Refining your home value when selling your Chico home isn’t always easy, but it is important to the selling process. If you price your home too low, you may be missing out on money you deserve for the good condition in which you’ve kept your home. If you price it too high, you may driving away buyers who don’t think your house is worth what you say it is.
So how do you accurately fine tune what your Chico home value is?
If you find yourself looking for help when pricing your home, here are four ways to help determine your Chico home value.
Calculate the “X” Factors
When you look at Chico comps and have a starting point for your Chico home value, if you can find a home that seems very similar that sold recently, you need to dig deeper into the details to find out why that particular home listed at that price and how your home compares.
For example, let’s say you find a Chico home that is the same size and has the same number of bedrooms as yours, but the overall list price and final sold price seem a bit high. Look closely at the listing to see why it might have been priced higher from the start. Did the home have an upgraded kitchen? An updated master bathroom? A better floor plan? All of these factors can increase a home’s price. Figure out how yours compares.
Choose an Appraiser
An appraiser will cost you money, but he or she can give you a pretty accurate reading on your Chico home value. Because the appraiser is approaching your Chico home value from an objective point of view, he or she will look at your home from top to bottom and give you an unbiased estimate. Utilizing the opinion and review of an experienced appraiser can be extremely helpful if the comps in the Chico area vary widely.
If you don’t care how long your home sits on the market, then you can consider pricing your Chico home at top dollar because you’re willing to wait for a buyer. If you don’t have the luxury of time – say you need to move for a job – then you can try pricing a bit lower than “market value” to get offers coming in fast. This is a potential way to start a bidding war and get multiple offers quickly.
Alternatively, you can reach out to an experienced real estate investor if you are in need of a fast sale. Real estate investors allow you to get a fast, cash offer so you can sell your Chico home quickly.
Competition, Consumption, Condition
These three C’s of real estate can help you determine your Chico home value. The competition refers to the other homes in the Chico area that are on the market. Consumption is the total number of similar homes sold in your Chico area, and condition refers to what your home is like in comparison to others.
Understanding where your Chico home sits in relation to others on the market will help you to come to a fair and accurate price.