Pricing Your Home... Consider comparables.†
What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities? ∑ Consider competition. How many other houses are for sale in your area? Are you competing against new homes? ∑ Consider your contingencies. Do you have special concerns that would affect the price youíll receive? For example, do you want to be able to move in four months? ∑ Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your homeís value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute or ask your REALTORģ for some recommendations. ∑ Ask a lender. Since most buyers will need a mortgage, itís important that a homeís sale price be in line with a lenderís estimate of its value. ∑ Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell. ∑ Know what youíll take. Itís critical to know what price youíll accept before beginning a negotiation with a buyer.