How do you know what to price your North Iowa home at to sell? The best trick of the trade is comparable sales (aka comps) in North Iowa. This real estate phrase means finding similar homes in the area that have recently sold and matching the sale price to your own.
In order to be successful with your own comparable sale, be sure to consider these factors when doing your pricing research:
Location. You want to find the closest house possible to you, but you cannot just randomly choose any ol’ house within your neighborhood. It has to be as similar to yours as possible. Location can refer to your immediate neighborhood, larger subdivision, type of street you live on, and the school district the home is located within.
Type of Home. Find comparable homes that match your own in terms of architectural style and materials, number of bedrooms and baths, size, design finishes, and lot size.
Amenities. Find homes that have similar amenities to yours, such as fireplaces, deck, lake view, etc. Also consider upgrades that the other homes might have and how those effect pricing.
Date of Sale. Since the market is always changing, you need to use up to date home prices. Never use a comparable sale value that is beyond 90 days old.
Use your Realtor! No one knows more about the local market than an Experienced Realtor! Your real estate agent has the knowledge and experience to understand the comps since they have been buying and selling homes just like yours in North Iowa. Make adjustments to your own home’s price with their insider knowledge. In addition, since they do not have an emotional attachment to your own home, they are better suited for accurately assessing the similarities between your home and others in the area to price it correctly.
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