Jennifer writes: How do I decide what I should list my house for, if I want it to sell fast?
Welcome to the real investing show with Tim Herriage. Each day, we’ll provide real investing for everyday investors. Tim is a nationally recognized real estate investing expert podcast, host and public speaker. He built his businesses from the ground up and is here to help you do the same. Here is your host Tim Herriage.
Welcome back to real investing. I’m Tim Herriage. Thank you so much for stopping back by if it’s your first time welcome. I’m Tim Herriage. Let’s figure out what we’re talking about today. Jennifer writes, how do I decide what I should list my house for? If I want to sell it fast? Ah, Jennifer, I don’t think you should do that, but I will answer your question. Um, you should list your house for what it’s worth, and it sounds stupid, but you would be amazed how many people own a 2000 square foot house? And they hear that Billy down the street sold their house for $500,000. And they say, well, I like my house more than Billy’s house. I’m gonna sell my house for five 50. And they don’t realize that Billy’s house, even though it was ugly or painted wrong or whatever, it had a thousand square feet more in it. Right? Like, and so the math is just the math. So I’ve been telling investors a lot lately. You’ve got to get back to discipline. You’ve got to get back to fundamentals. You’ve got to get back to making sure that you’re using the average of the sold comparable listings in the last 90 to 180 days. And if you don’t have access to that data, you don’t know where to get it. You need to get a good realtor and a realtor that will show you a comparative market analysis.
And I always say, you start it, what it’s worth. And what it’s worth is the average of the three most recent comps. Now in today’s environment, we are still seeing bidding wars, but the bidding wars don’t happen. If you over list it, if you over list it, you’re gonna run people off. They’re gonna think, ah, it’s just another one of them. But if you’re priced next in line, right? If you’re priced as the proper pricing, buyers still have fatigue, they will make a winning bid. They will go after the house telling you it’s happening all across the nation, still Jennifer. So you should price your home for what it’s worth, which is the square footage. Times the dollar per square foot of the three, most recent sold comps in your area. If you don’t know how to determine that you should get a good realtor and a realtor that shows you math and data, not ask you what Billy sold his house for Jennifer hopes. That helps if you have any questions. I love this kind of question. I think people gotta get back to basic basic skills in real estate investing. And this is one of them. If you’re out there and you have questions hop over to IHavelunchmoney.com, submit your question. I will do my best to answer it. Thank you for spending time with me today. I will see you tomorrow.
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