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Tips on Pricing your Home for Sale or Determining an Offer Price

When looking at sold comparables, remember to adjust for time and updates. You may have updated your kitchen and baths 10 years ago. Only brand new updates create a significant price impact because of changing technology.

Look inside of the active competition. Know first-hand by taking a tour of what else is on the market at the current time. If there are many properties just as nice as yours with optimal or better layouts, you should adjust your price to reflect that purchasing your home presents the best value for the buyer.

Consider your layout. Every flaw of flow or convenience (lack of mud rooms, foyers, garage entrance off basement, etc) can impact the selling price.

Be aware of stairs. Current demographics suggest that too many stairs or stairs that are too steep and narrow can impact the demand for a home by families that include older parents, grandparents and great grandparents.

Examine your land. Ponds, pools and uneven or unusable land can decrease desirability in the current market. Level land and gorgeous views may attract contractors that want to add size.

Look at your home's position in the neighborhood and street. Corner lots and lots at cul de sac may demand a higher price.

Do a detailed analysis of comparables beyond style and location. Look at custom reports that show list price versus sales prices of homes with your exact layout not just those of the same style. Also analyze current inventory to see what percentage of homes listed are similar to yours in terms of layout, not just style.

Know the demand for the style of your home. Ranches with full basements and tastefully renovated colonials and older homes renovated with modern features are more desired in the current market than contemporaries, raised ranches, high ranches, farmhouses and un-renovated antiques.