What’s the best way to price a house for sale?
Unlike 99% of homes for sale in my area, my house is truly in mint condition. It was totally gutted, granite and marble added. I could go on and on. Although none have actually closed, several similar houses are for sale in the surrounding area but few are in as good condition. I met with a realtor who suggested listing it about $25k less than the others. She (and I) could not find other comparables that have actually sold recently. She said a bank would not loan a buyer what I wanted to ask. I pointed out that other houses that are not as good are listed much higher ie (no garage when mine has a two car detached), but she said you can’t use asking prices of other houses to determine what to ask for yours. Any advice?
I forgot to mention that the agent wants to list it for $259,000; hoping it will go for $250,000. I appraised in January for $277,000.
Correction – It appraised..
She is most likely correct. No matter how nice your house is you will not get full value if you over upgrade for the neighborhood.
The list prices on homes mean nothing, only sales within the last 4 months.
You should get an appraisal now instead of later. Your agent is 100% correct in that no bank will lend money to a buyer if it appraises for under the sales price. You may get a buyer but not be able to sell the house. You may as well get it figured out now.
COMPDATA Video 1: How To Generate Comparable Sales Reports
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