10 Tips for Pricing Your Home

The Truth Behind Comparables

What's your home worth? Well, it's worth what someone will pay for it. And what will someone pay for it? Well, they'll likely pay what they've paid for similar houses in the recent past. You already know this. It's easy to have Realtors gather lists of comparables, but once you have these lists, it's worth evaluating them yourself. You know your house and location best, so you might be best equipped to slot your house accurately among the competition.

That is, if you know the competition. You can bet that buyers will visit a few of these comparables, and you should, too. There's nothing like walking around a house to see how it stacks up against yours. But remember: Active listings are your competition, but they're active for a reason. They haven't sold yet. Looking at comparables currently on the market might give you a good picture of what houses in your neighborhood don't sell for. Instead, try to find out as much as you can about what has sold, and nest your house among these prices according to how you -- and maybe only you -- believe it stacks up.

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