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The Market Determines the Price of Your Home
When going on a listing appointment, I know the #1 question the sellers want to ask me:
“What price do you think we can get for this house?”
 
It sounds like a simple question—but there are so many factors that can affect pricing, it’s not an easy one to answer.
 
 
Ultimately I tell sellers:  the house is worth what the buyer wants to pay for it.  The market determines value.  As sellers, you can influence and control value to a certain extent—but if the housing market crashes next week, your house will probably be worth less.  The house pictured to the left sold for over asking price!
 
There are several steps to determining a price range.  I make sure sellers are familiar with:
*recent sold properties.  What are the updates in those properties, how does the location compare, is the house larger or smaller?  How’s the curb appeal?  Are the mechnical items newer?
 
*pending sales nearby.  When these homes close, they will be comps for your listing.
 
*on market homes.  I stress that buyers are not just looking at your home—they are looking at 5, 10, 20 other homes and comparing all of them.  How does your home stack up to the competition?
 
*price per square foot.  A breakdown ... more

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