How to Price Your Home Like a Savvy Seller
First, let’s think like an appraiser, because bottom line, they will have the last say! Appraisers have a complex system for determining home value, which accounts for the home’s condition as well as the values of similar houses in the areas. Use this site as a resource to get the latest sold listings in Lake of the Woods, VA so you can stay savvy like the rest of us and make the most out of your investment!
Home pricing is more of a science than an art, but many homeowners price with their heartstrings instead of cold, hard data. Smart sellers know that crunching the numbers is always the better route to an accurate home price. Here’s how they do it.
4 things home sellers do when pricing their homes.
Avoid Overpricing
You lose a lot of time and money if you don’t price it right. It’s hard to remove the sentimental value and look at the hard data for some seller’s. Times are changing and some buyer’s are looking for main level living or a multi-generational homes to fit the entire families’ needs. So look to the facts of what is being sold and what buyer’s are out there. Also take into consideration when you are listing your home. Generally speaking, in the middle of the summer, the market can get saturated meaning some seller’s will have to adjust their price to stay competitive.
Another culprit for many misrepresented home values is online tools, like Zillow’s “Zestimate”, that prescribe an estimated market value based on local data. For example, In Lake of the Woods VA, the local data collected doesn’t always take into consideration whether you have waterfront, golf-course access which can be an added value and luxury. These estimates can be wildly inaccurate so use these online values as a tool but also integrate the actual sold data of your neighborhood into the final decision for pricing your home.
Don’t Expect Dollar-for-Dollar Returns
Major remodels and additions can inflate the square footage and the price without accounting for the surrounding neighborhood. That can create a disconnect for buyers: Wealthier ones who might be interested in the upgraded home disliked the neighborhood, and less affluent buyers couldn’t afford the asking price. That’s not to say that renovations aren’t worth it. You want to enjoy your home while you’re in it, absolutely! Smart renovations make your home more comfortable and functional but should typically reflect the neighborhood.
Use Comparable Sales / Neighborhood Home Values
Of course, the best pricing strategy is to consult a local real estate agent. These professionals have access to the MLS/ listing database and can provide you the results on what is currently on the market, what is under contract and what has recently sold. They’re not just looking at your neighbors; they’re seeking out near-identical homes with similar floor plans, square footage, and amenities that sold in the last few months. They can make an accurate estimate of what you can expect to receive for your home.
Realtors can provide you this information and help you to determine a fair price that’ll entice buyers. Keep in mind, the number might be less than you hope and expect, but by listing your home correctly (not idealistically), this is a sure way to avoid the aches and pains of a long, drawn-out listing that just don’t sell.
Adjust the Price When Needed
Once your home is on the market, you’ll start accumulating the buyers reactions and feedback to your home and price. If you don’t see a lot of showings in a neighborhood where the buyer’s are looking, you may be overpriced. When it comes to finding a buyer for your home, pricing it according to data is crucial to making the sale. This is the most accurate information available. What could come in to play that the buyer’s want: more updates, location, main level living, basements and amenities.
To request a personal Home Value Report – Let’s go HERE
SOLD Homes in Lake of the Woods
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Lot Size
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Home Size1,160 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1990
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Days on Market18
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Lot Size15,682 sqft
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Home Size1,236 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1987
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Days on Market25
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Lot Size26,136 sqft
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Home Size3,695 sqft
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Beds6 Beds
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Baths4 Baths
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Year Built1982
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Days on Market19
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Lot Size18,296 sqft
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Home Size4,040 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1986
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Days on Market23
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Lot Size12,197 sqft
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Home Size1,727 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1978
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Days on Market25
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Lot Size
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Home Size1,484 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1980
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Days on Market25
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Lot Size16,553 sqft
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Home Size2,200 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2016
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Days on Market41
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Lot Size16,118 sqft
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Home Size1,656 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1978
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Days on Market23
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Lot Size22,652 sqft
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Home Size2,136 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built2022
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Days on MarketN/A
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Lot Size
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Home Size2,690 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1987
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Days on Market36
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Lot Size16,553 sqft
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Home Size1,354 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1975
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Days on Market39
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Lot Size
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Home Size892 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1991
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Days on Market39
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Lot Size
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Home Size900 sqft
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Beds2 Beds
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Baths1 Bath
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Year Built1965
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Days on Market14
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Lot Size15,682 sqft
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Home Size2,800 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1978
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Days on Market35
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Lot Size22,652 sqft
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Home Size2,433 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2013
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Days on Market38
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Lot Size13,504 sqft
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Home Size1,342 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1985
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Days on Market38
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Lot Size14,811 sqft
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Home Size2,171 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built2000
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Days on Market60
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Lot Size
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Home Size1,068 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1985
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Days on Market65
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Lot Size14,811 sqft
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Home Size1,860 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2022
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Days on Market44
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Lot Size20,474 sqft
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Home Size1,152 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1965
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Days on Market50
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See all Real estate matching your search.
(all data current as of
5/23/2022)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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