Home Selling: How To Set The Right Asking Price

Many homes remain unsold for a long time because they're over-priced. Pricing your home right is essential if you want to sell your home in quick time. Expecting more for your home than the rates that prevail in the market will only delay the sale of your home, unless your home has something more to offer than other homes. When it comes to pricing your home for sale, you need to consider that your home is going to be competing with other similarly priced homes in your area and unless there's a short supply of homes for sale, you're going to have to set a competitive price.

All that said, some homes do sell for more as do some homes for less. It all comes down to how you set your asking price, how you go about negotiating and what are your costs involved in the selling process. Here, we'll discuss how you can determine a fair asking price for your home in prevailing market conditions.

Real estate agents - Whether you intend on using the services of an agent to sell your home or not, they will call you to offer their services so you may as well get them to provide you with some information. Agents will usually offer to give you a free "Comparative Market Analysis (CMA)" of homes recently sold and presently on sale in your neighborhood. This data should be useful in helping you set a reasonable asking price, keeping the features of your home in mind and how it compares with the others.

Internet Listings - Browsing internet home listings will give you a fair idea of how much homes are priced in your neighborhood and how much you can sell it for. There are plenty of 'by owner' sites with many internet listings and there is also realtor.com which offers MLS listings.

Driving by the neighborhood - Surveying the area yourself and visiting homes presently on sale will give you a good idea of how much you can quote for your home.

Home Appraisal - Getting a real estate appraiser to put a value on your home, based on its condition and recent home sales in your neighborhood, should give you a fair price range in which you can sell your home. The appraisal can also be used to help justify your price when negotiating with buyers. (Get a free home appraisal done here.)

So set your price after investigating two or more sources, so that you can justify for the price you set. Your home will sell fast as long as there's a reasonable amount of demand for homes in your neighborhood and you don't overprice your home when compared to other homes in your area.

Best of luck with the selling of your home!

Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com - Listings of homes for sale in the U.S.

MORE RESOURCES:

Fidelity sheds portion of real estate investment group - Bizjournals.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/0-0fd=Rurl=http://www.bizjournals.com/boston/stories/2008/10/13/story30.htmlcid=1257256510ei=40nzSIiWAZaO9QSzppmHAQusg=AFQjCNEcXRYQy-u8kT9j9CSufgMgTIq-xQFidelity sheds portion of breal estate/b investment group/abrfont size=-1font color=#6f6f6fBizjournals.com,nbsp;NCnbsp;-/font nobr1 hour ago/nobr/fontbrfont size=-1Pyramis Global Advisors, a division of Fidelity Investments, is spinning out the private equity arm of its breal estate/b group. A Fidelity spokesman declined b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-1fd=Rurl=http://www.msnbc.msn.com/id/27158239/cid=1257256510ei=40nzSIiWAZaO9QSzppmHAQusg=AFQjCNGT8yXLcWKqq0NchvayOjFTUB6xYwDepartment of Justice developer not able to get financing/a font size=-1 color=#6f6f6fnobrMSNBC/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257256510hl=ennobrall 325 news articles/nobr/a/font/div/font/td/tr/table

Falcon Announces Best-in-Class Green Real Estate Project - MarketWatch

Grand Rapids hosting UM real estate forum; showing off development - WZZM

The Short Sale Formula Launched to Help Real Estate Investors ... - PR Web (press release)

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/3i-0fd=Rurl=http://www.prweb.com/releases/outsourceshortsales/shortsaleformula/prweb1431994.htmcid=1257188797ei=40nzSIiWAZaO9QSzppmHAQusg=AFQjCNEZsrEYx1TPT5CBgexxvffAurmx3Aimg src=http://news.google.com/news?imgefp=E5fG3VEd68MJimgurl=www.prweb.com/prfiles/2008/10/06/219405/gI_SSFHeader.PNG.jpg width=80 height=32 alt= border=1brfont size=-2PR Web (press release)/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/3-0fd=Rurl=http://www.prweb.com/releases/outsourceshortsales/shortsaleformula/prweb1431994.htmcid=1257188797ei=40nzSIiWAZaO9QSzppmHAQusg=AFQjCNEZsrEYx1TPT5CBgexxvffAurmx3AThe Short Sale Formula Launched to Help bReal Estate/b Investors b.../b/abrfont size=-1font color=#6f6f6fPR Web (press release),nbsp;WAnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1The Short Sale Formula will be released to the breal estate/b investing community to provide a step-by-stop formula on how to put together a short sale packet, b.../b/font/div/font/td/tr/table

Bahrain real-estate market ‘faces record year’, says expert ... - Al-Bawaba

Real estate bust: Toledo wins at Big House - San Francisco Chronicle

Now Is The Time To Invest In Commercial Real Estate - PR Web (press release)

Real Estate Investors meet Tuesday - Prescott Daily Courier

Great Food, Good Drinks and Luxury Real Estate on Main Street - Eastside Business Journal

Hypo Real Estate#39;s Viermetz Steps Down After Bailout (Update1) - Bloomberg

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Real-Estate - Google News

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