What To Know To Price Your House Correctly
If you’re thinking about putting your home on the market, one of the first things you’ll need to consider is how much you can get from it, particularly if the housing market is struggling in your area.
The best information on pricing will come from your Realtor although there are other resources available too.
If you’ve decided to list your home with a Realtor, he or she should be familiar with housing sales in your area. Realtors need quick access to the sale prices of similar houses in your area so you can get an approximate figure. If the Realtor you’re considering for your listing can’t assist you in setting a reasonable and negotiable price – one that doesn’t price you out of a potential buyer’s market, but still leaves you room to bargain – then you might consider talking to another professional instead.
Private sales are also popular because people do not want to pay for Realtors and with lots of research and study on the market in your area it is very achievable.
The easiest way to set a price would be if a similar home has sold in your neighborhood. Many neighborhoods built by developers are filled with homes that are, with a few cosmetic exceptions, the same. If a property has sold there are a few ways of finding out. The easiest way to be friends with the owner and talk to them. Contacting the Realtor or going through old newspapers to find the price is another way. If none of those efforts are successful, sales prices are generally public record and can be researched where deeds are recorded in your locality.
Real estate ads may have similar homes to yours for sale and that is another way of getting price estimates. It is great for an estimate but does not give you a professional comparison between your house and the exact street and neighborhood where your house sits.
The property values can be compared by looking them up in some cases. Many localities now list tax values on line, giving you an easy tool to compare your home with another that you think is similar. They may not be prices but a higher tax value usually means a higher house value. Other information is provided by some localities, things like heat, constructions dates, porches, side features and much more can help you get a better estimate of your house’s value.
If in doubt, price a little high. Negotiating down is easy but asking for a higher price is impossible sometimes you must take the house off the market, wait a little, then put it back up.
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Filed under Foreclosures by Vivian Summers.