How can I be sure I’m pricing my home to sell?
It's building into a strong selling season so make sure you don't spend it on the sidelines trying to sell an over-priced home. Pricing is the single most important aspect of selling real estate. If over-priced, the house will sit unsold; too low, lost profits.
Obtain current comparable estimates. If you live in a neighborhood with similar-sized homes, try to find 3 or 4 recent sales examples and then average the price per square foot to derive a rule of thumb. Increase or decrease the estimate based upon condition, age, upgrades and competition.
Include income potential. If the property is capable of generating an income via rental, then use the profit potential of the property to estimate the return on investment or ROI. Most investors expect an ROI at or above the safe, headache-free option of investing in Treasury bonds.
Get a second opinion. Work with a real estate agent who specializes in that location to provide valuable feedback and a second opinion. Remember, if you expect a fast sale then search for all available properties and then plan to price your home near the bottom range of the properties currently listed and sold in the area.