In determining a price for a home, you must consider the location of your home, know the property values in your area, study your competition, review recent closed sales and most important, evaluate the condition of your home.
There is a strong tendency for Sellers to over price the value of their home. This is normal. We all consider our home better than others and have a strong sentimental value to our homes. Be aware, however, that if your home is over priced it will sit on the market longer. You must rely on your REALTOR®® to help you make an objective decision.
The following are just a few strategies that you can utilize when pricing your home. Contact your sales agent for more information or assistance.
Remember that buyers do not have the same personal investment and attachment to your home that you do. They want the best value for their money. Keep your opinions objective and listen to outside parties when they give you an honest assessment of your home's value.
Ask your REALTOR® to check public records. Public record information for your area will give you an idea of what comparable homes are selling for in the market today. Do not base your assessment on how other homes are PRICED, but rather on recent SALES.
Assess your home's condition. Walk around your home and evaluate the condition of your home. Refer to the articles on this web site, "Preparing Your Home For Sale."
You may want to hire a home inspector to find out what kind of repairs, if any, are needed. Making the repairs before your home is placed on the market will impress your potential buyers.
If your goal is to sell the home quickly, you should price your home slightly below the competition. Keep in mind that buyer activity peaks during the first 30-45 on the market. If you want to get the best price, price your home competitively and remain flexible.
Obtain a Comparative Market Analysis from your REALTOR®. This information can be obtained through the Multiple Listing Service, (MLS) available to your REALTOR®.
The use of and
access to the information on this site is subject to the terms and conditions
set out in our legal statement.
Listing information is provided for consumer personal, non-commercial use,
solely to identify potential properties for potential purchase; all other
use is strictly prohibited and may violate relevant federal and state law.
All listing information is deemed reliable but not guaranteed and should
be independently verified through personal inspection by appropriate professionals.
Listings displayed on this website may be subject to prior sale or removal
from sale; availability of any listing should always be independently verified.
