I am thinking of selling my home. How much is my home worth?
In today’s up and down real estate market, there is no pat answer to that question. The basic answer is, your home is worth what the market will bear, or in other words, it’s worth what someone will pay for it.
What does that mean? As a real estate professional, I will analyze comparable sales in your neighborhood. This will give us a base to value your home. From that point we look at upgrades and improvements that make your home different from other homes in your neighborhood. We look at the current inventory in your area and we track current real estate markets.
There are several online sites where you can put in your home’s address and get a ball park value for your home, but this is a very generic way of valuing a home. When we estimate the value of your home, we like to give you a value range. It is an educated guess on our part, nobody can tell you exactly what someone is going to pay for your home.
You want to avoid pricing your home too high. Home prices are on the rise, but most homes that sit on the market week after week are there because they are priced too high. Pricing a home in this flexible market is a very important step in the real estate process. You may not get a second chance at that perfect buyer, so choose your real estate professional wisely. The one that estimates the highest price for your home is not always the one who will get your home sold.
