When the house around the corner sells, curious minds want to know the sale price and how that may influence what your own house is worth.
There are many factors that can impact the sale price of a home, but here are what I consider the biggest ones:
Recent Sale Prices of Comparable Homes – a careful and studied look at recent home sales in a neighborhood and/or of comparable homes elsewhere is a first step in evaluating price
Neighborhood – schools, local amenities and crime rates are all factors buyers will consider in deciding where they want to live
Location – even within a popular neighborhood, some streets/spots are more attractive and others less desirable. For instance, is there a power line in your back yard? Are you on the busiest street or on a quiet cul de sac?
Updates, Features and Amenities – here’s a big one. Two homes of similar square footage, side-by-side on a desirable street can sell for vastly different prices if one is updated and the other is not.
Motivation – this is the hardest factor to assign a dollar amount to. Bottom line, if a buyer has long considered a house his dream home, he may be willing to offer more than he should for it. Conversely, an unmotivated seller who is not in a hurry to sell her home may intentionally overprice it. While challenging, I have found that a well-reasoned, fact-driven discussion can break the logjam in both situations.
If you are thinking of selling your home, we will need to discuss other factors that may influence the price and marketability. We can also strategize about things you can do (as well as shouldn’t do) to maximize your return.
Give me a call or send me an email to start a more detailed discussion about your unique situation. I look forward to chatting with you!
Cell: 864.313.8363, Email: [email protected]