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The “net price” of a real estate sale

May 27, 2009 By Doug Francis

After looking through some home sales data with a client in Oakton, it seemed like a good idea to clarify some of the determining factors when examining homes sales comparables that influence current pricing of homes.

Determining a net sales price for a home is impossible if you are looking at recent sales data published in the local newspaper. Newspapers publish only the sales price recorded at the county courthouse, and these numbers don’t reflect if there were seller credits to the buyer. And most real estate web sites take the same feed which leaves readers with less than complete information.

The easiest example would be if two very similar town homes sold in a subdivision, let’s call it Vienna Oaks. One sold for $530,000 and the other sold for $525,000 according to the Gazette, but when you are able to review the detailed sales data it shows that one of those sellers credited the buyer $12,000 toward their closing costs. And until you know where the numbers match up, you are in limbo.

There are at least twelve key factors that I review when determining valueappraiser of a home in a neighborhood primarily because today’s appraisers are aggressively scrutinizing each home and each recent comparable that they are using in their written analysis. No longer are they going back six months like the have done for years, but they are using data no older than 90 days.

Understanding the current playing field will help get your home successfully sold.

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Filed Under: Blog Tagged With: appraisal, discount points, seller

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In depth, helpful and fun has always been the objective. Outside real estate, he "starred" in a tech commercial for Verisign's "Where the World Clicks" campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna. He's a Boston University graduate who feels morning coffee is non-negotiable.

Being able to guide my clients through many real estate sales, either moving out, moving in, or just across town, has been a rewarding experience that helps when discussing a plan with a future client.

Being able to help them focus and understand our proven sales plan always eases their anxiety of this looming personal task. And, putting it into bite-sized steps always helps them get where they really want to be.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the town tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Questions? Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

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About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing ~ and my marketing starts here. My elite clientele has been attracted to my results-oriented strategy for years, and I am accepting new clients now.

Thanks for reading... and feel free to contact me at 703-304-6827 or send me an email at doug@dougfrancis.com anytime!

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TTR Sotheby's International Realty
6723 Whittier Avenue McLean, VA 22101

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