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Selling your home

What's a realistic asking price?

One neighbor’s house sold in two weeks. Another’s has been on the market for months. And as much as you want to sell, you want to get the best price you can. So how do you decide what your home is worth?

You can check public records to find out what other homes in your neighborhood have sold for in the past year. You can also consult with a real estate agent.

Keep in mind that even if comparable houses are selling in a particular price range, there are many other factors that affect the price you can get:

  • Real estate market conditions
  • Interest rates
  • Time of year
  • Number of homes for sale in your area
  • How quickly you need to sell
  • Quality of the school system
  • Location, such as proximity to mass transit or parks
  • The condition of your neighborhood
  • Size of your property
  • Your home’s style, condition, age, and décor
  • Improvements and upgrades you’ve made, such as an additional room, a swimming pool, or a finished basement
  • Improvements that need to be made
Remember, potential buyers will almost always try to get you to lower your price. So be prepared to negotiate.
Insurance issued by the Prudential Insurance Company of America, Newark, NJ, and its affiliates. Each is a Prudential Financial company that is solely responsible for its own financial condition and contractual obligations. Our policies contain exclusions, limitations, reduction and terms for keeping them in force. A licensed financial professional can provide you with complete details. The availability of other products and services varies by carrier and state. Prudential Financial, its affiliates, and other financial professionals do not render tax or legal advice. Be sure to consult with your personal tax and legal advisors.

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