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Correctly pricing your
home for sale, right from the beginning, may be the
single most important decision a seller has to
make. Typically, urgency is greatest during the
first few weeks a home is on the market so priced
right the chances of getting the highest price for
the home is key.
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The following steps can help you determine how to set the
selling price of your home and a REALTOR® has the tools
available to help you achieve them:
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Get a
Comparative Market Analysis (CMA) to help you accurately
determine the selling price of similar homes. A CMA
provides information about recent selling prices of
similar properties in your market. They also include
information about area homes that failed to sell in
recent months along with their corresponding list prices
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Analyze sales
data and market research.
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Make an
impartial assessment of how homes for sale in your
neighborhood compare to yours in terms of size,
location, amenities and condition.
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Hire a
trained appraiser. Appraisals generally are used by
lenders to ensure they do not underwrite a property for
more than it is worth. Appraisals also are used when a
property’s value is difficult to assess due to a lack of
recent real estate activity in a specific market, for
example. Always keep in mind that an appraisal is just
the opinion of one trained professional based on past
sales data, location, lot size and the condition of the
property. Source:
Massachusetts Association of Realtors
