Pricing a Home

With our flat fee listing we will send you out the same MLS data that appraisers and real estate brokers use to determine home values for no charge.  We will also answer some quick questions.

The process I will describe now is the same way real estate agents or an appraiser would figure out what a property is worth.

The first thing you want to do when figuring out where to price your home is to review what other similar properties (comparable properties or comps) in your neighborhood have sold for in the last six months.

Ideally the comparable properties have sold recently, are in close in proximity to the home you are trying to sell and have the same number of bedrooms.

The next step is to account for differences between the 2 homes that would affect the value.  Things like having a garage versus no garage or one property having an upgraded kitchen versus another whose kitchen is 20 years old.

The real trick is in deciding how much of adjustment to make for an outdated kitchen or bath.  One thing to keep in mind about pricing is that you never get back 100% on whatever upgrades you have done.

For instance if you upgraded your kitchen for $30,000 you may get 80% of that back in resale value.

Another option is to have a couple of traditional real estate agents come in and tell you what your home is worth and of course pitch you on hiring them to sell your home.