UPDATED 2019
How Not to Determine Your Home’s Value
Settling on a list price for your home is a multifaceted process. It involves knowing the local inventory, studying the comps, and to some degree, an agent’s gut intuition. Winnetka, Wilmette, Kenilworth and other North Shore villages have wildly diverse inventory and seldom are two homes alike.
When I walk into a home for the first time, I leave with a narrow price range that usually ends up being correct. Most local agents work like this and we have the seller’s best interest - even though you may not always agree.
There are, however, things that Do Not Determine the value of your home. Here are some of them:
Zillow, Trulia, etc.
How much you paid for your home
How much you owe on your home
How much you would like to spend on your next home
How much you love your home
The wonderful memories you have had there
What the neighbor down the street says
What your children say
What your cousin who is an agent in California says
Because you think your home is the best one on the street
Improvements (or over-improvements) that you have made
Your decor is lovely
The wonderful compliments you’ve received about your home
It’s not like they show it on television shows such as Million Dollar Listing New York. Real estate agents, unless 
they OWN the building, simply don’t walk in, sit down, and blurt out a price. There is serious thought involved and the myriad of things that you think add value - that do not figure into the process - will only lead to overpricing and a longer market time.
Be sure you’re working with a local agent who fully understands the trends in your marketplace to help you determine the correct list price for your Winnetka, Wilmette, Glencoe, Glenview, or Kenilworth home.
While you're here, please see all NORTH SHORE HOMES FOR SALE
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Margaret Goss is a full-time real estate broker since 1998 working in the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.
She can be reached at:
Phone: 847-977-6024
Email: margaret.goss@bairdwarner.com
See her full BIOGRAPHY
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