August 6th 2023

Setting the right price for your home is indeed crucial when selling. Here are some key factors to consider alongside your agent:

1. Market Value Matters: What you originally paid for your home doesn't determine its current market value. Market values fluctuate, and it's essential to focus on what buyers are willing to pay at present.

2. Use Comparables (Comps) and AVMs: Look at the prices of similar homes (comps) in your neighborhood that recently sold to get an idea of your home's potential sales price. Automated Valuation Models (AVMs) can provide a starting point but may not be entirely accurate.  This is a time to lean on your agent's expertise at understanding comps.  

3. Involve Your Real Estate Agent: Your agent can provide a more accurate estimate by considering your home's unique features along with comps in the area.

4. Factor in Upgrades: Consider the return on investment for any home improvements you've made. Not all upgrades will necessarily increase your home's value significantly.

5. Leave Room for Negotiation: Most buyers like to negotiate, so leaving some room for flexibility in your asking price can be beneficial. Rounding off your price in $5,000 increments can be a useful tactic.

6. Consider Closing Costs: Offering to cover closing costs while sticking to a higher asking price may attract more buyers, especially first-time homebuyers.

7. Price with Online Browsing in Mind: Be mindful of online search parameters and price your home strategically to capture a broader audience. Small price adjustments can make a significant difference in your home's visibility.

Remember, selling a home involves both emotional and financial considerations. Working with a knowledgeable real estate agent can help you navigate the process and arrive at a price that balances your financial goals with market realities.  Put my 25 years experience to work for you, call/text 609-780-1434 today!