In the current market we are all a little baffled about how to set a price when we sell our home. On one hand we can look at historical data collected on other homes in our area that have sold recently, and we can compare those statistics to the home we are planning to sell. The number of bedrooms and bathrooms, as well as the overall square footage of the home are significant areas in which to compare homes that have already sold with homes just going up for sale. Comparing our house for sale to other homes currently on the market may not be the best way to know how to sell a house.
Looking at the listing price of homes currently on the market only tells us one thing, which is one price the seller would be willing to accept. However, there may be another, lower price the seller would be willing to accept. Although you might think this goes without saying, it is really worthy of mention because for the most part, people don't talk about their "bottom dollar" price, even when they are directly asked. So, you don't have access to what's in the mind of your competitors, meaning the sellers of homes similar to your home. You simply don't know what they are thinking.
When we sell a home we have to gather enough information to make some educated guesses. We have to collect sales information from the county assessor's office or website online, which is the same thing that appraisers do in order to provide a professional appraisal for homeowners and lenders.
Appraisers have a much more complicated system and a lengthy process to arrive at their conclusions, but the average seller can do a pretty good job of piecing together the same public information in order to arrive at a good asking price. It isn't hard to come up with at least three comparable properties that have sold recently in the same area where we intend to sell our home. If we use those three and give serious consideration to market trends, meaning upward or downward, then we have the information we need to set an asking price that works.
Just don't go overboard and compare your frame home to homes with a brick exterior, or your two bedroom home to those with three bedrooms. Those are significant differences that represent a distinct variation in value, so choose comparable homes as similar to your own house as possible.
Looking at the listing price of homes currently on the market only tells us one thing, which is one price the seller would be willing to accept. However, there may be another, lower price the seller would be willing to accept. Although you might think this goes without saying, it is really worthy of mention because for the most part, people don't talk about their "bottom dollar" price, even when they are directly asked. So, you don't have access to what's in the mind of your competitors, meaning the sellers of homes similar to your home. You simply don't know what they are thinking.
When we sell a home we have to gather enough information to make some educated guesses. We have to collect sales information from the county assessor's office or website online, which is the same thing that appraisers do in order to provide a professional appraisal for homeowners and lenders.
Appraisers have a much more complicated system and a lengthy process to arrive at their conclusions, but the average seller can do a pretty good job of piecing together the same public information in order to arrive at a good asking price. It isn't hard to come up with at least three comparable properties that have sold recently in the same area where we intend to sell our home. If we use those three and give serious consideration to market trends, meaning upward or downward, then we have the information we need to set an asking price that works.
Just don't go overboard and compare your frame home to homes with a brick exterior, or your two bedroom home to those with three bedrooms. Those are significant differences that represent a distinct variation in value, so choose comparable homes as similar to your own house as possible.
About the Author:
Countless property owners are now searching for methods to sell a house
quickly for cash without having fees or closing costs. Leo Kingston,
proprietor of 18002SellHomes, now offers household owners a
straightforward method to sell a home for cash in 30 days.
quickly for cash without having fees or closing costs. Leo Kingston,
proprietor of 18002SellHomes, now offers household owners a
straightforward method to sell a home for cash in 30 days.
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