As Realtors®, we are always asked this question. The simple answer - it depends on so many things.
Working with a client who will be listing their home next month, comps were pulled and values were discussed. However, the caveat here is that the values we discussed this month are just that - this month's prices. If you were listing your home today, we have a good idea of value. However, because you're taking a 3 week trip to England in October, will have two dog sitters in your house while you're away and won't have easy access to the internet, we've decided to wait until you come back from England to actually place your home on the market. What will be your price then? I'll re-pull the CURRENT comps then, and we will revisit the price.
So, today, more than a month before we intend to list the home, I received a phone call. The future sellers talked to their neighbor and their neighbor is going to put their home on the market next month as well. They are going to list it over $350,000 
more than we discussed. Well, the house is twice as large, has a 1000 Sf guest house and a pool which you lack. She then went on to say that the home on the corner just went on the market today as there's a for sale sign outside. Okay, looked up that - not yet in MLS, probably later tonight. And, it's over 800 SF smaller than your home and 14 years older. Again, not a comparable property.
My advice, take your much needed vacation and let's worry about pricing when you get back at the end of October, when we will compare like properties to like properties - those of similar size, age, lot size and amenities. Those are the true comps.
In the mean time, enjoy your vacation.
Comments(24)