Home Pricing 101: How to Find Out What Your Home is Worth

hardwood floors in Port Liberte condoSome people think that their home’s value is a combination of what they originally paid for it plus a little extra based on appreciation and home improvements. Actually, your home’s value is what buyers are willing to pay at the time that it’s listed for sale, or what we in the real estate industry call “market value.”

When it comes to pricing your Port Liberte home, there are a number of factors that determine how you price your home, including how quickly you want to sell and what the current market is like.

It’s always a good idea to talk to a trusted real estate agent about the best pricing strategy for your home, but to keep things simple, let’s focus on the general home pricing guidelines.

What Can I Do to Find My Home’s Value?

gourmet kitchen in Port Liberte condo for saleThere are a few ways to find out how much your home could sell for:

  • Look at past sales
  • Look at current listings
  • Learn more about Port Liberte’s housing market
  • Consider your home’s condition and curb appeal
  • Ask for a comparative market analysis

Sales prices of recently sold properties can tell you exactly what buyers were willing to pay in those current market conditions. However, you may also want to look at current listings in Port Liberte to gauge what kind of interior features or upgrades that homes like yours have. (If you’ve made similar home improvements, your home may be worth more than you think!)

Ultimately, the best way to price your home is with a Comparative Market Analysis, or what’s known as a CMA. Real estate agents use this report to recommend a listing price based on current and past sales, Port Liberte real estate trends, your home’s location, condition, recent upgrades, and more.

Since past sales, current listings, and home improvements don’t tell the whole story by themselves, experienced real estate agents use all of these pieces of data, plus their knowledge of the local housing market, to determine what buyers would pay for your home.

Contact me and I’ll provide you with a free CMA for your home.

What Pricing Strategies Can I Use?

spacious kitchen in Port Liberte townhomeYou have three choices when it comes to how you price your home: at market value, above market value, and below market value. Again, the pricing strategy that’s ideal for you and your unique property depends on your home selling goals.

However, the best pricing strategy is often to list your home at market value. Fresh listings automatically receive the most attention on the Port Liberte real estate market, but the longer they stay on the market, the lower the price has to be to attract interested buyers.

A home that’s priced at market value will not only grab the attention of the most interested buyers, it can also sell for a higher price.

Considering Selling Your Home? Let’s Talk

I would be more than happy to talk with you about what your home is worth and find ways to increase its value. Give me a call at 201.200.5512.

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