CRITERIA FOR PRICING A HOME

You have been thinking about selling your home; and you have a figure in mind for asking price; but will it be the right price.  One of the best ways to determine asking price is to look at comparable sales.  There are rarely a perfect apples-to-apples comparison, so pricing decisions often rely on comparisons to several recent sales in the area.  Here are five criteria to look for in sales comparisons.

1. Location: Homes in the same neighborhood typically follow the same market trends.  Comparing your home to another home in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

2.Date of Sale: It varies by location, but housing markets can see fluctuation in a short time period.  It is best to use the most recent sales data.

3. Home build: Look for homes with similar architectural styles, number of bathrooms and bedrooms, square footage, and other basics.  

4. Features and Upgrades: Remodeled bathrooms and kitchens can raise a home's price, so can less flashy upgrades like a new roof or HVAC (heating, ventilation and air conditioning) systems.  Make sure you are looking for similar "bells and whistles".

5. Sale types:  Homes that are sold as short sales or foreclosure are often in distress or sold at a lower price than they'd receive from a more typical sale.  These homes are not as useful for comparisons.

By doing your "homework" on pricing you can position your home for a timely sale and recieve a great price for your home.