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Do your own market analysis. Go on Zillow (ignore the Zestimates) and look at recent home sales in your subdivision (3 to 6 months). There will be photos inside and out as well as details. Compare your house to those sales and pick homes that compare closely to yours. That's what buyers will do.
Then you'll have your potential asking price and you can adjust up or down as you see fit.
3-6 months is very old data. I use 0-3 months for sold and I look at what is available and pending to get an idea on the pricing trend.
I also do an absorption rate analysis. That really tells the history of that neighborhood.
What if you own the somewhat older/less modern house in a small neighborhood and there are not real comps in the immediate area?
I'd been advised that once you get a realtor involved, if you do, they will do some investigating on comps to suggest a reasonable asking price.
If you are going to 'sell by owner,' you can do this research on your own by checking property records. A friend of mine did that and priced the house herself. But she was not able to sell it, and I don't think it was the price. I don't think she was a good 'agent' for herself.
Having bought and sold as both a private individual as well as with a real estate agent, I would counsel someone who is interested in the FSBO to approach it very very carefully, even in this market.
Pricing is just one facet of an undertaking that will consume the bulk of your time (if done properly to assure success) for several weeks in order to be successful.
The use of a flat fee agency can be useful in this situation, although there are no guarantees. I engaged a flat fee realtor for a home I sold last year, and had I taken their advice when it came to pricing I would have left tens of thousands of dollars on the table. I had done my due diligence and researched sales in the area over a number of years, and priced the home where I thought it would move and not be overpriced. It sold for more than the listing price and had several full price offers presented.
I've sold two homes using a flat fee agency, and both transactions went very well. It also saved me the time and hassle of having to show the homes, too.
Do your own market analysis. Go on Zillow (ignore the Zestimates) and look at recent home sales in your subdivision (3 to 6 months). There will be photos inside and out as well as details. Compare your house to those sales and pick homes that compare closely to yours. That's what buyers will do.
Then you'll have your potential asking price and you can adjust up or down as you see fit.
Location, including the specific location within a subdivision, is still more important than how nice a house looks inside, in my opinion. Some houses will always be in a much quieter location, have more privacy, more walkability, have better access to transit (not too close, not too far) and may have neater-looking neighbors' houses, fewer cars, better crime stats, better access to schools, jobs, etc.
Also, recent zoning law changes (and some that have been proposed) are going to play a much larger part in buyers' decisions going forward, so that what one's house looks like now won't be as important to many buyers as the potential the house and lot have for the future. A small house has much more space on which to build when all lots are the same size.
Some single story houses are better candidates for expansion (e.g. a single story with a house plan that can easily be converted to a two-story house, or to a larger single-story), the way the house sits on the property, together with recent zoning changes make some properties better candidates for expansion or for adding accessory dwelling units to be used for multi-generational families, Airbnb/vacation rentals, etc.
If you live where these zoning density changes are being made (and I personally hate the changes), I would market my house not only for what it is, but for what it can be.
Do your own market analysis. Go on Zillow (ignore the Zestimates) and look at recent home sales in your subdivision (3 to 6 months). There will be photos inside and out as well as details. Compare your house to those sales and pick homes that compare closely to yours. That's what buyers will do.
Then you'll have your potential asking price and you can adjust up or down as you see fit.
Hard to do in Texas where final sales prices are not disclosed
I will check recent recorder records, but last time I checked it took over a month for transactions to display on the recorder’s website.
That's the case where I live - recorded documents rarely go live in less than about 30 days. Fortunately, selling prices are noted in MLS when the closing occurs, so we get it in a timely manner.
That's the case where I live - recorded documents rarely go live in less than about 30 days. Fortunately, selling prices are noted in MLS when the closing occurs, so we get it in a timely manner.
RM
Just checked, for example, Tarrant County recorders office. Will not allow searches by address. MLS does provide but that requires and individual to use a Real Estate agent to access info. For Nevada properties, I can get this information on Redfin or Zillow. But not for Texas properties.
Multiple realtors just give you a rather wide range. Some say price low end to get multiple offers, others say mid range and prob still get multiple offers. Just confused.
those Realtors should be able to justify their statements.
"here are the last 6 sales. These 3 took price low, get lots of offers. Here's how long it took, and what they sold for. Here's 2 that took the price it high and wait for offers. here's how long it took and what they sold for."
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