Are you puzzled with the question “How to define the cost of the house to be sold?” There are a number of strategies that can help you to make a decision in this complicated situation. Here are the most famous of them. 
Review Comparables
The greatest role in determining prices belongs to the comparables. Taking into consideration both art and science, “comps” are supposed to be the very best means for setting the price of the home.
Look at Unsold Homes
You should also take into account such a factor as homes for sale, which have not been purchased yet, though nobody is confident if the house is bought for the set price. It is better to take a look at a current competition. Look for a home most alike to yours and get to know how long it is on the market. Another way is to find residences of famous people and equate with them. In case the house has been more than 30 days on the market, you may draw a conclusion that this price is not appropriate for it. However if you notice the “Sold” sign, get to know the price it has been purchased for. That may give you a hint about a current situation on the market and how you should behave, determining the house value.
Use Square Foot Pricing
You may live in a district where all houses are absolutely different and, in such a case, if there is no house alike to yours, you may apply square foot pricing. You will ask “How?” You should take from 3 to 5 houses, the most similar to yours, calculate the square footage and divide by the quantity of homes. Here you will get an average per square foot for your comps. The next step is to add up the sold price of every home and divide the quantity of houses to get the average. And the last stage is to divide the average sold price by the average square foot in order to obtain the average price a square foot. After you have done this, multiply it by you house’s square footage. This strategy is another means to help you in setting your home value.
Get a Comparative Market Analysis (CMA)
When you made use of the three previous strategies and still want to make sure again, you should consult with a few real estate agents and request a CMA. It does not matter if you use the agent for selling your home, they will gladly give you a CMA aiming at your listing. It is not very expensive to do this.
Get an Appraisal
In case you want some additional reassurance, go to a professional appraiser. It will cost you about $250 - $400, according to the size of your home and exclusivity of your property. They will visit you and list the number of rooms and amenities such as fireplace, gym, swimming pool, etc. Then they will draw comps from the neighboring houses, purchased in recent times. After they have finished with the assessment of your house, the comps and the market, you will be provided with an appraisal. In such a way you will get an evaluation of your property.
| 
