Let's say you see a home on the market down the street for substanitally more or less than what you are hoping to put your home on the market for. Depending on the situation, you think to yourself, "I can't believe they're selling for that low" or "I hope they get their higher price". Regardless of how your neighbors price their home, where it sells will most likely impact your sales price.

Some of the most important data to study is the local neighborhood information. Within your subdivision or building, you must find out from your Realtor the similar properties available on the market, those under contract, the recent sales, and even the recent expired listings (those properties that didn't sell). This will help determine the correct market positioning for your home.

In addition, your Realtor should prepare a packet of information, giving you a snapshot of the competitive properties in your area. To match most closely to your home, the properties should be similar in square footage, age of home, style of home, and like amenities. Other important considerations are: Does the competition have a basement? If so, is it finished? Do the houses have one, two, or three car garages? Are any of the similar style properties in foreclosure? Do any need substantial fixing up? This is all information that your Realtor will review with you.

Your own motivation in moving will partly determine where you eventually position your home on the market. Whether you are relocating due to a new job or perhaps your family is growing and you need to upsize, motivation plays a key role in pricing.

If you are thinking about selling your home, contact Kathy or Zac to set up a free Home Valuation consultation with no obligation.