What Sellers Should Know About Comparables

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When looking to sell your home, your Shorewest, REALTOR® will be looking at quite a few different factors to see where your home should fall price wise. It is important to look at comparables or comps to understand fully how your home matches up to the neighborhood. Here are four points to compare your home with:Compare 11. The landscaping. Not only does curb appeal make a difference, but how usable is your yard? Do you have a hilly terrain with half of your lot usable because of the steep slopes? If the next house over has the same amount of yard but is able to take advantage of the full two acres, their price will be higher than yours.

2. The renovations. Homeowners who have done home improvement projects will typically get a higher price for their home. Looking around the neighborhood, your Shorewest, REALTOR® should be able to see how much of a return neighbors are getting for their different projects. Then you can look it over and see if any other those projects can be completed for your home.

3. Listing price vs. sales price. Sold inventory is actually a much better comparison for your Shorewest, REALTOR® to compare your home than a listing price of a competing home. The listing price reflects what the seller wants, not necessarily what buyers are willing to pay.

4. The market. Right now we are in a seller’s market. What this means is that there is a low inventory of homes listed to sell, which sometimes translates into higher prices for homes. Of course this all depends on the other factors listed as well.

CompromisePricing your home competitively takes time and research. Make sure to consult your Shorewest, REALTOR® as they have been extensively trained and are up to date in the current market’s affairs. Of course you can help this by staging your home, completing any small projects to update your home and listening to the advice of your Shorewest, REALTOR®! #ShorewestRealtors #SellingYourHome #Comps

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Categories: Home Selling, Homeowner, How to, Real Estate Tips

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