Home Selling Advice for For Sale By Owners

#1) Establishing The Value--Pricing your home to sell

The pricing of a house is a top reason why a house will or will not sell quickly. Although the pricing should not be dealt with lightly, some sellers have a tendency to put too much emphasis on the price and not enough on the condition, ending up with a house that is overpriced for its current condition and the overall market.

Why it is important to get the price right from the start

• If the house is overpriced, it won't sell, no matter if your a realtor or selling real estate yourself.
• If you overprice the house with the intention of reducing the price later just to "see what the market will bear", when the price of the house is lowered, it signals to home buyers that it was (and still may be) overpriced.
• If the house is under priced, it most likely will sell quickly--to the detriment of your net proceeds.

How to set the price

• A comparison of similar properties in the same general area that compares actual sold prices. Click here for an On-Line Home Evaluation Service so you can obtain an accurate report on the value of your home before listing it for sale. Important information to look at is the general location in comparison to your property, sale date related to the current market, price and square footage. It is recommended to review and compare up to 30 comparable properties in real time. Remember that individuals buying real real estate will be looking at similar statistics provided by their research or real estate agents and consider these facts when considering your home.
   
• A professional appraiser can also provide an estimated value on your house. An appraisal will take into account location, condition and sale prices of comparable properties in the neighborhood.