3 Ways to Set a Realistic Price Tag for Your Home
If all locations were equally as valuable, and if all houses were the same, there would be no question as to how to price your home. But that isn't the case, of course. Every home is unique because of location, and home features vary as well. Here are three ways to price your house for sale.
The typical way to determine how to price a home involves looking at recently sold homes as close to your location and home type as possible. Home type includes features like number of bedrooms, bathrooms, and total square footage. When you look at what homes comparable to yours have recently sold for, you get a good idea as to what your home would likely sell for.
Note that you should look at recently sold homes, not homes listed for sale. The former will give you a more accurate picture, as it tells you what actually happened, not simply what someone is asking for the home. Also, you can do this yourself, or if you use a real estate agent, they will perform this service for you. It's called a comparative market analysis (CMA).
Source Fool.com
