Belt Auction

How can I set the asking price of my home when selling it on my own?

I was thinking of these real estate web sites and find similar homes in the area and see what their going for. Should Zillow even be used?

Public Comments

1. check with county clerk to find out what other homes nearby have sold for in last year. they may have a website. buyers know you are saving 6-7%. they will expect your price to be 6-7% below other homes that have sold.
2. zillow will give you an idea of the value of the house at the time of its posting, this can change as you well know, up or down selling your house, you probably want to be able to cover the remaining amount due on the mortgage because the escrow will pay it off first, then you might consider the amount you have invested in it, like the down payment things you have done to improve the house unless is has made the house more valuable, will be more or less living expenses as well as the small amount that your mortgage payments made toward the principal unfortunately, today the market value of a house hardly reaches the mortgage that remains on the house, so your pricing will probably be very tenuous
3. Zillow seems to be about 25% on the high side for estimates. What I did was I figured out what I could get for an annual rent and multiplied it by six. This is a good ballpark with the housing market being down. I had three other appraisals on the house and two were lower than this amount, but I was able to sell it at my asking price no prob. Some people go with 100x monthly rent, but this is hard to get right now. If two or more people have sold on your block in the last year or so though, you will get a closer number from Zillow.