How Much is Your Home Really Worth?

If you’ve made the decision to move, it’s likely that one of your key goals is to have your current home sell quickly. This could be so that you can use the equity in this property as the down payment on the next. It could also be so that you don’t need to worry about “doubling up” on payments – such as two mortgages, along with the utilities and insurance on both the old and the new homes.

While most people would certainly strive to get the most that they possibly can from their current home, the truth is that pricing for top dollar isn’t necessarily always the best strategy for getting it to move quickly. In fact, in many instances, putting too high a price on a property may even have the effect of scaring good potential purchasers away.

How Much is Your Home Really Worth?So, how much is your home really worth?

One of the best ways of determining this is to have a realtor perform a comparative market analysis on the home. This can be done using recent market data – along with knowledge of the current market place – in coming up with the most accurate figure.

Most agents will compare your home with others in your immediate area that have sold within the past two to three month time frame. Then, other criteria will also be factored in, such as number of bedrooms and baths, as well as a comparison of features that your home may or may not have in relation to those that have either sold, or those that were on the market but did not sell. At that point, a price can be determined.

By coming up with an accurate price, as versus a high price in hopes that someone will come along and simply make an offer, you will have a much better chance that the right buyer will come through the door more quickly.

Thinking about moving? Give us a call. We’ll be happy to provide you with a free market analysis of your current home so that it’s priced right the first time and ready to sell.

2016-06-14T22:42:27+00:00 By |Advice, Home Selling|

About the Author:

I grew up in the Bowie-Crofton area with my 3 other siblings. As the middle child, I have a natural talent for negotiating! I moved to the Annapolis area for several years after I graduated college, and I currently reside in Arnold with my wife, son, and daughter.