Monday, November 9, 2015
The other day an agent asked me how to price a home. It was a unique home and she said that they were going for about $130 per foot, which felt over-priced. I explained that the price per foot is just ONE of the factors that affect the final value. The most important part of pricing a home correctly is choosing your comparable sales. If you just use price per foot you will ignore the other factors that come into play in finding the correct value and getting the most for your home in today’s market. These factors include site influence (location), age, condition, internal and external obsolescence, and amenities, among others. If the home that you want to value is smaller and the other recent sales in the area tend to be larger and you use price per foot, you will under-price the home. The opposite is also true. If you are thinking about selling your home give me a call or email so we can talk about how to get the most for your home.