5 Quick Tips for Pricing Your Home for Sale in the Greater Cleveland Area

Dated: 10/10/2018

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When you put your home up for sale in Northeast Ohio, one of the best ways to determine the asking price is to look at recent home sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in your Greater Cleveland neighborhood.  

Pricing Your Northeast Ohio Home

Here are five quick tips to look for in relevant Northeast Ohio Home Sales.

  1. Location: Homes in the same Greater Cleveland area neighborhood typically follow the same market trends. Comparing your house to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

  1. Date of sale: It‘s best to use the most recent sales data available. Most home buyers will secure a loan to purchase a house, and the lender will hire an appraiser to provide an opinion of value for the mortgage. An appraiser will use the most recent sales, the closest houses, similar lifestyle upgrades, and improvements.

  1. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

  1. Home Improvements: When comparing home improvements, ensure the improvements are similar in nature. For instance, a bungalow house that had a two-story addition is quite different than an enclosed porch. 

  1. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.

Bonus Note: Buyers expect the mechanics and major components of a house to be in good working order. So, while you may not receive a higher sale price for a new furnace, roof, or windows, replacing mechanic systems and major components can help decrease the sale time, eliminate issues with inspections, and ensure a sound appraisal.

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Christine Pappas

Long ago I heard this crazy stat that 50% of home buyers did not like the house they bought - I cringed! Buying a home is not like buying a pair of shoes, you can't simply return a house. I truly wan....

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