Five Criteria for Pricing a House

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When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

4. Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.

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About Real Estate Diva Brenda

Brenda Douglas aka Real Estate Diva Brenda is a luxury/probate agent, blogger/vlogger, seminar leader, Diva Home & Lifestyle Podcaster & Co-Author. The DMV is one of the most desirable places to live, work, and visit! And I can help you live here. Whether you want to buy, sell or invest in a DMV (DC, MD, VA) property, I can help! Contact me to get started today at realestatedivabrenda@gmail.com www.facebook.com/realestatedivabrenda www.facebook.com/divahomeandlifestyle www.diaryofarealestatediva.com plus.google.com/u/0/+RealEstateDivaBrendaDouglas https://www.pinterest.com/RealEstateDivaB/ https://twitter.com/realestatedivab https://instagram.com/realestatedivabrenda https://www.linkedin.com/in/realestatedivabrenda YouTube Channel: https://www.youtube.com/realestatedivabrendadouglas KWPP Mobile App: http://www.app.kw.com/KW2BR7YKN
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