How to Price Your Home

Did anyone say finding a "delicate balance"?  To price your home right you need to know what is really happening in your neighborhood and surrounding areas.  This is not only about knowing what neighbor is selling their home and for how much or what property is in pre-foreclosure but it is also about having actual figures and trends.  For example, how many homes are for sale in your market, what is the listing or asking price, how many days on the market, the final selling price, is it a short sale or not, bank owned or not, how many are competing against your property, what is the market trend and other factors that go into the mix.  These other factors are known to you and are about your urgency and reason for selling and your expectations. Once you have this information you then try to find a delicate balance between pricing it so a buyer will want to look at it...not too high as it will be invisible to the market and not too low since you want to realize as much as the market will bear. 

If you can think of any other important factor(s) to add to the above, please feel free to add your comment.