Determining the right sales price

Determining the right sales price is the key factor on selling your home. You should always try to be the best deal in the neighborhood in order to sell in a reasonable time frame. You should also find out information on the current sales in your neighborhood. You can access this information by going to your local county courthouse at the property appraisers office or tax roll information. You can also try researching on the Internet under your specific county using the search terms property appraisers office or tax deed information.
Drive by some of the properties that recently sold (comparables) that compare to your property. Some of the comparisons that you should consider are location (house backing to main street vs. house on interior lot), square footage of the home (which is very important), improvements/condition of the home, and view (garden view vs. golf course view).
You can also determine the price by paying for a professional appraisal. The appraiser will determine the value of your home by comparing sales in your neighborhood as well.

Supply and demand:
Now that you gathered this information we will explain supply and demand.
PRICE is important and is better determined by comparing your home’s condition with neighboring sales. If there is another home similar to yours for sale in your area, and appears to be a better deal by Price or Quality and Condition of home, then that home will be a more desirable purchase to a buyer than yours. THUS, pricing your home correctly to begin with is very important for a successful and quick sale.

• A property that is in wonderful condition with many upgrades that are generally acceptable to most buyers could be priced higher than a home that is in worse condition.

• A home in poor condition that needs paint, carpet, or new roof should be priced lower than homes without these problems.

Example: You and your neighbor three houses away have the same square footage and similar location. The neighbor’s house is priced at $150,000. Which is priced $5000 more than your house. Your house has outdated flooring and an older roof than your neighbor’s house. Your neighbor’s house has newer roof and the interior is completely renovated. Obviously, a buyer will lean more towards your neighbor’s house than your house even though there is a slight difference in price due to the condition of the homes.

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