Friday, February 27, 2015
Parting with your home to put it up on the market is no small feat, and among the most important considerations you'll have to make is its pricing. How much is your home worth in today's market? How much should you sell it for?
Price is almost always what makes or breaks buyer interest. If you overprice your property, you won't be able to reel in as much buyer interest as you should. Buyers will be put off by its expensiveness. So you have to be realistic and choose a figure that corresponds to your home's worth in today's market.
To determine how much your home is worth, look for a qualified realtor who can provide you with an honest, well-researched comparative market analysis (CMA). The CMA -- or "comps," in realtor-speak -- details similar homes in your neighborhood that have sold within the past few months. The report also contains homes pending sale and homes that were taken off of the market because they didn't sell.
Compare the square footage, number of bedrooms and bathrooms, floor plan, age of construction, amenities, upgrades, current condition, and your home's location within the neighborhood with the properties in the report. With this information, you'll be better equipped to arrive at an appropriate figure to sell your home for.
One should also look at the real estate market to determine price. Learn how to price your home according to the current trends up next, Part 2