Real Estate Sellers Resource Center

Do Your Own Market Analysis

Research

Check out your competition - what is similiar to your property that is also for sale

Gather pertinent information on similiar properties that have sold

Research properties that were withdrawn from the market or expired listings with real estate agents
1) Were they over priced?
2) Are they in need of repair?

Compare

Pick out at the three that are most similiar
1) 3 currently for sale
2) 3 recently sold (preferably within the past 6 months)
Adjust the similiar properties with more or less value depending on how they measure against your property - the subject property

Determine Value

Where do you fit price wise within the current market?
What is the probable price your property will sell for?
These two prices should be within 5% of each other
Be honest with yourself

Important Factors

Do not trust word of mouth - get your information from the tax records or other reliable sources
Do not adjust the value of the subject property - only the comparables
Important features to adjust
1) Location - waterfront, oversized lot, etc.
2) Physical features - pools, type of construction, etc.
3) Economic changes - large corporation layoff

This information can be found in greater detail in
"A Complete Handbook for Selling Your Own Home".

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