How to Price Your Birmingham, AL Home For Sale

If you’re getting ready to sell your Birmingham, Alabama home, it’s time to figure out your asking price. This is basically the price that you set your home for sale, the list price. From there, buyers will make offers and aim to negotiate before you land on a mutual selling price.

In today’s blog post, we’ll go over how to figure out your list price in Alabama.

We’ll start by addressing the main problem sellers face in setting a price, and why overpricing is so common.

Then, we’ll look at the three main ways to figure out an accurate price and set your asking price for your Birmingham, Alabama home.

Finally, we’ll offer an alternative solution to going through this tedious, time-consuming process! Let’s dive right in and get started.

How to Figure Out Your List Price in Alabama

One huge problem when you’re ready to sell your home is overpricing. The root cause of this is that YOU love your home. Since you’re emotionally attached, it’s sometimes hard to separate facts from dreams when setting a price.

If you can set your emotions aside, you’ll be able to set a price and sell your house faster. But how do you go about setting a price without your emotions involved?

The best way to do this is to gain a clear understanding of the actual facts surrounding your home’s current value!

Here are three ways to understand your house’s true value and set a fair asking price for your Alabama home.

Look At Location

Your house’s location makes an impact on its value! Things like how close your house is to dining, schools, and entertainment all play a role in your home’s overall value. Especially in Birmingham, AL, buyers will consider location.

More specifically, location factors like busy streets, corners, or quiet and private driveways all make a difference too.

Other location factors include your neighborhood’s economic and crime statistics. These things not only influence your home’s value, but can impact the way buyers view your home and what they are willing to offer.

Examine Comps

A real estate agent will be particularly helpful in this area. Comps, or comparables, are the prices of similar and recently sold homes in your area.

These comps should be within your same zip code or even neighborhood. They also should match up with the characteristics of your house, like construction year, number of rooms, and lot size.

Comps also represent competition, so they can provide you with a good estimate of what your asking price should be.

Evaluate Your Home’s Current Condition & Complete Any Necessary Updates

Every house is different. Your home’s unique condition impacts its current value.

If your home isn’t in good shape, you may need to lower the price in order to sell.

On the other hand, if you’re willing to invest in making some simple improvements, you could raise the asking price. Be aware of how quickly this can become very costly, though! Many times, Alabama sellers invest in updates only to find out that it didn’t make much of an impact on the final sale price.