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# One Minute Money: Home Asking Price

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## Video: One Minute Money: Home Asking Price

[Watch (HLS stream): One Minute Money: Home Asking Price](https://cdn.jwplayer.com/manifests/jWth1RMF.m3u8) (1:25)

![One Minute Money: Home Asking Price](https://cdn.jwplayer.com/v2/media/jWth1RMF/poster.jpg?width=720)

_Published 2015-02-12. Looking to sell your home? MONEY's Kristen Bellstrom has some ways to make sure you get the most value for your house._


---

Jul 27, 2023 4:54 PM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

[One Minute Money: Best Mortgage Rate](/video/lD8FDdUi/)

### One Minute Money: Best Mortgage Rate

[One Minute Money: Buying a New Home](/video/FLYpv6pB/)

### One Minute Money: Buying a New Home

[One Minute Money: Budgeting Made Easy](/video/baHOIlxf/)

### One Minute Money: Budgeting Made Easy

---


## Transcript

Ready to put your home on the market? Choosing the right price tag for your place will make all the difference. I'm Kristen Bellstorm and your money minute is starting right now. [ MUSIC ] To find the right dollar figure, you'll need to get a sense of what the competition i. e ., your neighbors are doing. Ask your real estate agent to put together a comparative market analysis. This report should include the original list price, actual sale price, and time on the market for all nearby homes that were recently sold. You wanna pay special attention to houses that changed hands during the last three months, but it's worth looking at a full year of numbers.

Next, get a sense of how your house compares. Walk or drive by any nearby homes that recently sold. And spend a couple of weekends visiting open houses in your area. If you're still unsure or are selling without the help of an agent, consider getting an appraisal. Yes, you'll pay $ 400 to $ 500, but you'll get a very clear picture of how a mortgage lender would likely value your home. Now you're ready to set a price. When in doubt, go low. Underpricing slightly might help you attract multiple bids. Two weeks and still no offer? Don't wait. Start cutting your asking price now. Trim up by around 5 %.

That should be enough to catch buyers' attention. And that is 60 seconds well spent. [ MUSIC ]

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