Pricing your Home

This is a list from the Washington Post on tips for pricing your home when selling:

• Don't base the price on what you paid or what your neighbor got a few years ago.
• Do examine the prices of homes for sale in your neighborhood, as well as the prices of comparable homes that have sold in the past three to six months.
• Don't pick an agent simply because he or she suggested the highest list price.
• Do pick an agent who offers a thoughtful explanation for the price he or she is suggesting.
• Don't go overboard with remodeling. Rarely can you recoup the cost.
• Do make minor improvements so your home is in as good as, or better, shape than the competition.
• Don't set your price based on emotional attachments and cherished memories.
• Do ask your agent to reassess the competitive landscape every few weeks to make sure your asking price is in sync with the market.
• Don't be stubborn. If weeks go by without any offers, the price most likely does not reflect the value of the home. It's time to consider cutting the price.
• Do be patient. You might have to wait longer for buyers to pull their money together now that lenders have toughened their standards.
— The Washington Post

Please feel free to contact me if you have any questions or want further advice on prepping your home for sale in today's market.