Category: Pricing Your Home

  • Yes, Home Bay can help you with pricing by pulling comps, sharing them with you and answering questions you may have about them. Here is a short video on our approach to pricing. If you are interested in auto-appraisals, we have found the most accurate sites to be: * Redfin [https://www.homebay.com/tips/which-home-value-estimator-is-better-redfin-or-zillow/] * Realtor.com * Zillow [https://www.homebay.com/tips/zillow-announces-new-price-this-home-tool-for-sellers/] * Trulia Statist

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  • How to Get Neighborhood Comps

    By Home Bay

    Posted on July 18th, 2016

    Once you sign up with Home Bay, we can send you any neighborhood comps - or similar home values and details - that you would like. We typically recommend that you look at the last six months of sales in your neighborhood for homes like yours (same number of bedrooms and similar square footage). We recommend that you focus on average price, price per square foot and average days of marketing prior to going into escrow. You can use this information to help identify a good price for your home [htt

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  • It can be intimidating to price your home, but there's no reason to spend too much time worrying about the long-term implications of your initial price. This post explains why. Today, almost all serious buyers are signed up for alerts when new properties come on market that match their price, bedroom and location parameters. Within the first couple weeks you list, almost all serious buyers looking for properties in your area will see your house for sale, make appointments and potentially make o

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  • Get advice from industry expert, Zillow CEO Spencer Raskoff, on how to analyze your list price, how to determine when to change your price and how to maximize the impact of price changes. Spencer Raskoff, the CEO of Zillow, wrote a book called Zillow Talk. In the book, he devotes an entire chapter to analyzing pricing. He cites that the biggest mistake home sellers make is leaving room to negotiate. He writes that you should not price your home above the fair market value. Here's an excerpt:

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  • If an agent promises they can sell your home for more money than any other house on the block, you should hire them right away, right? Not so fast. Remember, a real estate agent's pitch is designed to get you excited to work with them. Read on to learn why you should be wary of pricing advice from agents looking to land a new client -- you! When a realtor comes to your home to pitch their service to you, they know that by promising you they can sell your home for more than other agents are say

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  • We often hear from home sellers that they will only accept an offer at $X+ price because their home is superior to another home in their neighborhood that just sold for $X.We caution such sellers to be very careful. Here's why. You can easily get tripped up by small data samples and decline offers you might otherwise accept. For example, we recently had a property in San Mateo listed at $599,000. Six to eight offers came in between $660,000 and $680,000. However, one offer was $740,000. The sel

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  • Pricing your home requires a thoughtful evaluation of your local market, recent home sales in your area, the unbiased value of your home and more. To make sure our sellers set an accurate list price on their home, we ask them to answer the following last minute pricing questions prior to listing. 1. How does Redfin's estimate of your home's value compare to your price? Go to Redfin.com [https://www.redfin.com/] and type in your address to learn. Nationwide, Redfin's median error rate

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  • Retirees can't afford to make financial mistakes because they don't have a lifetime of work to make up for their errors. So if you're preparing for retirement and are planning to list your home, getting the pricing right is critical. This post explains exactly how you should go about pricing your home for sale. The Big Mistake You Must Avoid: The biggest pricing mistake [https://www.homebay.com/tips/4-ways-overpricing-your-home-can-hurt-your-sale/] you can make is basing your list price on how

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  • The Best Pricing Strategy

    By Home Bay

    Posted on July 10th, 2017

    The best listing price strategy is to list at or below market value. A wealth of data supports this conclusion. Zillow's Data Says Never Price High Spencer Raskoff, the CEO of Zillow, wrote a book where he devoted a chapter to pricing and included Zillow data over millions of home sales. Zillow concluded that if you price high, you will make 4% less than if you price at or below value. That means you lose $40,000 on a million dollar sale, and $20,000 on a $500,000 sale. Moreover, Zillow statis

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