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Your Asking Price
Pricing
your home is a very important part of the sales
process. Here
are some points to help you figure out how much your
home is worth:
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Forget
about personal attachments to your home.
Buyers don't care how much you paid for the
home, how many memorable moments you and your
family shared in the home, how much cash you
need for the down payment on your next home or
how much time and money you've invested in your
home's hardwood floors, fresh paint, lush
landscaping or other improvements.
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Get
a CMA. Invite a Rush Team member to visit
your home and provide you a "comparative
market analysis" (CMA), which shows the
prices of comparable recently sold homes,
on-the-market homes and homes that were on the
market, but weren't sold. Keep in mind, the
on-the-market homes are the
"competition" for your
home.
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Do
your own market research. Go to open houses
in your neighborhood and try to make an
impartial assessment of how those homes compare
to yours in terms of location, size, amenities
and condition. Assuming all the asking prices
were the same, would you buy your home or
someone else's?
-
Consider
market conditions. Are home prices in your
area trending upwards or downwards? Are homes
selling quickly? Will your home be on the market
in the spring home-buying season or the dead of
winter? Are interest rates attractive? Is the
economy hot or cold? Will you be selling in a
buyer's market or a seller's market? Is the
local job market strong or are employees fearful
of staff reductions? All of these issues
(and many others) contribute to the "market
conditions" for selling your home.
The Rush Team can work with you in assessing the
market conditions and evaluating how your asking
price fits in with current conditions.
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Ask The Rush Team
Real
Estate Tools
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Our real estate guide includes tips on setting your home asking price, setting
an asking price, or your home price.
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