One of the single most important factors to consider when selling North Shore real estate or any property is the home price tag: how much your house is worth. It’s part art and part science, and often no two agents price property the same way. Having an experienced, top performing North Shore real estate agent as a guide certainly provides an edge, but knowing some basics will help shed light:

1. Area competition should be examined. Just how many other North Shore houses are for sale in your area? Are you competing against new or newer homes?

2. Remember comparables. What have other homes in your North Shore neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?

3. Opt for an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute or ask your North Shore REALTOR® for some recommendations.

4. Advice from a lender. Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value.

5. Accuracy is key. Studies show that homes priced more than 3 percent over the correct price take a longer time to sell.

6. Contingencies should be considered. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in one month or four months?

7. Think about what you’ll take. It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.

Feel free to visit our Coldwell Banker Residential Real Estate office for resources concerning your homes worth, or lender options. We are located at 640 Vernon Ave in Glencoe, Illinois-60022, part of Chicago’s North Shore community. You can also request an evaluation at www.gloriamatlin.com

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