Home Pricing Criteria

Dated: 03/11/2018

Views: 151


5 CRITERIA FOR PRICING A HOME

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

  1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

  2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

  3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

  4. Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

  5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.




Blog author image

Justin Johnson

When you call Justin Johnson you will reach him almost every time. Justin specializes in listing homes for sale often (equity) traditional sales, short sales, foreclosures, probate and divorce sales h....

Latest Blog Posts

Make An Offer Like A Boss

Make an Offer Like a BossBy: Justin JohnsonThese 10 money- and time-saving steps can help you craft a winning bid.Ah, the offer!Know Your Limits | Learn to Speak "Contract" |;

Read More

Tax Deductions For Homeowners How The New Tax Law Affects Mortgage Interest

Tax changes for 2019 change the landscape for homeowners.Tax season is upon us once again, and to make it even more interesting this year, the tax code has changed — along with the rules

Read More

7 Signs You Have A Drainage Problem

You don’t have to be a geophysicist to know that puddles in the basement or a lake on the front lawn are signs of drainage problems.But many drainage problems aren’t so obvious. Here’s how the

Read More

VA LOAN LIMITS ABOLISHED WHATS THAT MEAN

A new law eliminated VA loan limits. But, what does that mean?Under the recently enacted Blue Water Navy Vietnam Veterans Act of 2019, the existing caps on the value of all VA loans nationwide will

Read More