Tips For Pricing Your Home

By
Real Estate Agent with REALTOR, ABEK

Tips for Pricing Your Home

  • Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?
  • Consider competition. How many other houses are for sale in your area? Are you competing against new homes?
  • Consider your contingencies. Do you have special concerns that would affect the price you'll receive? For example, do you want to be able to move in four months?
  • Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home's value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute or ask your REALTOR® for some recommendations.
  • Ask a lender. Since most buyers will need a mortgage, it's important that a home's sale price be in line with a lender's estimate of its value.
  • Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.
  • Know what you'll take. It's critical to know what price you'll accept before beginning a negotiation with a buyer.

This has been Reprinted from REALTOR® magazine (REALTOR.org/realtormag http://www.realtor.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

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Rainmaker
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Simon Mills
Mills Realty - Toluca Lake, CA

The key to this is pricing your home UNDER what the most recent comparables are.  In a declining market with a reported 12 month supply you need to be aggressive in your pricing or your home will sit around and become stale.

Aug 25, 2010 01:23 PM #1
Rainmaker
305,069
David Stewart
REALTOR, ABEK - Slidell, LA
Slidell Homes - New Orleans Homes

Couldn't agree more!

Aug 25, 2010 01:30 PM #2
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Rainmaker
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David Stewart

Slidell Homes - New Orleans Homes
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