5 CRITERIA FOR PRICING A HOME

Dated: 09/14/2018

Views: 165

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.

Blog author image

Kim Maxwell

Kimberly Maxwell, a fourth generation in Walton County, knows the community and its wonderful lifestyle firsthand. Although she was born in NYC, moved to NC in her high school and college years, her m....

Latest Blog Posts

New Gym In Santa Rosa Beach

So maybe this post has little to do with Real Estate, however, It's another step in the right direction for helping our kids and teens explore new activities in the area.  We used to Drive

Read More

Watch Out For Falling Price On Seascape 3BR

Want to see the lowest priced 3BR in Seascape this weekend?   Call a Local today to schedule your private showing, you'll be glad you:)

Read More

Move To Florida

Study: Florida No. 1 in Welcoming New ResidentsLendingtree.com: In 2016, new residents brought $30.2 billion into Fla., with about 72% of that increased income coming from new residents age 55 and

Read More

Recent Google Review For Murray Balkcom

Most Recent Review on Google:"I can not say enough about what an amazing experience we had with Murray as our agent. He really is the best. We worried for nothing during the entire experience. He

Read More