For example, a home recently sold that was seemingly $100,000 overpriced. Comparable homes were selling for about $525,000 to $550,000. However, home prices in the area were increasing rapidly. Nothing similar was available for less than $650,000. The seller owed $650,000, so they priced the property at $699,900. And guess what? It sold three months later for $674,000.
HOW TO PRICE YOUR HOME IN A BUYER'S MARKET
Is your local market a buyer’s market — one where the supply of homes for sale exceeds demand, or where prices are abnormally depressed? If so, then look at all the other homes for sale and make sure your home is priced competitively. If your home isn’t selling, you’ll need to adjust the price until it sells.
HOW TO DETERMINE YOUR HOME'S EXACT VALUE
There’s more than one way to find out the value of your home. You can use the following method by itself. However, a combination of some or all these suggestions will probably give you the best pricing direction. Hire an appraiser: One way you can get an accurate valuation is by consulting a professional. Many appraisers will charge hundreds of dollars to give you a reasonably accurate home price estimate. Let me help you: Do you know there’s a simple way that’s 100% free? As an agent, I have access to the same information. I’d be happy to put together a Comparative Market Analysis (CMA) for your home!
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