A few tips to help you price your home to sell quickly and for top dollar.
The real estate market has been crazy lately—there hasn’t been a lot of inventory to choose from, and buyers have been paying well over list price to secure homes. If you’re getting ready to list your home soon, how should you price it? Today I’ll share my tips to help you price your home to sell for the most money possible in this hot market.
First, look at the comparables. This is something that almost anyone can do. An agent can set you up with a search for similar properties that have sold in your area to see what prices sellers have been getting. Data on the MLS will be more useful than any other real estate site like Zillow or Realtor.com. During your search, here’s what you should be looking for:
1. Location. It’s important to look at homes in a very tight radius around your property.
2. Square footage and age. These factors can make a huge difference. For example, in my community, homes built after 1990 have high ceilings in the basements, and homes built before then tend to have low ceilings. Keep in mind that it’s hard to compare a house built in 1971 to one built in 1995, even if they have similar square footage. In our area, square footage is typically calculated based on the first and second floors without including a basement.
3. Condition. This is the most important factor when it comes to valuing your home. What state are your house’s most critical areas in, like your kitchen and bathroom? Do you have any deferred maintenance? Do your yard and exterior have good curb appeal? How old are your roof, furnace, HVAC systems, etc.? If your home isn’t in good condition, you need to price it accordingly. People in our crazy market have been overpaying for homes that need some work done, but that trend will end. You might even consider pricing it a little under market value to make it more attractive to buyers. If it is in good condition, however, you can likely price your home at the top of the market.
4. Timing. Consider the timing of your sale. Interest rates are on the rise, so your buying pool may get smaller over time. In our market, homes that are listed before the start of the school season are really popular, so listing your property after that date could bring your home’s value down.
I can’t overstate how important it is to price your home correctly. If you overprice your house and the market begins to go down, you could be stuck with your house on the market for a long time. Homes that stagnate on the market are almost always overpriced or have major issues that scare buyers off.
I would love to help you price your home to sell for top dollar. Visit www.MeetKati.com to schedule your appointment, and I’d be happy to come out to your property and give you some free advice about how to value it appropriately for the market. I hope to hear from you soon!