How Much Do You Think Your Home is Worth?
When I speak to homeowners who consult with me before listing their home for sale, I find the first thing they ask or want to know is, "What Is My Home Worth?" Well, that is a simple question with a potentially complicated answer. I will usually turn the question around and ask them, "What do YOU think Your Home is Worth?" I do this because I want to understand where are they at mentally in the process of selling their home. At this stage, most homeowners have not emotionally detached themselves from their home to look at it analytically (as a house) and, in many cases, will overvalue their home's worth.
The most common answers I get back from a seller is:
- Price based on what the neighbor's house sold