For Buyers and Sellers

Determining Price

Oregon First, Realtors® & Washington First Properties

How do you know what your home would sell for?
How do you know how much to offer for a home?

There are numerous online resources for determining the value of a property, and they can be a good starting point. However, each home is unique, even if it sits in a neighborhood of similar homes. An impersonal algorithm can offer only a very general picture of a property's true market value.

If a home has had significant renovations an online program doesn't know about, the importance of having an experienced agent help determine price is obvious. But even if there haven’t been substantial improvements, smaller touches can have a big impact on a home’s desirability, and online algorithms are notorious for not being able to understand these intangibles. 

Have there been cosmetic upgrades such as refinished wood floors or updated countertops? Has there been landscaping that adds curb appeal or makes the backyard perfect for entertaining? Are there quality appliances, light fixtures, cabinet hardware, or built-ins that give the home extra charm? What about the other homes in the neighborhood—are they well-maintained? Does the home have lots of natural light? Is it close to amenities like walking paths and greenspaces?

Conversely, if a home has become dated, is situated on a busy street, or has visible damage or noticeable odors, the price will need to reflect these challenges and online programs aren't going to know about these. 

If you’re a seller, we can do a walk-through of your home and get a sense not only of how desirable your home will be to buyers, but what you can do to increase its desirability. There are plenty of inexpensive things you can do to increase your home's appeal, and a good agent can bring their fresh eyes to the situation to give you good advice. 

If you’re a buyer, we can help you understand the true market value of a home, independent of what the seller is asking, which may or may not be reasonable. Too many buyers make the mistake of thinking they got a good deal because they paid less than asking, but they may still have overpaid depending on how high above market value the asking price was to begin with. We can pull up information for you on homes that have recently sold in that neighborhood, and help you interpret that information, to give you an idea of a home’s real market value.

Price is critical. Make sure you’re confident when choosing a figure based on real value, and for that, you need the kind of information and experience we can provide. Please contact us to come out and give you a price opinion on your home; or to help you evaluate the homes you’re looking at as a buyer. We’re here to help.