Pricing your home correctly is the key to a
quick sale for top dollar.
Real estate agents will tell you the
key to getting top dollar for your home is pricing it correctly.
Price it too high and it will languish on the market. Price it too
low and you could leave thousands of dollars on the table.
Here are three tips to help you
determine your homes market value.
Get A Professional Appraisal:
A licensed, certified residential appraiser is how mortgage
lenders determine a homes value. A professional appraisal will
cost you $300-$350. However some of that money can be recovered.
If you sell your home, the buyer might be interested in purchasing
the appraisal from you and having it assigned to their lender. Be
aware there is both art and science in doing an appraisal. That
means not every appraiser will give your home the same value. If
you do not know an appraiser, we can recommend one in your area.
Get A Market Analysis:
Most real estate agencies will perform a market analysis free of
charge. This is not an appraisal, but the agents best estimate of
your homes value. Be aware: some agents believe that whoever
brings in the highest market value will get the listing. Thus
there is some financial incentive to inflate your homes value.
The Internet: There
are several web sites that let you research home values.
Case
Shiller Weiss Inc: offers a system used by banks across the
country. For $25 they will give you an objective estimate of the
value of your home.
Home
Value Check: For $14.95 you can get a valuation of your home
that includes: the current market value of your property, 30
comparable sales, property tax information and more.
Yahoo:
offers a free service that allows you to research property values
two ways:
- You can search by location and
find all homes that sold on a particular street or find the
sales history of a particular address or
- You can search by price range
for all homes in a particular city.
TIP: Consider using
several sources before pricing your home.
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