Tips for Setting the Asking Price for Your House
You’ve been getting your house ready to be placed on the real estate market. Things are repaired. You’ve replaced any systems that were outdated. Now, it’s time to think about setting the asking price for your house. Where do you begin? How can you make sure that you’re setting the right price that will appeal to buyers and offer you the biggest return on your investment? Here are some tips for you!
All I need is one of those home value things from online, right?
Home valuation calculators are a wonderful resource. In fact, they are great for getting a rough estimate that provides you with some insight. When you use one of the online home valuation tools, you’ll provide some basic contact information and receive an estimate in your email.
I am ready to get a more detailed estimate. Where can I get one?
Find a professional real estate agent to work with when selling your house. They will ask you some questions and give you a more detailed home value estimation using current market data, information on recently sold homes, and factor in any upgrades you’ve made. Things like area schools and other local details do make a difference. They will know exactly what to consider when providing you with a comprehensive estimate to help set the asking price.
Is there a difference between the selling and asking price?
Yes! The asking price is what you expect to get from the sale of your property. The selling price is the actual amount that a buyer is going to pay for the property. It’s ideal for these two numbers to be as close as possible. In order for this to happen, you’ll want to set the asking price competitively so that there is less of a chance for it to be lowered or ignored because it’s too high. You don’t want to set it low and lose money. Listen to the advice of your real estate agent when making your decision.
Great! I guess that’s all I need to know, right?
Not exactly. There are some other things you should consider when setting the asking price on your house. Remember, you want the home to sell as quickly as possible. Making sure you hit all the details means less of a chance for delay.
- Check tax records to get an idea of the taxes paid according to the home value.
- An independent appraisal could be a powerful investment. A lender will have this done later in the process, but this would be your own appraiser who provides you with an estimate based on what he finds.
- Remove your emotional connections. This is sometimes easier said than done, but this isn’t the time to consider memories and experiences you’ve had in the home. These are priceless to you, but they can’t be factored into the asking price.
- Know the neighborhood. Check the other houses for sale in the community, especially if they are similar to your house.
Your best source for information about Santa Clara County is your real estate agent. Give Greg Pedone a call today at 408-234-0145 to learn more about the local area, discuss selling your house, or to set up a tour of available homes for sale.