Whatever the reason, you could be overpricing your home when you put it up for sale. Recent studies by Zillow, the Journal of Housing Economics and Quicken Loans confirm that there’s a considerable—and widening—gap between the values that appraisers and homeowners assign to properties.
Sure, you may bump up your price to allow for negotiation, but this data shows that most sellers go beyond wiggle room. Why?
What’s the best way to get an accurate value of your home? Don’t consider what you paid or how much you owe. Those numbers aren’t related to how much a buyer will pay.
Look at your local market’s data. That shows what comparable homes are selling for and how much properties in your neighborhood have appreciated over time. An appraiser or real estate professional can help you access and interpret that information. An objective look at your real estate market will result in the most accurate price for your home.