Home Price
I'm trying to sell my home and will be working with our local realtor. However, I would like to know how much I should list my house for? What would be a good price to start? I just want a second opinion. Thank you.
Hey Tom! Good job on the new Top Gun movie! 😂
Anyway, this really depends on your market.
You can ask your realtor for comparable sales for the last 6 months. Your realtor would want to know the square footage of your house, the year it was built, how many bedrooms and bathrooms, lot size etc., in order to get the comps (comparable sales). Or your realtor can possibly get those info from the county records or from their own MLS (Multiple Listing Service) if available.
Once your realtor has those info, they can find similar size (and similar lot size, beds and baths, year built, etc) houses sold in the area, and for how much. Your realtor will probably give you a $ range, while some will give you an actual amount. This $ amount or range, will be a good estimate of how much your house is worth (realistic), and what buyers would possibly pay for. This is kinda your baseline.
However, most sellers would want to add X amount of $ from that, especially when they know that the market is doing great, or sometimes they just want to add X amount of $ just to see if someone will still be interested with that higher price.
Honestly, a seller can ask any price he/she wants (asking $1M for a $300k house), but that doesn’t mean buyers would want to pay for that amount. It all comes down to what buyers are willing to pay for that house.
It all comes down to what buyers are willing to pay for that house.
I think this phrase is key. Very good points @ferdierodriguez, the real estate specialist 👏🏻👏🏻👏🏻
@ferdierodriguez Thank you. It's pretty close to what my local real estate agent told me. I'm glad you enjoyed my new movie 😀