One of the trickiest parts of the home selling process is selecting a list price that's just right. Not just any number will do: if you overprice your home, it will sit idle on the market, and if you underprice it, you miss out on cash and equity that could've been earned in the sale. This is when you need to think like a buyer, scoping out other homes that are for sale or have recently sold in your neighborhood. Hop on Trulia and enter your zip code to get familiar with what's out there – and maybe even swing by a few nearby open houses. Most importantly, work with your realtor to understand and analyze "the comps." They're the only way to truly determine an accurate list price for your home. Remember, this is one case where true value doesn't come from within, it's actually based on those around us.
In the meantime, take a look at Trulia Trulia's quick guide to comparable homes:
1. Apples to Apples: Analyzing the comps entails some detective work. Obviously, your house isn't exactly like every other on the block. It can be far better – or far worse. You have to wade through and pick out comps that truly come closest to yours. Then make note of what similar homes have that your doesn't and what your house has that the comps lack? Consider these comparisons:
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