Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Tuesday, June 24, 2025
When you're getting ready to sell your home, one of the most important things we will talk about is the asking price for your house.
While we will certainly focus primarily on the most recent sales in your neighborhood, or the most recent sales of similar homes, there is another critical factor to consider:
What other homes will buyers be comparing to yours?
In many ways, your asking price determines who your competitors are. If you price your home at $425,000, buyers looking in the $400K to $450K range are likely to see your home alongside several others in that same price range. So it's important to ask yourself:
If a buyer toured your home and three other similarly priced homes, which one would they choose?
To answer that question, we'll take a close look at current active listings - and even homes that are already under contract. These are the homes your house will be (or would have been) competing with for attention and offers.
Here are a few things to consider:
[1] How does your home's size and layout compare to others in the same price range?
[2] Are there homes with more recent renovations, new kitchens or bathrooms, or updated systems?
[3] Does your home show as well in photos and in person as the others?
[4] Are there differences in school districts, proximity to amenities, or yard space that might matter to buyers?
Once we've looked at the competing homes, we'll step into the shoes of a buyer. We'll be asking -- if all these homes were priced about the same, which one would we pick?
If your home stands out in a positive way, great - you will likely be positioned well. If it falls short in a few areas, we might want to talk about starting at a slightly lower asking price or make some strategic improvements to compare more favorably to other competing listings.
You can't control the what other homes are on the market for sale (and how they are priced) but you can control how you position your home within that context.
Looking at the homes buyers will be comparing to yours helps ensure your pricing is both competitive and compelling - which can make a big difference in how quickly we can secure a buyer for your home.
While we will certainly focus primarily on the most recent sales in your neighborhood, or the most recent sales of similar homes, there is another critical factor to consider:
What other homes will buyers be comparing to yours?
In many ways, your asking price determines who your competitors are. If you price your home at $425,000, buyers looking in the $400K to $450K range are likely to see your home alongside several others in that same price range. So it's important to ask yourself:
If a buyer toured your home and three other similarly priced homes, which one would they choose?
To answer that question, we'll take a close look at current active listings - and even homes that are already under contract. These are the homes your house will be (or would have been) competing with for attention and offers.
Here are a few things to consider:
[1] How does your home's size and layout compare to others in the same price range?
[2] Are there homes with more recent renovations, new kitchens or bathrooms, or updated systems?
[3] Does your home show as well in photos and in person as the others?
[4] Are there differences in school districts, proximity to amenities, or yard space that might matter to buyers?
Once we've looked at the competing homes, we'll step into the shoes of a buyer. We'll be asking -- if all these homes were priced about the same, which one would we pick?
If your home stands out in a positive way, great - you will likely be positioned well. If it falls short in a few areas, we might want to talk about starting at a slightly lower asking price or make some strategic improvements to compare more favorably to other competing listings.
You can't control the what other homes are on the market for sale (and how they are priced) but you can control how you position your home within that context.
Looking at the homes buyers will be comparing to yours helps ensure your pricing is both competitive and compelling - which can make a big difference in how quickly we can secure a buyer for your home.
