Many sellers have often started to do their research by looking at other homes that are for sale.  When they find out that the ranch down the street is for sale they run down to the open house on Sunday to discover in horror that it is the same price that their agent just told them that they would put their home on the market for in a couple of weeks.

But your two- story home is in much better shape, with more square footage, not to mention the fact that you have upgraded all of the appliances, and there isn’t a spec of dirt… you think to yourself.

So why is that house listed at the same price?  First of all, as an experienced real estate agent we must only compare apples to apples.  Since your home is a two story home and this is a ranch I would explain to you that we must look at the two story homes in the area that have sold recently to find where your home value should be, and that the ranch down the street has done the same.  You may say that the two story about 5 miles away sold for over $250,000, but I will explain to you why that isn’t going to help you sell your home.

Realtor.com does a good job explaining:

If a house exactly like yours – same size, same age, same condition – on the other side of town is selling for $200,000, don’t think you’re made in the shade at the same price. A host of things in your own neighborhood can affect your home’s price – the quality of schools, the crime rate, or the street you live on. For instance, you may have a stellar home, but if it’s on a busy street, its value will undoubtedly be less than a comparable home on a road less traveled. Potential rezoning of adjacent areas also can affect comps: If that lovely forest behind your home is due to become a sea of condominiums, your home’s value is likely to be less than a similar home that will retain its forest view.

If you truly want that SOLD sign in your yard, trust your real estate agent to give you a quality comparative analysis of the homes that have sold in the last six months in your area.  This will tell you where you should list your home because it shows the successes and the failures over the last six months.  Do you want to be a success- then give me a call to help put that SOLD sign in your yard! Stephanie Mathis 578-6308