Analyzing your home’s value is not always an easy task but it is extremely critical to having a successful sale. Determining factors to value are statistics using comparable homes within 2 miles that have sold within the last 6 months to a year and market conditions at the time you decide to sell. Market conditions in this case means, how many homes are currently for sale, how many days have they been on the market and how many sales are pending. Specific updates you may or may not have done in Kitchens and baths and throughout your home will make a difference in what your home is worth. (Studies show that upgrading kitchens and baths give Sellers their biggest return on investment).
Unfortunately, factors like, I paid this much 10 years ago….or I added $50k worth of Landscaping may not always translate into return on your investment.
Find a Realtor that knows where to gather and how to analyze pertinent information by using not only MLS data, but other sources privy to the Realtor community. Believe me, Public websites will not contain all the information and the experience of a professional needed to determine value.
So, while discovering this very important step in the home selling process, take an objective view, try not to get too emotional, look at your home through the buyer’s eyes, and soak in all the factual information your Realtor presents to you using a clear and concise Market analysis. Knowing the real value of your home and acting on the advice of a “trusted” Realtor will always bring you the most money possible!