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Is there a formula how to find out what you should sell your house for

we want to sell our house in the spring...the house on the next street is going for $234,000 our house has twice as much in and out.....any ideas?

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Tinkie107

Asked by Tinkie107 at 7:07 PM on Mar. 14, 2009 in Home & Garden

Level 3 (15 Credits)
Answers (4)
  • Doesn't matter what the others are on the market for, it matters what the recent sold prices have been. That's what the bank will allow a buyer to spend. It's all public record, you could go to the assessors office in your town hall and look up the recent (4 months) solds in your area.
    EireLass

    Answer by EireLass at 7:17 PM on Mar. 14, 2009

  • When a real estate agent comes up with a price for your home, they compare your house with houses that have sold in the last six months. Comparable homes prices take into consideration square footage, bedrooms, bathrooms, and acreage within a 2-10 mile radius, depending on your location. They then adjust for amenitites, age of the home, and whether there is any deferred maintenance, such as a roof that needs repairing or appliances that will need to be replaced. Be aware, though, that agents will generally price your home to sell quickly, not necessarily what is fair market value.
    Busimommi

    Answer by Busimommi at 8:15 PM on Mar. 14, 2009

  • You need to get a real estate agent to find the "comps" in your area ... i.e. what the other houses have sold for recently. And these "comps" need to be comparable to what your house is.
    ap9902

    Answer by ap9902 at 11:46 PM on Mar. 14, 2009

  • Take a look at www.zillow.com. It will show you estimates of what homes in your area are roughly worth. It will also show recent sales prices for homes in your area.

    But remember, it doesn't matter what you ask for. All that matters is what someone is willing to pay. You may think yours is far nicer than a neighbors, far bigger, with a better floorplan, nicer decor, great landscaping - but the buyer may not agree. And buyers won't pay for what you think - only what they feel.
    kaycee14

    Answer by kaycee14 at 3:43 PM on Mar. 15, 2009

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