To set the right price on a home, combine an objective evaluation of your
property with a realistic assessment of market conditions.
You are more likely to benefit by determining a fair value and sticking close
to it than by asking an unrealistic figure.
Under-pricing can deprive you of money that's rightfully yours. Unless rushed,
aim for full market value.
Study the Comparables
Be cautious of either overpricing or under-pricing if you rely on
less-than-solid information. Know your competition. Learn the offering and
selling prices of similar properties. Find out how long each took to sell.
Compare your home to others close in age, style, size, condition and
location. Timing is all-important. If market demand is high, you should be able
to increase the price. Sales prices of homes are published in local or regional
sections of newspapers.
Get an Appraisal
Appraisal opinions are subject to honest dispute. Generally, an appraisal
prepared by an experienced, licensed professional comes as close to an objective
evaluation as you can get.