Kalamazoo MI Real Estate - What is My House Worth?

by Joel Nelson Kalamazoo Realtor

Don’t make the mistake of pricing your house too high or low for the market.  Learn how to set the most effective price for the quick sale of your Kalamazoo area home at the highest potential profit. 

SPECIAL REPORT:

Get the Best Price for the Sale of Your House in the Kalamazoo MI area.

It is a big decision to make.  Now that you have made the decision to sell your home how do you get the most money for it.

First you want to find other homes on the Kalamazoo MI real estate market that are similar in age and size that have recently sold in your neighborhood.  Kalamazoo Realtors refer to these as SOLD COMPS, meaning comparable homes that have recently sold.

You want to find at least three homes as close to your home as possible (within a 1/2 mile in town or within 3 miles if you in a rural area) that have the same number of bedrooms and bathroom, as well as similar square footage.  The closer the properties that have recently sold are to your property the better comparison it will be for the price you can expect for your home.

It is best to find homes in Kalamazoo Michigan that are approximately on the same sized lot and the same age as well.  To get comparables you can contact a local title company or a local real estate agent.

It is best to ask for 6-10 comparable properties from the Kalamazoo MI real estate market area when asking for comparable statistics.  Most agents and title companies will be happy to fax these over for you to view or send them via email.

Once you have the property addresses it is a good idea to drive by these other properties to see how they compare visually to your house. 

Ask yourself the following questions and take notes on them:
Is the property in better or worse condition than mine? (does it need paint, a new roof, fencing, etc.)
Are there any noise problems by the property that would lower the value. (busy street, railroad, industrial area)
What is the immediate curb appeal? (Do you feel drawn to the house, does it have character?

Make notes on each house as it is easy to forget details when you drive by many houses in one day.  You may even want to take photos of the houses for future reference.

When you have narrowed the comparables down to the 3 or 4 houses that most closely resemble your own property, take and add up these properties sale prices.  Then add up the square footage for the properties.  

Now find the average sale price by dividing the sales price by the square footage.  You know have the average price per square foot. 

Next simply take the average price per square foot and multiply it times the square footage of your house.

This will give you a good estimate on what you can expect to set for a fair price on your house.  This process is very similar to what is done when an appraisal is done on your house. 

If you are interviewing Kalamazoo MI area Realtors, like myself Joel Nelson to list, market and help sell your home, it is best to have them do a comparable analysis for you as part of the interviewing process.  It will not take them much time and they will be happy to do it for you to help win your business.

When you have a figure to go by you need to look at your needs for selling the home.  The price you want to set for your home is partially determined by your need to sell the property.

If you need to sell fast then take the figure you have come up with and lower it by 3 to 10 percent depending on how fast you need to sell.

If you are just testing the Kalamazoo MI real estate market and are not in a hurry to sell your house you can ask more than the average that you came up with.  But remember, "giving it a try" in this market will result in no sale.  We're in a buyers market and competition for the buyers is fierce.  There is a big difference between placing your house on the market and MARKETING YOUR HOME.

Keep in mind selling your home in the Kalamazoo MI area is effected by simple supply and demand.  You want to receive as much for the price of your home as possible.  The buyer wants to get the lowest price they can.

Remember, it only takes one person that falls in love with your house to buy it, but if there are better properties on the Kalamazoo MI real estate market than yours, your house will sit on the market longer than you may desire.  Price is critical. 

Follow this formula for setting your price for the sale of your house.  Talk to other Kalamazoo Realtors and get their opinions, but remember the final decision on pricing your house is totally up to you.

If you are considering selling your Kalamazoo MI area home, one of the best first steps you can take is to ask me to send to you a FREE online market price evaluation.  Simply complete the form below and I will send to you via email a market value analysis using comparable homes in your neighborhood that are currently for sale and those that have recently sold.

Never a hassle.  Never an obligation.

Just complete the form below, provide your correct street address as well as your correct email address and I will provide the evaluation to you within a day or so.

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 Tags: Kalamazoo MI Real Estate, Homes for sale Kalamazoo MI, Kalamazoo Realtors, Joel Nelson, Kalamazoo MI Homes

Article's Author

Joel Nelson
Keller Williams Realty - Kalamazoo
Kalamazoo, MI

Contact Joel Nelson