It’s time to sell your home. The good news is it’s a seller’s market. That means you have the control because there are not enough houses for sale, more people than usual want to buy a home, and the interest rates for mortgages are low. This is the trifecta sellers hope for when they are ready to sell.
But how do you know you’re getting a good price for your home when you’re ready to sell? There are a few things you and your real estate agent can do to tip the scales more in your favor.
Pull the comparable listings of similar homes that have been for sale in your neighborhood in the last 6 months. Limit your search to houses within a ½ mile unless there are only a handful, or you live in a rural area with fewer homes. Compare similar features, style, age and square footage of these homes to yours to honestly asses your home’s value.
In a seller’s market you might add another 10% more to the last comparable sale in your area. If there is little inventory in the market, your home can yield a higher sale for you.
With the knowledge of current sales of other homes in your neighborhood to guide you in pricing your home correctly, you can be assured of getting a maximum return for your efforts when you’re ready to sell.