Determine the True Worth of Your Home
7 Steps to Pricing Your Home to Sell!
What’s your home worth? The answer to this question will help you make important real estate decisions such as refinancing, expanding, procuring a HELOC to make home improvements, and/or downsizing. Knowing what your home is worth can even help you determine if it’s time to sell.
A great place to start and far more accurate is an appraisal which is the process of developing an opinion of value, for real property.
Do your homework and consult with a hyperlocal career Realtor (Me!!) who transacts a high volume of homes in your neighborhood.
To provide exceptional accuracy, your Realtor must visit your home, look at your land, home finishes, and assess the home’s systems. Otherwise, you can likely expect to have issues when selling-to include delays in closing or notable post inspection obstacles.
Review the area’s market assessment provided by your Realtor. Look at each home as a comparable to help you lock in your home’s value.
Look at the current “Active Market” of competition. Your “current” competition will help you further dial in where your home sits on the active market “now.”
Any doubts in your comparison? Visit the competition so that you set correct pricing from the beginning.
Don’t build in too much negotiation room. If your home is “market ready” price it at the top of market range, but not so high you simply won’t get any views or offers. All buyers use “Search” gateways (usually in 25k incrememts) to view homes online first. If your price is initially set too high, you will miss an entire pool of buyers and or simply not get the viewings.
Pricing a home is not Set & Forget procedure. Have a plan for when your home comes to market to ensure it moves in a timely manner (ideally 2-4 weeks depending on your personal hyper-focused market).