Pricing Your Home For Sale
Pricing your home correctly is the key to a timely home sale. Price too high, you get no offers. Price too low, and you leave money on the table. I use the following criteria to arrive at a viable target selling price for your home.
- Sales in your area: One of the biggest factors in pricing is recent sales. My REALTOR® status allows me access to real-time home sales data via the Multiple Listing Service. I see what similar homes have sold for in the last 0 – 12 months in your neighborhood. Similar homes have about the same square footage, were built around the same time, and have comparable features.
- Features: Does your home have a unique feature, like additional living quarters or a swimming pool? If it’s a feature that is in demand, I recommend a higher price.
- Condition: Can people move right into your house or will some work have to be done? Deferred maintenance, like roof leaks and running toilets, don’t necessarily have to be fixed, but they may hinder getting top dollar.
- Other factors: If a new large, company headquarters is being built nearby, I might recommend a higher price since there will be people moving into the area. A dilapidated house on your street might affect your home’s value negatively.
If you are thinking about selling, please call me and I will do a thorough home valuation, complete with a visit to your home and diligence when researching comparable sales in your area. I always discuss the reasoning behind my comparative market analysis.