What is Your Home Really Worth?

Sometimes it is a buyer’s market, and when that happens, you have to up your game to sell your house quickly. You may have sentimental attachment, think your neighbourhood is a major selling point, or other ideas that are making you estimate your home at a much higher value than it will sell for right now. You may need an unbiased opinion to help you realise the value of your home. So, what is your home really worth? To keep your property competitively on the market, take some of these steps to list your house at a price that will have buyers making offers immediately.

  • Use available comps. Comps, or comparables, are what appraisers use when assessing the value of your home. Many real estate websites all you to check out similar in homes in your neighborhood or those like it to compare what price they have recently sold for. These numbers can give you an idea for how much money to list your home.
  • Try the “99” philosophy. It may seem ridiculous but some home sellers will swear by the idea that any price ending in “99” will seem more appealing. For example, a price of £399,000 may appear more reasonable than £400,000. Price your home using an odd number as opposed to even and chances are you’ll have an offer soon.
  • Don’t ask for the top value. Your home may have appraised high and be in a much sought after neighbourhood, but if you price too high it may intimidate potential buyers. When a property is listed at the high end some may think a lower offer will automatically be refused. To prevent scaring off buyers price your home somewhere in between the lowest you would take and the highest value.
  • Listen to your agent. Your agent is constantly monitoring the market and knows what homes are selling for. If your home has been listed for some time and you have been unwilling to compromise it may be time to seek out an agent’s advice for adjusting your asking price. Sometimes even a subtle price drop is enough to motivate a buyer to make an offer.
  • Pay for an appraisal. While you may not want to spend the extra money an appraisal can give you an idea of what a mortgage lender would approve for your home. If you have your home appraised you will know exactly where to start pricing your home for an aggressive sale.

For more information on pricing your home, contact Doorsteps today.

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