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How to Set a Price for Your Home

Key Factors in Listing Charleston Real Estate

South Carolina homeowners selling their biggest investment would like to receive the best possible price. There are many factors which help to determine how to set a listing price for your home. The contributing facts involve a price the owner would like, a price the buyers want to offer and the current market value.

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Listing Prices With Web Sites

There are a few basic realtor tools that can help Charleston homeowners set a listing price. The home listing websites, such as Zillow and Trulia, for the Charleston area, are key components in setting the right price for your home. Look up your address and nearby homes, similar to yours, should appear. Jump in your car and physically go to these addresses and view for yourself, the exact condition of these homes. If the homes for sale are similar in landscape to yours, then watch the home prices and see if they go up or down. You can adjust your listing price accordingly. Watching these realtor websites and adjusting your pricing should really be handled by professional realtors. Charleston real estate agents know the markets and they have all the necessary tools to bring sellers the best price.

Real Estate CMAs and MLS Listings

Another real estate tool that you and your agent can use for a comparable listing price, are the Multiple Listing Service (“MLS”). The MLS database is best kept for true prices, by a realtor, of homes sold in your area. Information needed by a homeowner to sell their home, includes the price that neighborhood homes are selling for, how long they remain on the market, and the up and down price listing for each home. Real estate agents have a more in-depth data from their MLS listings and can tell homeowners what the current indicators are of prices in their market, which aren’t publicly published. Another listing tool is a Comparable Market Analysis (“CMA”), which contains specific selected properties that match yours, detailed factors that help to make your home stand out, and the up-to-date market conditions.

Remain Competitive

Another factor in determining a listing price for your home is dependent upon you. Don’t set your asking price too high, leave room for negotiations. Think like you did when you bought your current home – think like the buyer you once were. Even though the Charleston area contains amazing historic and modern homes, don’t be unrealistic and turn potential buyers off with a high price. Your aim is not to have your home remain too long on the market.

Appraisal Tools

Also, an appraisal of your home allows homeowners to repair, fix, or make some upscale adjustments which can greatly affect a listing price. Appraising your home can now be done in two different ways – hire an appraiser or receive an electronic appraisal. When you hire an appraiser, it is their duty to give you an unbiased and professional appraisal. Online electronic appraisals, give homeowners an automated evaluation of their homes, for just a few dollars. An electronic appraiser provides homeowners with precise property details, census tract information, lot size, living areas, history of the home, tax assessment, and earlier sales information.

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We write often to give you the latest insights on owning a home or property in the Charleston, SC area.