You lived in your Toluca Lake, Hollywood Hills or east San Fernando Valley home forever. You've been a proactive homeowner and kept up with repairs and upgrades. You love your home and neighborhood to this day but life has changed and you've ultimately decided to sell.
Since your home has the "best location in the subdivision" and the biggest lot (by a few sqft) and extra storage, surely your home will garner more for its sale than the Smith's home down the street did 6 months ago. Beside online portals like Zoolia "estimate" your home's value at $200K over actual local comparable and the real estate Agent whose constant mailers you surely receive says he will put it on the market for the exact price you want. Here is where you must STOP! Take a breath, open your eyes and know this in order to avoid the Home Seller's Kiss of Death: The market sets the price. Yes, the market sets the price. I will explain how that works in Part II.