Things have changed for listing homes in Jacksonville, Florida in just a few short years
Before you put your home up for sale or think about listing your home, be sure to use the right comparable sales to find the perfect price with your Realtor.
What price can you sell it for?Usually about as much as the neighborsgot with some exceptions. I know, I know, your home is perfect in every way and should be able to be sold for thousands above your neighbor's... I get it. Let's look at facts though and not the fact that your college-age child once took his first steps in front of that fireplace right over there!
Knowing how much homes similar to yours (the ones that don't have those first steps in),called comparable sales (or in real estatelingo, comps), sold for gives you the bestidea of the current estimated value of yourhome in north Florida. The trick is finding sales thatclosely match yours and it's an art, not a science per se.
What makes a good comparable sale?Your best comparable sale is the same model as your house in the same subdivision—and itclosed escrow last week. If you can’t find that, here are other factors that count:
Location: The closer to your house the better, but don’t just use any comparable sale withina mile radius. A good comparable sale is a house in your neighborhood, your subdivision, onthe same type of street as your house, and in your school district.
Amenities and upgrades: Is the kitchen new? Does the comparable sale house have fullA/C? Is there crown molding, a deck, or a pool? Does your community have the sameamenities (pool, workout room, walking trails, etc.) and homeowners association fees?
Date of sale: You may want to use a comparable sale from two years ago when the marketwas high, but that won’t fly. Most buyers use government-guaranteed mortgages, and thoselending programs say comparable sales can be no older than 90 days.
Even if you live in a subdivision like Waterleaf on Kernan Blvd., your home will always be different from your neighbors’.Evaluating those differences—like the fact that your home has one more bedroom than thecomparables or a basement office—is one of the ways real estate agents add value.
An active agent has been inside a lot of homes in your neighborhood and knows all sorts ofdetails about comparable sales. In our case, we've actually sold over 400 homes in and around your neighborhood if you live in the aforementioned Waterleaf. He or she has read the comments the selling agent put into theMLS, seen the ugly wallpaper, and heard what other REALTORS®, lenders, closing agents, and appraisers said about the comparable sale.