5 CRITERIA FOR PRICING A HOME

Dated: 03/19/2018

Views: 49

Image title

When you put your home up 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. Here are five criteria to look for in a sales comparison.

1. 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

2. 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.

3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

4. 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.

5. 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.Image title


Blog credits: http://www.breakthroughbroker.com/5_criteria_for_pricing_a_home#.Wq_Tm9tubIU

Blog author image

Ann Nguyen

Ann Nguyen....

Latest Blog Posts

6 REASONS TO OWN A HOME

In addition to the obvious reasons for owning a home, here are six key benefits of homeownership that can help you decide to buy your own home . Happiness - The feeling of owning your own home

Read More

ORGANIC FOOD ON A BUDGET

Organic food usually tastes better, and is better for you, but it can also be very expensive compared to non-organic products. Organic food can cost nearly 50 percent more, thanks to the extra labor

Read More

CREATE AN EVACUATION PLAN FOR YOUR PETS

An evacuation plan is a necessity for every home, especially if you live in an area where fires, earthquakes, hurricanes, flooding, and other disasters are a possibility. Many homeowners create

Read More

HOW TO CHECK YOUR HOME FOR AIR LEAKS

We’re well into the fall season and winter is right around the corner. This is the time of year when it’s especially important to make sure your home is properly sealed. Air leaks can make it

Read More