STEP 3: Compare Pending Sales (Homes in Escrow)

STEP 3: Compare Pending Sales (Homes in Escrow)

​Next, you must review comparable homes currently in escrow to those that recently sold. This will give you an idea of what buyers most recently were willing to pay.   Consider how quickly comparable homes went into escrow by looking at the Days on Market...
Demystifying Pricing For Sellers

Demystifying Pricing For Sellers

To all home sellers: this one’s for you. The topic of pricing can be a testy one for both Realtors and sellers. However, it doesn’t have to be. The notion that pricing is more of an art than a science isn’t really true, as many of the cornerstones of...
STEP 2: Look at Recent Sales

STEP 2: Look at Recent Sales

Once you’ve identified comps, the next thing you must do is look at comparable home sales in your area for the past 3 months. If there aren’t many sales (say, under 6), then expand your search to 6 months. This will tell you what buyers were willing to pay...
STEP 1: Identify “Comps” (Comparable Homes)

STEP 1: Identify “Comps” (Comparable Homes)

First, what is a “comp?” Comparable homes (“comps”) are homes that are in the same area as yours, and have a similar home size, lot size, condition, and, if possible, style of home. Consider the area: It’s important to analyze homes in...
Holiday 2016 Market Update

Holiday 2016 Market Update

With the holidays, one might think the real estate market would slow down. However, there’s actually still plenty of activity this year, possibly influenced by the recent upward performance of the stock market. Going into the holiday season, in our neighborhood...