How do I know the right price for my home?

Posted By @ Jul 7th 2013 9:00am In: Posts for Sellers

“How much do you think my home is worth?” This is something every seller wants to know. Finding the right price for your home can be a challenge sometimes, especially if you are getting different opinions on the price.

Every seller has a number in their head that their home is worth to them, it just needs to line up with what the current market conditions are in your area. So how do you choose the right price and what determines it?

The price you paid does NOT determine the value or list price. A home is only worth what a buyer is willing to pay for it. Buyers set the price on each and every home in each and every area. Unfortunately, the amount that you paid for your home has no bearing on that.

Upgraded doesn’t always mean more value. Most of the time an updated or upgraded home is going to fetch a higher sales price, however, keep your upgrades neutral to appeal to a mass of buyers.

Sold homes in the area will determine the market value. Appraisers will use comparable homes in the area that have sold within the past 4 to 6 months. These are the prices that you want to pay close attention to.

Last, but not least, be sure to choose the right agent to get your home SOLD!

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