Sellers shouldn’t be overly swayed when they read that home prices have gone up a declared percentage in their areas. That doesn’t necessarily mean that their homes increased in value by that stated amount. The fact is that reports of increases and decreases in home prices are typically quoted as changes in the “median home price,” which is the price that is midway between the most expen- sive home and the least expensive home in the area during a specified period of time. During that time, half the buyers bought homes that cost more than the median price, while another half pur- chased houses below the median price. When buyers purchase more expensive homes than less expensive ones, the median price rises.
When determining the appropriate price to ask for real estate, numerous factors must be taken into consideration. Every property is unique, and the fea- tures and location of yours will help to determine the best asking price. To arrange for a meeting to discus the sale of your home, contact me today. The office is located at 1199 Amboy Ave., Edison.
HINT: Each home for sale should be realisti- cally priced on the basis of how it uniquely compares with recently sold homes in the immediate area of similar size with similar features.