When you put your home on the market for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area.
Look For These 5 Things in a Sales Comparison
Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.
Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.
Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.
Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.
Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.
We're in a Seller's Market!
If you've been thinking about making a move, this may be a good time for you to sell. We're in a Seller's market, inventory is low, and homes are in demand. This means that home values are on the rise.
A Proven Strategy for Getting You Top Dollar...
Call me today, and I'll give you an estimated market value of your home. I bet you'll be surprised to know what your home is worth in today's market. And when you're ready, I will walk you through the process and make sure you get top dollar for your house!
Your friend in real estate,
Farrah La Pan, REALTOR®
Author:Farrah LaPan Phone: 706-504-6691 Dated: June 5th 2018 Views: 58 About Farrah: ...
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