House Appraisal and Pricing
The number on the price tag (metaphorically) attached to your home is the most significant
aspect up for consideration when selling your house. If you overprice your house,
interest will dissipate as it languishes on the market. Pricing on the low side,
however, may generate multiple offers.
When you’re trying to come up with your asking price, be sure you and your realtor
look at all the homes in your neighborhood that have been sold over the past three
months. Consider age, square footage, and street, as you want to be sure to make
a fair comparison. Also look at the asking prices for the active listings in your
Once you have gathered the necessary statistics, consider the market conditions.
In today’s buyer market, your asking price should allow for some slack. You may
need to lower your expectations in order to sell in a buyer’s market.