How to price your home...the 3 factors to consider in selling your home are location, condition and price...and they're all related.

Location - Your home's location and setting influence its value.  A home on a quiet cul-de-sac sells for more than the identical home on a busy street. You obviously have no control over location.

Condition - New homes enjoy a marketing edge over resale homes because they're shiny and clean.  Builders enhance their appeal by offering model homes (clean, bright, decorated in current colors and amenities to catch the buyers eye).  Our goal is to make your home as close to a model as possible.  Buyers want to see your house, NOT your stuff; clutter can actually hinder the sale of your home.  Tidy up your cabinets, closets and garage, pack knick-knacks away, have a garage sale or give items you won't be taking with you to a charitable organization.  Remember your plan is to move, start getting ready now, and it will enhance the desirability of your home.  Show off the best qualities of your home.  You'll still live in the house, but keep it as neat and tidy as possible, purchase some plug in air fresheners, tidy up the yards as well.  You have nearly total control over the condition of your home; you can increase value and decrease marketing time by being sure your property is in the best possible condition. 

Pricing - If IBM stock is trading between 104 and 108, it does no good to insist on selling at 112.  Likewise, your home must be priced within the appropriate range.  You must actually "sell" your property twice...first to a buyer, then to an appraiser.  The buyer is more subjective and compares the amenities of your home to those of other homes in the same price range.  The appraiser is more objective and compares age, size and cost-identifiable features in your home against other properties that have sold.  A buyer has NO interest or concern in how much money you "need" to net from the sale of your home.  A buyer simply wants to get the greatest value for their purchasing dollar.  If they can buy a house similar to yours for several thousand dollars less, well, what would you do?

Chances are that your home will sell at its fair market value.  Pricing realistically at the outset simply increases the likelihood of a timely sale with less inconveniences and greater monetary return.  Buyers educate themselves by viewing many homes.  They know what a fair price is.  If your home isn't competitive with those they've already seen, it won't sell.  Buyers typically look at homes within a $10,000 price range.  If your home isn't priced within the correct range, it very likely will NOT be exposed to potential or targeted buyers. 

Overpricing causes most homes to remain on the market too long.  Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear "something is wrong" with the house.  (Did you ever notice how car dealers constantly move their vehicles around?)  Often homes that are on the market for a long time eventually sell for less than their fair market value.  If overpricing keeps your home from selling promptly, you can end up owning two homes, the one you've already purchased and the one you're trying to sell.  You'll have to continue to make payments on the one you're trying to sell until it's sold, which could be more money than pricing your home correctly.  Eighty percent of the marketing of your home is done when the list price is determined. 

If you're unwilling to list your home at, or just below, its current market value, you're better served to not put it on the market at all.

Hire a LOCAL professional real estate agent.  Do you have the time, experience, sources of information and contacts to do the job yourself?  Would it go as smooth as possible? Would it give you more personal time?  Would you obtain a higher price?

LOCAL Realtors know the neighborhoods, current market trends, and advertise locally.   There have been recent cases of local homeowners listing with out of town agencies that didn't advertise here (where the home is located and buyers will be looking) and not knowing our market, undervalued or overvalued the home by tens of thousands of dollars...neither of which is beneficial to the Seller.  

Pricing Considerations  - A professional's insight in determining a pricing strategy for your property can keep you from missing an opportunity by undervaluing or wasting time by over pricing.  Experience evaluating competing properties and market trends is a key ingredient for the best transaction experience.

Marketing Expertise

Preparation.  Your agent is skilled in recommending repairs or cosmetic work that have been proven to minimize time on market and maximize  both prospect interest and sales price.

Exposure to the public.  Your agent will know best how to use flyers, open house days, and especially mailing to and meeting with ex-clients and other qualified buyers.  The National Association of REALTORS studies show that 82% of real estate sales are the result not of advertising, but of agent contacts through previous clients, referrals, friends and family, and personal contacts, including...

Exposure to other industry professionals. Your agent will utilize a Multiple Listing Service (MLS) or other cooperative marketing networks.  (Remember to use a local real estate professional to ensure your property is listed on the MLS in the same town as your home!)  Once your property is listed, it is statistically likely the buyer will be the client of another agent associated with yours.

Get ready to show your home ... first impressions are are lasting. Make sure the lawns and shrubs are trimmed, flower beds are weeded, exterior house painting is in good condition...especially the front door.