The Right Price Tag: Home Value Strategy
Selling clothes, trinkets, or furniture items at your garage sale isn’t necessarily stressful when it comes to pricing your items.
Listing your home for sale – well, that’s another strategy. Zeroing in on the value of your home is an important part of the selling process – you don’t want a price too low or too high. Using AmeriTitle’s Seller Checklist can help sort out confusion you may have.
Here are some things to consider when determining the value of your home (aside from having an appraiser view your property):
Current Market Conditions
A seller’s market will have: low inventory, high demand, homes selling above listing price, and multiple offers.
A buyer’s market will have: high inventory, low demand, lower offers, and price reductions.
Are you willing to stick it out and wait for the offer you’re really looking for, or are you willing to accept a lower selling price to move your home quickly?
Consider amenities, upgrades, updates, view, and curb appeal.
Similar Home Prices
An appraiser will generally look at similar homes that have sold in close proximity in the last 45-90 days. You can also look at sales in the last 12 months to get a pretty good idea of where your home stands.
If you’re still confused or hesitant, talk with your real estate agent for a Comparative Market Analysis (CMA), and don’t forget to talk with an appraiser.
Ultimately, you (the seller) will price your home. You just need to be armed with the right information first.