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5 Criteria for Pricing a Home

Thursday, April 18, 2019   /   by Dalila Nava

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.


  sellers, homeowner, homes, goals, listing, selling

JK Realty
Rome Towers
1760 E Pecos Rd, Suite 501
Gilbert, AZ 85295
480-733-8500
Michele Walker
Sr. Loan Originator
NMLS# 821145 | AZ MLO #0929746
BK 0018295 | Corp NMLS #2973
This is not a commitment to lend or extend credit.
michele.walker@wvmb.com
Phone: 573-355-7431
Fax: 480-393-1871

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