How Do You Find Your Home's True Value?

Winn Properties Video Real Estate Blog With Bo Winn

Homes priced incorrectly take much longer to sell.

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Finding the true value of your home and pricing it accurately is extremely important when you're selling.
When pricing your home, consider comparable homes. What have other homes in your neighborhood sold for recently and how do they compare in terms of size and amenities? You also need to consider competition—how many other homes are for sale in your neighborhood? Are you in a hot area or competing against new homes?
You must also consider contingencies. Do you have special concerns that would affect the price you would receive? For example, do you want to be able to move in four months or sooner? Have you already picked out a new home? Are you being transferred for your job?
To determine value, you can also get an appraisal. For a few hundred dollars, an appraiser can give you an estimate of your home's value, but be sure you ask for a market value appraisal. Similarly, you can also ask a lender. Since most buyers will need a mortgage, it's important that a home sale price is in line with the lender's estimate of the home's value.

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Homes priced incorrectly take much longer to sell.

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When pricing, it's critically important to be accurate. Studies show that homes priced more than 3% over the market value will take longer to sell. Also, think about what price you're willing to accept before you begin negotiating with a buyer.
Finally, you want to hire a sharp, aggressive Realtor to help you. It'll be well worth the money in the long run. If you have any questions for me or you're thinking of selling your home, give me a call. I'd love to work with you.