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Seller Tip: Your home is worth whatever a buyer is willing to pay for it
Listing agents get asked all the time by prospective home sellers:  What is my home worth?
While this may sound like a vague answer and sellers do not want to hear this:  Your home is worth whatever a buyer is willing to pay for it.
The seller can choose to disagree with a buyer's viewpoint, and keep their home on the market until the market (one buyer) meets your expectations, and sometimes it works if you wait long enough (sometimes years), but sometimes this strategy does not work.
While there are many ways to look at initial asking prices and potential sales prices, such as (not an exclusive list by all means):
Recent comparable home sales Current competition Analyzing the above via:o   Square footageo   # bedrooms & # bathroomso   Ageo   Geographic proximityo   Condition, features There are many variables that may, should and oftentimes does influence pricing (initial and potential sales price) which sellers and listing agents do not often discuss, or discuss in detail as much as they should.  These variables create complexity, uncertainty and can conflict with each other.  A good listing agent takes all of this into account and should be able to put it into context for a ... more

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