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Pricing your home
Deciding your home's monetary worth is a big decision. It is important to first review a comprehensive market analysis in order to get an idea of how much homes are selling for in your neighborhood. When you review the CMA, make sure to compare homes similar to your own in size, number of bedrooms, baths, etc. in order to get an accurate comparison. The condition of your home may also be a factor in determining its value. In general, a home in better than average condition will be listed at the high end of the price range, while homes in less than average condition will be listed at the lower end of the price range. Keep in mind that smaller homes in the neighborhood are usually priced higher per square foot than the larger homes. This is due to cost just to buy the land and is consistant across all neighborhhoods. This is another reason you must compare homes similar in size, age, condition and characteristics to your own...preferably in your own neighborhood.
When pricing your home, it is also important to not only compare homes within your neighborhood, but in other areas of your city. Review the reports for all homes in the same price range as your home. This will give you an idea of your competition in the market place and help you decide if your home is priced to sell in a timely manner. Remember that buyers often look in several different areas before deciding on a home. How well does your home compare to others in the same price range?
Contact me today for a free market analysis of your home.
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