When we initially speak with our sellers, we always ask them what they think their home is worth. Every seller has a price in mind, whether it’s right or wrong. To price your home correctly, there is a process you need to follow; if you price it too high, you won’t receive as much traffic and your listing may end up stagnating on the market.
One of the first things we’ll do when we sit down to talk about your plans with you is have an appraiser compare your home to similar homes in your area to determine a price. They’ll make adjustments for the differences in amenities between your home and the other neighborhood home.
You can’t just put any price you want on your property. If the market analysis appraises your home at $200,000, for example, you could probably price it at $205,000 or $210,000 and the market will determine whether or not your price is tenable. It is important to price it close to the appraised value because if the appraiser can’t see the value you’ve given it, they might appraise it much lower than you want.
All in all, now is a great time to buy or sell a home! If you have any questions about today’s topic or real estate in general, let us be your resource. Reach out to us today!