Getting to the right list price for your home is a mixed process. After I've seen a home for the first time, I leave with a good idea of what the price range will be. I will fine tune it with my knowledge of the local inventory, by studying comparable homes, and to some extent, my gut intuition. Most local agents work like this and we have your (the seller's) best interest - even though you may not always agree.
Winnetka, Wilmette, Kenilworth and other North Shore villages have wildly diverse inventory and two homes are seldom alike unless they're new construction. This means that your home is likely different from your neighbors' homes and needs to be valued accordingly.
There are, however, things that Do Not Determine the value of your home. Here are some of them:
- Zillow, Trulia and other valuation sites
- How much you paid for your home
- How much you owe on your home
- How much you would like to spend on your new home
- How much you would like your children to inherit
- How much you love your home
- You think your home is cute
- Your wonderful memories of the home
- What the neighbor down the street says
- What your children say
- What your cousin who is an agent in Iowa says
- Because you think you have the best home on the street
- Improvements or (or over-improvements) that you have made
- Your stunning decor
- The lovely compliments you have received on your home over the years
There is serious thought involved and all those things listed above - that do not figure into the process - will only lead to overpricing your home and a longer market time.
Be sure you’re working with a local agent who fully understands the trends in your marketplace to help you determine the correct list price for your Winnetka, Wilmette, Glencoe, Glenview, or Kenilworth home.
To CONTACT Margaret Goss, please call 847-977-6024 or email: firstname.lastname@example.org
Margaret Goss is a full-time real estate agent since 1998 servicing the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston. See full BIO for Margaret Goss.
Filed under: Real Estate