How to Know Your House is Priced Right
Right now in real estate, it’s a seller’s market.
A recent Redfin Housing Report found that 36% of homes for sale sold above the list price, and the number of homes on the market was down nearly 50% year over year. In this environment, it may be tempting to price high, but this can work against you if your home doesn’t sell quickly.So how do you determine the appropriate price?
You can start by stepping back in order to objectively and thoroughly assess the current state of the market. This involves research and some number-crunching. To get an accurate comp, you must focus on properties with similar characteristics to your home. If your house is showing a little wear and tear, comparing it with a newly built home around the corner serves little or no purpose.
Reputable and experienced agents with intimate knowledge of the area are invaluable when you are trying to determine the right price for your home. They can help you objectively evaluate the market and prevent you from overpricing or underpricing your house. You want someone who is going to offer honest opinions and steer you in the right direction. It’s important to take the time to find an agent who you feel you can trust completely.
Do your due diligence and interview several agents before making a decision. Ask friends and family members for their recommendations.
Article source: Forbes.com