Today is a much different market place then it was in 2004-2006.
The problem is that today many would-be-sellers still think it's THAT market and since their neighbors' house sold a year or two ago theirs must be worth even more today?Today however, values have declined by at least ten percent and more in some neighborhoods? So how do you price your home to sell?First a reality check; you have to remove your emotion from the equation.
Remember it is business and prospective buyers are not concerned that you put your blood sweat and tears into your home.
Also, many times a realtor is also emotionally attached to a number because their reputation and commission is based on it.
A recommendation that we have been providing to our clients for years is to order a mortgage appraisal.
One of the most accurate measures to come up with the "right" listing price is to have a mortgage appraiser do a true valuation of your property.
This takes all emotion out of the equation from you as well as a prospective realtor.
It is a stark objective view that the eventual buyer's mortgage lender will undertake so you might as well get it out of the way before you list the home.
The expense of a few hundred dollars is easily offset by positioning the house to sell at its current market value.
If you have a mortgage planner that you have used in the past or plan to use for your new purchase you may be able to save a little on the cost by using your mortgage planner's appraiser.
Since they are in the business of ordering these regularly they usually have a discounted price arrangement.
We find that sellers that follow this advice and put their property on the market a few thousand over this appraised value are selling in 30 days or so; even in today's market.
Bottom line; price your home at a level that will create competition among buyers and watch it sell quickly.