What is My Home Worth?
When you are selling your home, one of the first questions you need to ask is “what is my home worth?” The housing market and home prices are changing daily so the answer isn’t always simple.
Home prices are highly specific and unique. They are also dependent on a fluctuating market.
Despite being difficult to calculate, having an accurate home price is essential to selling your home fast and for top dollar.
Why You Need an Accurate Understanding of Home Prices
The big reason why you need an accurate home price is that your home might not sell without it. Or it will sell, but much slower and for much less money than you want or need.
If your home is priced too high, homebuyers will pass on by because they can get a comparable home in the same area for less. This causes your home to linger on the market. At that point, the only thing you can do is start reducing the price. Sometimes you have to reduce it well below the market price, costing you tens of thousands!
If your home is priced too low, there’s a chance that homebuyers will assume there is something wrong with your home. They may assume that you failed a home inspection and have huge hidden problems lurking behind the walls. Just as with being overpriced, being underpriced causes your home to stay on the market for too long. This leads to, again, lowering your price.
When you price your home, you want to make sure it is priced similarly to comparable homes in the Killeen area. The pricing also has to take into consideration the unique features of your home.
Beware of Zillow® and Other Listing Sites
One way home sellers try to find the value of their home is by using Zillow® or other listing websites.
The information on these websites is wildly inaccurate. The estimates don’t take into consideration important factors such as:
- The date of the listing
- Unique features
- Other factors
By using these sites to set your listing price, you run the risk of overpricing or underpricing your home. As explained above, both of these can cause your home to linger on the market and necessitate price reductions.
How to Price My Home for Sale
To ensure that your home sells fast and for top dollar, it has to be priced correctly.
The best way to know how to price my home for sale is with a real estate agent.
With Your Home Sold Guaranteed Realty - The Salas Team, we do an in-home comparative market analysis of your home. This analysis takes into consideration home sales and listing prices in your area. At that point, we will calculate your true market value and listing price.
Get your true market value with a comparative market analysis from Your Home Sold Guaranteed Realty - The Salas Team today.