Last Updated: March 13, 2022

Are You Really Sure What Your Home is Worth?

Written By: Barbara L. Pearce
Money and Coins stacked in the shape of a house

Many people have remained on the sidelines during the current real estate market, despite the craziness of all the stories of buyers and offers.  When sellers don’t use a real estate agent, statistics show that the biggest downside for selling themselves is that they underprice their property.  Although that’s true in a regular market, it is still true today.  Many sellers are hanging back because they don’t think that they can find another home for a reasonable price, if they sell the one they’d like to leave.

It really shouldn’t matter that the new house will cost more than it did a couple of years ago.  If you sell high, you can buy high—you will come out even.  However, what you may not factor in properly are the particular competitive advantages of your present house.  You may have bought it for reasons that no longer apply, and may reap a premium from today’s buyers.  For example, you may live in a town that has lots of youth programs, but your kids are grown.  Or you may live in a place from which commuting is easy in many directions, but you are retired.

It is definitely worth consulting with a professional, to double check your buy/sell math.  You may be looking for aspects in a new place that are easier to find than those you are leaving behind.  You won’t know until you ask, and asking doesn’t cost you anything.  Call your Realtor today, and strike while the market is hot!

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