Selling in Central Ohio
Pricing Your Home to Sell
If you're thinking of selling a home in Central Ohio, you've likely got some questions about how to determine the best listing price for your home. To get you started, I've compiled a list of some of the most frequent questions I get from sellers about pricing a home. Still have questions or ready to get started? Feel free to contact me at any time.
What's my home worth?
Ultimately, a home is worth what someone will pay for it. Everything else is an estimate. To determine a property's value, most people turn to either an appraisal or a comparative market analysis.
A comparative market analysis is a real estate broker's or agent's informal estimate of a home's market value based on sales of comparable homes in a neighborhood. Want to know your home value? Request your free comparative market analysis:
Find Your Home's Value
What is an appraisal?
An appraisal is a certified home appraiser's estimate of the value of a house at a given point in time. Appraisers consider factors such as square footage, construction quality, condition of the home and neighborhood, design, and floor plan, plus a neighborhood's transportation availability, nearby shopping, and area schools. Appraisers also take lot size, topography, view, and landscaping into account. Other factors include comparable local sales and any pertinent historical information, like sales performance and indices that forecast future value. Most appraisals cost about $300 for a $250,000 house.
What's the difference between market value and appraised value in real estate?
The appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Most lenders require appraisals as part of the loan application process; fees range from $200 to $300. Market value is what price a buyer will pay for a home at any given time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. A comparative market analysis is the most accurate way to determine your home's value.
How is the price set for a home?
It's very important to price your home according to current market conditions. Because the real estate market is continually changing, and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood. When you prepare to sell, it’s HIGHLY recommended that you enlist the help of a qualified and skilled Realtor to help determine the list price most likely to yield the highest success rates.
What is the difference between list and sales prices for a home?
The list price is how much a house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount the property actually sells for. It may be the same as the listing price, higher than the listing price (ideal), or lower (more typical). The sales price depends on how accurately the property was originally priced and market conditions. If you are a seller, you may need to adjust the listing price if there have been no offers within the first few months of the property's listing period.
Additional Selling Resources
Central Ohio Real Estate Resources
Still have questions about buying or selling a home in Central Ohio or ready to get started? Then it's time to contact me—I can answer all your questions and get you on your way to a successful real estate transaction in the metro Columbus area!