Using Comparable Sales for Pricing Your Home

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Are you familiar with comparable sales? In order to price your house according to the market value in Sandy Springs, you need to be familiar with the housing market. The first question you should be asking yourself is – how much will my house sell for?

For as high as your neighbor just sold? Or even lower than the market value?

Finding Good Comparable Sale

A house that was sold in your subdivision, one that closed escrow just last week, makes a great house for comparing sales. Comps (real estate lingo) give you an idea about whether your set value matches the current market value. Of course, real estate agents have all the knowledge about this but if you are taking this project on your own, here are the things you need to look into for comps:

Location

The location of the house matters the most. The house you are using for comps must be in your subdivision, same street and the same school district.

Amenities and Upgrades

  • Has the kitchen been renovated?
  • Is there a central AC?
  • Is there a pool or a deck?
  • Homeowner’s association fees?
  • Does your community have facilities such as gyms, community hall, walking trails, etc?

Home Type

The house should have the same style and built with same construction material. The size of the house, number of bedrooms with attached bathroom, basement, yard size, house finish, etc should all be the same.

Sale Sweeteners

Are you willing to give sale sweeteners such as assistance in down payment, a little leeway on closing cost, a free television, etc to the buyer? You can use these to make the deal more attractive than your competitor’s deal.

You can get a better idea about your house’s worth in Sandy Springs by getting it appraised by someone you trust. Working in your favor, they will give you an insight into the bitter truth, so that you can make changes in the price or get ready to do some repairs in order to raise the price of the house.

Once everything has been catalogued, divide your house’s amenities, which the comparable seller did not have in his house, into two categories – less expensive and more expensive. This will help you pitch your house in a better way to the buyer. You will be able to point out the benefits the buyer will be getting with your house.

Two other things that can affect homes for sale in Atlanta are short sales and foreclosures. Foreclosures are priced low due to the house’s poor condition and short sales vary because the seller is making a distressed sale. Therefore, when you are selling a house, you need to look at all the aspects and do a thorough survey of your neighborhood. Small changes in the house that benefit the buyer can increase the sale price but make sure that you are keeping it to the market value to entice the buyer.

Want to know the current value of your house? Visit America’s Network Reality and get an accurate evaluation from experts.

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