|Setting a Fair Price
Naturally, you want to get top dollar for your home.
But, at the same time, you don't want to scare off potential buyers with
an asking price that's too high.
Setting a price above market value may cause your
property to remain on the market for many months with very few offers.
Reducing your asking price later on may lead buyers to wonder if there is
something wrong with your home. Here are some of the factors to consider
in pricing your home.
- Your location
- Economic conditions
- Supply and demand in the local housing market
- Seasonal influences
- Local schools
- Average home prices in the neighborhood
- Your home's extras -- pool, fireplace, central
To determine the value of your home, you probably
will want the advice of a real estate agent or appraiser. Ask an agent to
prepare a market analysis for you, showing the recent selling prices of
three neighborhood properties comparable to your own. The agent can help
you adjust for the unique features of your own property.