Tips for Getting Top Dollar
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How do you price your home to sell in a buyer's market? Here are some points to keep in mind:
¿ Don't panic. Houses sell even in areas with high inventory if they are realistically priced and in good shape.
¿ But don't be greedy, either. In a buyer's market, you can't expect the double-digit-percentage appreciation common just two years ago. Unfortunately, you might not be able to get as much as you paid if you bought recently.
¿ Find good comparable sales, or comps. The best comps are houses with similar styles and upgrades close to your address that sold recently. Zillow.com says, "[I]deally, homes in developments should be compared against recent comps from the same development since these homes were all built together at a specific time, by the same builder/developer."
¿ Check with real estate agents for their opinions. The rule of thumb is to ask three agents for their "comparative market analysis," or estimate.
¿ Do your own homework. Check with neighbors who have bought or sold recently and with online home valuation sites, such as HomeGain.com and Zillow, before you list your house. That way, you will have a general idea of how your local market is faring.
