Las Vegas Real Estate News

Wondering How Your Home Should Be Priced?

Many real estate agents will help you price your home. That's great. Very often, they'll do a great job, but you should double check it yourself.

Here are the five things to look for when you're pricing your house:

1. Recent sales data - Even data that's a year old can be useless. In many parts of the country, prices have been going up faster than 0.5% per month. Try to look for the most recent sales and pricing data you can find. Much of it's online.
2. Location - The closer to your house that you can find sales, the more likely that you'll find the right price. Sometimes it's hard to find the exact prices and values close to home, but do your best. When it comes to location, you're also looking at trends. If there are a lot of families shopping, they might love that you live on a quiet block or near a playground.
3. Upgrades and cool features - If your home has an upgraded kitchen or even a new roof, it can increase the value of your home quickly. Look for those upgrades that you put in that might not be obvious, like a new furnace or an updated back deck.
4. Style - The layout of your house is a major factor in how much it's worth. When you're comparing other houses to build a price, look for houses that are similar. Not just the number of bedrooms, but also the overall design.
5. How they were sold - Look at how other homes in the area were sold. If they were sold on short sale or a foreclosure, the price will be lower than a normal home sale. You can simply remove those houses from your comparison list.

Wondering How Your Home Should Be Priced?

Once you've found homes that meet these criteria, you're ready to look at every price. Consider the intangibles, like being close to the school.

Use your estimate to compare to your realtor's estimate. You'll know if they're close and ask questions if you have concerns.

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