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Determining the Selling Price

Home prices are determined by numerous criteria. Factors such as current market trends, the number of available homes for sale in the area, mortgage interest rates, and the urgency of the seller have an overall effect on arriving at a sales price. There are other more specific things to consider.

• The recent selling prices of comparable homes in the area, the asking price of similar houses under contract, and the listing prices of equivalent homes currently for sale in the vicinity.

• Major improvements to your home such as an addition, a pool, or outbuildings can add to your selling price, but perhaps not to the extent of what you paid for them.

• Interior and exterior amenities can be beneficial to selling your home and will likely increase your selling price.

• The general condition of your home’s interior and exterior is very important and can either increase or decrease your selling price.