Hudson WI Setting a Price for a Home

You’ve heard that the recession is over and home prices in Hudson, WI have rebounded. You are finally in a position to sell your home. At least you think so. But how much can you get for your home in Hudson, WI? How do you set a price?

There is no one-size-fits-all strategy for pricing a home in Hudson today. Homes and buyers are diverse, and there are many factors that play a role in how you set a price. When you work with John and Becky, they will do a Comparative Market Analysis on your home and recommend a price based on some of the following information:

1. What have similar homes sold for recently?  – This is key. Buyers will be looking at other homes and comparing yours to the others they have seen. 
2. What is the condition of your home? – Do you have repairs that need to be made? Do you have pet odors? Have you updated your decor in the past decade? If not, you can expect your home value to reflect the work that needs to be done. Keep in mind it’s not just the work and how much it may cost a buyer to do themselves. A home in disrepair makes a buyer think you have not maintained your home and it may be a money pit for them. Most of the time a good cleaning and fresh paint (and maybe carpet and lighting) is all you need to give your home a fresh, updated feel.
3. Your location – Homes on quiet streets in nice neighborhoods get top dollar. Some buyers want a walkable neighborhood, others want more solitiude, but very few buyers are excited about living on a busy street or near noise or smells.
4. Extras that matter – Buyers often look for fenced yards, finished basements, main floor master suites, all bedrooms on one level, garage stalls, and bathrooms. If your home has any of these, it may allow you to ask a higher price.
5. Great staging matters – DECLUTTER! We can’t stress this enough. Buyers will look in your closets and cabinets. If you are busting at the seams with stuff, buyers will have a hard time imagining their things in your home. Pack up all your knick-knacks, family photos, seasonal clothing. Store it in the garage or get a storage unit until you are ready to move. Better yet, have a yard sale and then you don’t have to move it all!
6. WWAS – Or rather, What Would the Appraiser Say? If you price your home high and manage to get an offer, you still have to get your home to appraise or your buyer can’t get financing. This is part of what got us into the recession in the first place, and lenders are very cautious not to lend money to buyers for homes that aren’t worth the price.

How not to set a price? That’s easy. Don’t pay too much attention to your assessed tax value. And we implore you completely ignore real estate websites that claim to estimate your home’s value. They use an algorithm that uses outdated real estate information and they are never accurate. And don’t forget to call John and Becky!