What is my home worth? It's a question I get a lot and the answer is simple, really. Your home is worth what someone is able and willing to pay for it given the current market, current condition of the home, and the buyer's current circumstances. Not quite the answer you were looking for? Perhaps you meant to ask, "What should I list my home for?" And to that I ask in return, how soon do you want to move? Today's market will bear certain prices for certain homes in certain neighborhoods in certain conditions. A little bit of research will reveal a sliding scale of average sold price v. average days on market (DOM) for comparable homes to yours. Any good Realtor should be able and willing to provide you with this comparison, so that you can make an informed choice about the list price for your home.

Part of my job is to set realistic expectations. I don't want to burst your bubble, but I need to be honest so that you are not disappointed when things don't work out exactly as they had in your dreams. As a seller in today's market, you have to be prepared to make some sacrifices. Buyers, this goes for you too, but that's another blog. Sellers, just because it is a buyer's market, does not mean you should shelve all thoughts of moving. On the contrary, by selling now, you take advantage of the great buyer's market with your new home purchase. Don't feel like it's a total loss to sell in this market, but don't expect a very rare and uncommon real estate miracle to happen either. Yes, your house may not sell for the price you wanted, but what are your other priorities? Does your family want to move to another school district before the next school year? Has a job switch caused a longer commute that is killing your gas budget and you want to relocate? Decide what is most important and base your listing strategy on that.

The market speaks to us. Listen to it! If you set your listing price based on anecdotal evidence, a gut feeling, or how much money you want to make in the end, don't be surprised if your house doesn't move as quickly as you had hoped. Just because you put $20K into improvements over the past few years and "feel" it should sell for more than your neighbor's doesn't mean a buyer will agree. Take a good look at the recent solds and their DOMs. Decide how long you're willing to wait to be at the closing table and go from there. Your Realtor will be able to help you with making the best decision.