When it comes to selling a home in Brooklyn, there is good news and bad news. As of July 2011, home sales increased five percent in the Brooklyn, New York area. However, home values remain lower than they were a year ago. The average sale price of a Brooklyn home was $515,000 which represents a $10,000 decrease over sale prices in 2010. Although the market seems to have calmed down in recent months, you still need to be smart about pricing if you want to sell your house in Brooklyn. Here are a few tips for pricing your home to sell.
House pricing is a delicate balancing act. If you price your home too high then you will scare off potential buyers. If you price your home too low, however, then you will not receive the full value of what your home is worth. This can be especially heartbreaking if you are upside down on your home loan like many people today. The first step in determining how much to sell your home in Brooklyn for is to research how much homes similar to yours sold for in the past few months. This information can provide a basic number to start with that you can adjust according to other factors.
The next step is to get your home appraised by a certified appraiser. You need to know what your home is currently worth which is influenced by the values of homes in the surrounding area. While homes similar to yours may be selling for one price in the Brownsville or Brighton Beach neighborhoods, your home may be worth more or less depending on where you are located. It is helpful to be familiar with the benefits of living in your neighborhood because you can potentially sell your house in Brooklyn for a higher amount because of local amenities a home buyer will not be able to get anywhere else.
Lastly, get the opinion of a real estate agent. They are mired deep in the housing market and can often provide you with an idea of how much the home will actually sell for. This number can fluctuate based on the balance of supply and demand of homes in your area. If the real estate agent is getting a lot of clients asking for homes in your neighborhood, then you may be able to sell your house in Brooklyn for more simply because of this increase in demand. Consider all of the factors and then pick a number you are comfortable with.