Super question and the most important question a seller should ask. Pricing your home at the right price can almost guarantee that a buyer will snatch up your home quickly while pricing it wrong can cause your home to sit on the market for months with not so much as a showing.
Research is key. Call your Realtor for a free Market Analysis. A market analysis is a detailed report providing market value information by comparing your home to similar properties that have sold within the last 12 months and a comparison to homes currently on the market. No home is identical to yours but my goal when doing a market analysis is to find homes most similar to yours, with a location as close to yours as possible and with amenities similar to yours. There are adjustment factors for square footage differences, differences in features etc. Once I’ve made my comparison, I have a price range for which I believe your home will sell. I will present this to you and give you the opportunity to determine where in the range you’d like to price your home.
The next step is determining your level of motivation….how quickly do you want your home to sell? If you list your home at the top of the market, be prepared to be patient. If you list it at the bottom of the market, you will certainly get showings and you’ll more then likely sell your home quickly.
There are also costs associated with selling your home so make sure you know what those costs are (Yes, I will have a Blog coming soon with the costs associated with selling a home……so stay tuned!) and know what your mortgage pay-off is. These numbers will give you the whole picture of what to expect when your home sells.