The price of your home depends on a variety of factor, including its condition, location, and the overall housing market. On this episode of The Marc and Mandy Show: Expert Q & A, Todd Talbot shares advice for pricing your home for sale.
Q: Why is my home’s assessed value different than what I think it’s worth?
Todd Talbot: Assessed value versus market value or an interpretation of what market value is are two different things. Number one, the city assesses a piece of property quite a while ago, so depending on where it sits in the calendar year. And they’re using a different set of criteria than buyers are using, so those two numbers can differ and oftentimes they do. They rarely line up.
Q: Should i price my home higher to leave room for negotiations?
Todd Talbot: In my opinion, it’s not a great tactic to use. I think you try and figure out what market value is and then expose that number to the most number of people and get those people through. People always get scared to price their property too low, but if you’ve priced it too low there’ll be a whole lot of people who are interested in it and then you’ll have a multiple offer situation and ultimately you’ll get the price that’s fair market value.
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