Setting The Best Price For Your Home

By
Real Estate Broker/Owner with Rummy Dhanoa Real Estate Experts

Pricing your home right is one of the most challenging part of the sales process, too low may mean a loss on your end, on the other hand, you can be at risk of having a stale listing if you price it too high.

If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018. The map below shows the results of the latest index by state.


Real estate is local. Each state appreciates at different levels. The majority of the country saw at least a 2.0% gain in home values, while some residents in North Dakota and Louisiana may have felt prices slow slightly.

This effect will be short lived. In the same report, CoreLogic forecasts that every state in the Union will experience at least 2.0% appreciation, with the majority of the country gaining at least 4.0%! The prediction for the country comes in at 4.6%. For a median-priced home, that translates to over $14,000 in additional equity next year! (The map below shows the forecast by state.)

 

So, how does this help you list your home for the best price?
Armed with the knowledge of how much experts believe your house will appreciate this year, you will be able to set an appropriate price for your listing from the start. If homes like yours are appreciating at 4.0%, you won't want to list your home for more than that amount!

One of the biggest mistakes homeowners make is pricing their homes too high and reducing the price later when they do not get any offers. This can lead buyers to believe that there may be something wrong with the home, when in fact the price was just too high for the market.

Pricing your home right from the start is one of the most challenging parts of selling your home. Once you decide to list your house, look for a local agent who can show you where prices are headed in your area.  



Reference: http://bit.ly/2T88tVu  



www.NYREEX.com 

New York Real Estate Experts Facebook

Rummy Dhanoa - Broker with New York Real Estate Experts

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
New York
Tags:
selling
market
new york
buy
update
state
equity
home
interest rate
home buying
first time buyer
home price
real estate
mortgage

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
105,005

Rummy Dhanoa

Rummy Dhanoa Real Estate Experts
Ask me a question
*
*
*
*
Spam prevention