When listing your home for sale, it is critical to set the correct listing price. All of your hard work preparing your home to look perfect when it goes on the market will be for naught if you don’t price it correctly. If you overprice it, it will sit on the market. If you price it too low, you risk losing a lot of equity.
The honest answer to how much your home is worth is what someone is willing to pay for it on the open market.
While market conditions will determine how much your home sells for, a more precise method of determining the list price is required to ensure that your home sells quickly and for the highest possible return on your investment.
A comparative market analysis of your home’s current market value performed by an experienced local Realtor, like The RED Team, is the most accurate estimate of what your home will sell for once it is listed. In a comparative market analysis (CMA), the agent will compare your home to recent sales of similar homes in your area and make adjustments for any major differences.
Pricing based on real numbers is the way to go; otherwise, reality may bite if you rely on dubious alternative pricing methods.