So, you want to sell your home? Be careful how you determine the asking price. Don’t be fooled into thinking that your neighbor has their property properly priced. Someone just told me that they want to put their home on the market and because their neighbor is listed at $419K they think their home is worth just as much. In fact they feel that there house is nicer and worth more. Just because your neighbor is asking $419K for his place doesn’t mean he is going to receive that amount. Start by looking at the recent Sales prices of homes in the neighborhood. This will help determine true market value, which is what a Buyer is willing to pay. Have your Realtor conduct a CMA and discuss it with them. Look at the average days on market, changes in price, the overall condition of the homes, how closely the property resembles yours, the market trend and your competition. If you are still concerned or have a unique property you may find that an appraisal will give you a good starting point to help determine value and where best to price your property.
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