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How to price your home

Published On: Aug 15 2014 10:02:43 AM CDT
For sale sign, home, house

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When selling your house you need to determine your selling price. Use these tips to help determine what price to list your house at.

Think like a buyer: Try to look at your home from a buyer’s prospective and determine how much would an able buyer be willing to pay? Try not to get stuck in the mindset of what you initially paid for the home and how much of a profit you want to make. You need to price your home according to the current market.

Get a couple of opinions: Before listing your home, talk to multiple realtors to get their opinion about what your asking price should be. Also be sure to look at a comparative market analysis of prices of homes around you.

Look around: If there are homes for sale in your area, try to compare your home to theirs. This can help you determine if your listing price should be above, below or the same as theirs. Also determine how long the other homes have been on the market.

Understand the market: Know the state of the current housing market. In a buyer’s market, you might not be able to ask as much for your home as you might like. Be aware of the interest rates and how long you intend on keeping your house on the market.

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