Making Sure The Price Is Right
Particularly today, when real estate prices are volatile and the economy is unstable, it’s important to price your home correctly. Even if you’ve hired a realtor to sell your home, it’s a good idea to be knowledgeable and actively involved in price setting. The decision you make will play a critical role in how your experience turns out.
A good starting point is a check of online listings of comparable houses on the market. Find those homes that are as close to yours in characteristics as possible. Age, square footage, lot size, location, type of neighborhood, style and construction material of the home, flooring and number of bedrooms and bathrooms are all key variables. Find out too, how other factors, such as detached garages and school districts play in to your area’s calculations. A fundamental understanding of what “the competition” is up to, will help you have the desired outcome. If your budget allows, hire an appraiser to give you independent evaluation and assess of the condition of your home. Its status as excellent, good, fair or poor will play a big role in what the market is willing to pay. Finally, when it’s time to set the price, pick one just below the general range your prospects are likely to look in. Particularly with the power of Internet search engines, a $199,500 price is likely to generate more activity than a $200,000 listing.