How should I price for sale.

Profile picture for moshop
The house appraised for $462,500.  Zillow shows a value of $417,000.  What price should I ask for sale?
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November 21 2011 - Glendale
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Answers (5)

Profile picture for Aaron Weber
There are a few steps here and a few questions.

1. Are you planing to list your place yourself? a FSBO?

2. Why did you get an appraisal?

Now Steps.

1. You have an appraisal and I assume it is from somebody who can be trusted by a bank. This is good and gives you a value for you home. The question is now, can you get somebody to pay that amount for your home. The appraisal is a value for your home but getting somebody to pay that is a bit different.

2. How are you planning to market your home once you price it? Pricing it is one thing, but staging and marketing are very important.

I suggest working with an agent to make sure that you house gets the correct price, exposure, and staged correctly. The first 30 days on the market have the greatest impact on your place. You want to make sure you are ready to roll

As for the Z-estimate. This is based of public data. Zillow has not been in your house, so it does not know what makes it special. Zillow uses the public data it has to come up with an estimate that is as close as it can be from the information that it has.

Trust in the professional appraiser and a Full-Time Real Estate Agent to make sure you get the best price and the quickest sale possible.
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November 23 2011
Profile picture for Frieda Triebel
I assume the appraisal you have is from a certified appraiser.  At this point it is best to contact a local, full-time broker who can offer you a market value opinion.   The zillow figure is merely an estimate based on public record data. 
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November 22 2011
Sometimes Zillow can be different from a market anaylis from an agent that knows the properties in your neighborhood a little better, I would probably contact and agent to do a market anyalsis in your area to get some comparison there is alot to consider when pricing your home.

Thank you,

Julie Weber

[contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for guidelines]
Prudentail Select Properties
St. Charles, MO.
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November 21 2011

How old is the appraisal? Why was the appraisal done - refinancing?

You may want to contact a real estate professional in your area and see what houses that are comparable to yours have sold for in the past 6 months.

The zillow zestimate may be correct but I would certainly verify that with other sources!!!!

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November 21 2011
Profile picture for Mat G.
Contact a few agents and have them perform a Comparative Market Analysis to help you determine what comparable homes have sold for.  This will be your best indicator as to what you should list your home for.   
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November 21 2011
 

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QuestionHow should I price for sale.
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