Pricing Your Home to Sell

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Often times people want to know specific things that can have an impact on the price they will be able to list and/or sell their home for.  Below are the most impactful factors when pricing your home to sell.

LOCATION

Location is the most important factor in determining the value of your home as it is the one thing that a potential buyer cannot change.  School district, neighborhood, and your lot are also other important factors to a potential buyer.

CONDITION

How well the property has been maintained can also affect the price that a potential buyer is willing to pay for your home.  A buyer is willing to pay more for a home that will require less intense upfront maintenance.

COSMETICS

It is important to highlight any major cosmetic updates you have made to your home in the last 5 years.  Buyers are always in search of updates and are willing to pay more for homes that have them.

COMPETITION

Buyers are going to be comparing your home to other properties that are available or currently pending.  The will also use recently sold homes as a benchmark for what the current going rate is in the local market.

TIMING

Property values are affected by the current real estate market.  It is important to know if the current market is a buyer’s market, seller’s market, or balanced market.  A seller’s market would be when there is limited available inventory on the market.  Additionally, timing is important in the appraisal process as appraisers will only look back six months to consider the value of your property.