homeowner believes the home should be worth does not always line up with the bank’s appraisal.\r\n\r\nEvery month, the \u003Ca href=\"https:\u002F\u002Fwww.quickenloans.com\u002Fpress-room\u002F2019\u002F04\u002F09\u002Fowner-perception-of-home-values-dropped-50-in-march-according-to-quicken-loans-study\u002F\">\u003Cem>Home Price Perception Index (HPPI)\u003C\u002Fem>\u003C\u002Fa> measures the disparity between what a homeowner seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.\r\n\r\nOver the last five months, the gap between the homeowner’s opinion and the bank’s appraisal has widened to -0.78%. This is important for homeowners to note, as even a 0.78% difference in appraisal can mean thousands of dollars that a buyer or seller would have to come up with at closing (depending on the price of the home).\r\n\r\nThe chart below illustrates the changes in home price estimates over the last 12 months.\r\n\r\n\u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F05\u002F20190515-ENG-MEM.jpeg\">\u003Cimg class=\"aligncenter wp-image-39813\" src=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F05\u002F20190515-ENG-MEM.jpeg\" alt=\"2 Things You Need to Know to Properly Price Your Home | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch4>\u003Cstrong>While the appraisal gap widens, another trend is also becoming more common. \u003C\u002Fstrong>\u003C\u002Fh4>\r\nAccording to \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fapril-2019-data\u002F\">\u003Cem>realtor.com\u003C\u002Fem>\u003C\u002Fa>, \u003Cem>“the share of homes which had their prices cut increased by 2% compared to last year\u003C\u002Fem>”. Thirty-seven out of the 50 largest US housing markets saw an increase in overall price reductions.\r\n\r\nIn today’s market, you need an expert agent who can help price your house right from the start. Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the house. In reality, nothing is wrong- \u003Cstrong>the price was just too high!\u003C\u002Fstrong>\r\n\u003Ch3>\u003Cstrong> Bottom Line \u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you are planning on selling your house in today’s market, let’s get together to set your listing price properly from the start!","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F05\u002F20190515-ENG-MEM.jpeg",false,[17,21,25,29,33],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers",{"id":26,"name":27,"slug":28},9,"Home Prices","home-prices",{"id":30,"name":31,"slug":32},11,"First-Time Buyers","first-time-buyers",{"id":34,"name":35,"slug":36},38,"Move-Up","move-up","2019-05-28T10:00:23Z","2019-05-21T14:46:08Z",{"id":40,"slug":41,"title":42,"featuredImage":43,"publishedAt":44,"contentType":10,"isVideo":15},1354,"all-gave-some-some-gave-all-8","All Gave Some. 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