Here are some helpful guidelines when thinking about selling your home.
Factors that Impact Your Home’s Value:
Market Conditions – the current supply (or inventory) of homes for sale, buyer demand, interest rates and availability of financing, prices of recently sold properties, economic factors and seasonal demand all play a role in pricing
Your Home’s Condition – location, age, size of the home and lot, floor plan and architectural style. Be objective about your home and try to see things from the buyer's perspective.
The Competition – the number of similar properties for sale and their prices, condition, location and financing terms
Factors that Do Not Impact Your Home’s Value:
Original Price – what you paid for your house does not matter to a buyer especially when your purchase was at a high point in the market
Needed Proceeds – Although everyone has an idea of what they need out of the sale, market and your financial needs don't always match up. You'll need to be realistic about where you'll end up.
Opinions – Don't be swayed by what friends and neighbors say your home is worth. Everyone has an idea of value but the market tells us where to price. Comps matter and immediate neighborhood information is also key. Listen to your agent, they do this for a living!
Source: Coldwell Banker Moxi
