Calculating Your Homes Value

If you are thinking of selling your Lynden, WA real estate this spring, you probably are trying to figure out how much your home is worth. Pricing your home for sale in Lynden, WA correctly is the second most important step to a successful sale. The first, of course, is finding a qualified Lynden, WA realtor. Which is also the first step to finding out how much your real estate in Lynden, WA is worth. What else can you do to come up with this important number? Read on!

Step 1: Contact your local Lynden, WA realtor. Figuring out your homes dollar figure shouldn’t be pulled from Zillow, which uses automated valuation models to determine a “zestimate” as they call it. It is a great place to get a rough idea, but it is what it is…an estimate. Some people get too attached to that number when it isn’t appropriate for the current market conditions. Your Lynden, WA realtor will pull comparable properties that sold in the last 90 days. They will then pick the appropriate “comps” and average the purchase prices to come up with a baseline number to start with.

Step 2: Check out your competition. If your neighbor is selling their Lynden, WA real estate for $350,000 and you want to list at $500,000, be prepared to tell people why your home is priced higher. Your neighbor’s home could need a complete overhaul while yours has gone through a total renovation. That would be a reasonable explanation for a higher price. OR! Your home could be in desperate need of a remodel but is larger, is on a bigger lot and has other desirable features that justify this number. Whatever the reasoning is, have it ready to go when people ask why your home for sale in Lynden, WA is priced higher.

Step 3: Make sure your home is priced based on market value. Don’t play any tricks like pricing too high to test the market or pricing too low to try and create a bidding war and get more money. Both of those could back fire. The last thing you want is to sell for lower than it is worth OR have it sit on the market and become “stale” because it is overpriced.

For more information on pricing your real estate in Lynden, WA correctly, call me at 360-410-0848.