The single most important factor to consider when selling a house is pricing the house correctly; it’s picking the absolute right price tag: how much your house is worth, pricing the house to sell. You don’t want to overprice the house because you will lose the freshness of the home’s appeal after the first two to three weeks of showings. After 21 days, demand and interest wane.
PULL COMPARABLE LISTINGS AND SALES
Look at every similar home that was or is listed in the same neighborhood over the past three months. Appraisers do not use comps older than 3 months.
The list should contain homes within a 1/4 mile to a 1/2 mile and no further, unless there are only a handful of comps in the general vicinity or the property is rural.
Pay attention to neighborhood dividing lines and physical barriers such as major streets, freeways or railroads, and do not compare inventory from the “other side of the tracks.” Where I live in the Land Park neighborhood of Sacramento, for example, identical homes across the street from each other can vary by $100,000. Perceptions and desirability have value.