Riverside Realtor Blog - Alma Dizon

Alma shares her experiences and observations as a Realtor in Riverside California.

Saturday, June 04, 2005

How much can I sell my home for?

This is a question I get asked a lot via email, so I thought I'd go ahead and answer it here. First off, don't use the average square footage value for your zip code or try to base a number on recent sales as reported in your local newspaper. The average square foot values will only give you an idea of the general trend for a large, geographical area. Also, I find many errors in newspaper accounts of recent sales as they often use title co. reports with old data (even for houses with permitted additions!) and rely on less than perfect data entry. You should request a comparative market analysis from a realtor who is a member of the multiple listing service for the area. A good comparative market analysis will give you the last 60 days of data for properties that are of a similar to your own (+/- 200 sq. ft. , +/- 10 years, similar bedroom and bathroom count, similar amenities, within about a 1-mile radius, etc.). Looking at how long such properties took to sell, if any expired without selling, and seeing how the current listings are priced will help you figure out where to set your own price.

I have started a new Ask Alma Real Estate Forum, where I post answers to common questions I receive via e-mail and I will answer real estate related questions. You are required to register.

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