Establishing a reasonable and profitable listing price for a home is perhaps the greatest challenge for every home seller. Before coming to a final figure, many sellers ask themselves: "The home down the street sold for a great price; can I price my home in the same ballpark?" "What is the highest price I can achieve in this market?" Many factors must be considered before settling on a listing price. I recommend that you take the following steps before setting an asking figure.Ask me for a CMA. I can provide you with a written competitive market analysis (CMA). This will provide a list of recent sale prices of similar homes in the area (with comparable numbers of bedrooms, baths, square footage and lot size), the asking prices of homes currently for sale nearby and other important information. I can provide you with a professional estimation of a legitimate selling price.Take the Emotion Out of It. I will evaluate the location, condition and size of your home. A house in a secluded, exclusive area may appeal to some, while others will want to be closer to schools, shopping and health care facilities. What is the physical condition of your home? Is it a fixer-upper? Does it make a good first impression (the ever important curb appeal)? Will it appeal to a growing family, or is it better suited to empty nesters?Determine If It Is a Buyer’s or Seller’s Market. Real estate markets vary from neighborhood to neighborhood. Home inventory, mortgage interest rates and the local economy play a role in determining whether the buyer or seller has a negotiating advantage. Interest rates remain at historically low levels and financing is available for those qualified, putting buyers in a good position to achieve homeownership.Do the Math. Do not forget to figure in closing costs, legal fees and other selling expenses when determining the selling price. I can provide cost estimates, and negotiate with a potential buyer to ensure a good sale price.Give It the Once Over. There is one more step to ensure that the house sells for your price, or more. Do as much as possible to improve the home's appearance: touch up the paint, fix leaks, seal any cracks, clean up the clutter, and eliminate pet odors. The house has only one chance to make a first impression.For more information, please feel free to contact me. 732.245.4031