Home selling process: How do you determine the price of your home » Diane McConaghy Team

Home selling process: How do you determine the price of your home




If you’re considering selling and aren’t sure how to price your home, or you’re considering buying and want to know what to offer on a home, then this video will help.
 
CONSIDERATIONS: 
Here are a few things to consider.  Location, Age, Size, Condition. All of these have a huge effect on the price.
 
LOCATION
Are you in a great location close to freeways and shopping?  How does your area compare to others? Are there any nuisances like power polls, heavy traffic, or anything else that could be considered undesirable?
 
AGE
Would you compare a home that was built in the early 1900’s (which is very prevalent in Western Pennsylvania) to a home that was built in 2021?  You need to compare the age of the home just like an appraiser would.
 
SIZE
Let’s say your home is 1,500 square feet.  Do you think you could compare this to a home that is 4,000 square feet.  That would be like comparing a maserati to a Pinto.  In many cases if there is not enough inventory, an appraiser may go about 10% above or below the sq/ ft. difference to use as comparables to determine pricing.   They will make adjustments in their evaluation of what the home is worth based upon the difference in size.
 
CONDITION
Now let’s think about Condition.  Again, think about this in relation to a car, you can’t compare a beat up old hoopty to a brand new shiny car, right?  Well a home is the same.  When pricing you have to look at things like, how upgraded is your home, how modern is it, what is the landscaping like and so much more.
 
Remember, when pricing, it’s natural to feel like your home is worth more than everyone else’s because we have an emotional attachment to it. That’s normal.   But you’ve got to look at all the variables because underpricing your home will cause you to lose money and so will overpricing your home.
 
My team has sold Hundreds of homes over the past 8 years, so we know exactly how to price them.  We’re all about Moving Right Along and as always, we would love to serve you. 
 

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