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5 CRITERIA FOR PRICING A HOME

5 CRITERIA FOR PRICING A HOME


When you put your home up for sale, strategically pricing a home is the most important and complex part of the process. 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 pricing a home 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.
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RealtorTinaC

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One thought on “5 CRITERIA FOR PRICING A HOME”

  • Take 5: Top Tips for Home Sellers | Tina Cappiello – Florida Realtor

    September 6, 2018 at 1:07 pm

    […] for you to consult with a real estate specialist when deciding what to price your home at (read more about home pricing strategies here). You will need to look at similar homes in the area that have recently sold and review local […]

    Reply

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