Determining Price

How do you know what your home would sell for? How do you know how much to offer for a home?

There are numerous online resources for determining the value of a house — and they can be a good starting point. However, keep in mind that each home is unique, even if it sits in a neighborhood of similar properties. An impersonal algorithm can offer only a very general picture of its true market value.

If the house has had any major renovations, you’ll understand the importance of having an experienced agent help determine an asking price. But even if there haven’t been substantial improvements, don’t forget that even smaller touches can have a big impact on a home’s desirability.

Have there been cosmetic upgrades, such as refinished wood floors or updated countertops? Has there been landscaping that adds curb appeal or makes the backyard perfect for entertaining? Are there quality appliances, light fixtures, cabinet hardware, or built-ins that give the home extra charm?

Conversely, if a home has become dated, is situated on a busy street, or has visible damage or noticeable odors, the price may need to reflect these challenges.

If you’re a seller, your Oregon First agent can do a walk-through and get a sense not only of how desirable your home will be to buyers, but what you can do to increase its desirability — and potentially, its selling price.

And if you’re a buyer, you need to understand the true market value of the home, independent of what the seller is asking, which may or may not be reasonable. Too many buyers make the mistake of thinking they got a good deal because they paid less than the asking price, but they may still have overpaid, depending on how high above market value the asking price was to begin with. Your Oregon First agent can pull up information for you on homes that have recently sold in that neighborhood — and help you interpret that information — to give you an idea of the home’s real value.

Price is critical. Make sure you’re confident in choosing a figure based on real value — and for that, you need the kind of information and experience an Oregon First agent can provide.

Please contact us at info@oregonfirst.com to have a broker come out and give you a price opinion on your home; or to help you evaluate the homes you’re looking at as a buyer. We’re here to help.