How to Set Your Home's List Price

Determining the best asking price for a home is one of the most challenging and important aspects of selling it. In fact, it’s a balancing act. You don’t want to set a price that’s so high that it discourages showings and serious offers from the very qualified, motivated buyers who would ultimately determine your property’s top market value. On the other hand, you don’t want to set a price that’s so low that it attracts lots of interest but sets the stage for offers and negotiations that could result in your getting less than the market would support if you were a little more aggressive. So, What’s Your Home Really Worth?

In a perfect world, your home’s value would be everything you think and need it to be. Perhaps you have specific financial goals, or you’ve just made an offer on another home that’s dependent on selling your home at a certain price in a given time frame. However, simply put, your home’s value is not determined by you, but by what the market is willing to pay for it at a given time.

Many factors contribute to the market value and pricing of today's properties, including:

• Age of home
• Condition (Has it been maintained or upgraded? Does it need a new roof?)
• Neighborhood or location
• Fixtures and cabinets (Does it look dated?)
• Systems (How are the heating/air conditioning units and plumbing?)
• Number of bedrooms/baths (Is it comparable to other homes in the area?)
• Supply and demand
• Comparable market pricing

These are just some ways a true up-to-the-market analysis of your home can be made. If you'd like to know how much your home would sell for in today's market, give me a call. I can pull a comparative market analysis for you at no cost!