To
sell a home quickly, real estate agents advise clients to find
out the sale prices of other properties in the neighborhood.
Comps may not be available, however, in an area that has not
had any recent home sales. In those instances, sellers will
have to price a little more creatively. While they still may
want to take comps into account, they also will want to
consider other factors.
When sellers ask too much for a
home, they will find prospective buyers comparing it to
larger, nicer homes priced in the same range. Inevitably, they
will receive a less desirable bid. At the same time, sellers
should up their asking price if less expensive, less desirable
homes are selling for more than their typical market value.
"Selling Your Home? Check
the 'Comps'," Washington Times (06/29/01) P. F7; Reeves,
Pamela.
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