When you decide to sell your home, nothing, but nothing, is more important than the sales price you put on it. If you select the right broker, he or she will help you come up with the best listing price. This is not done by looking into a crystal ball. The most important factor to consider is the price of comparable sales in your immediate area. These are sales which have already been completed of homes as nearly like yours as possible. Remember feelings are irrelevant to market value. Don’t overprice!
The home selected for comparison should be geographically near. No one factor determines value more surely than location. The sales should also be recent, within 6 months if possible. Five-year-old sales have almost no meaning in today’s volatile financial market. Also, the homes should be as similar as possible in style, size and condition as your property.
Don’t pay much attention to neighborhood scuttlebutt about selling prices. Sellers often exaggerate the amount received, and buyers often minimize the amount paid.