At What Price Should I Sell My Home?

If you're planning on selling a house, you'll have to decide what price you're going to ask for the home. This is one of the most important and difficult decisions you'll have to make. Buyers select by comparison shopping, so your home will have to have a fair market price in order for it to sell.

Setting the list price for your home, you should be aware of a buyer's frame of mind. Based on a list of houses for sale in your neighborhood (which can be in the form of a printed list from me, or online search results that you've found yourself), buyers will determine which houses they want to view.

Consider the following pricing factors:

Using Comparable Sales

No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours

I can furnish data on sale figures for those "comps", and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales I bring to you, along with data about other houses in your neighborhood presently on the market, is used for a "Comparative Market Analysis (CMA)." To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices.

This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by me and may include properties currently listed for sale and those currently pending sale.

In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.

Remember, your home is only worth what someone is willing to pay for it. By working with a qualified real estate professional, you can ensure that your property will receive the needed exposure to attract interested parties who are willing to make an offer. For FREE help and guidance in selling your home, call Marchel Peterson directly at 281-351-0888.