Now that we have gone through what we need to consider regarding appraisers and buyers, we can look at the other aspects we need to consider to come up with a price for your home.  

We will take a look at homes that are similar to your home that have sold in the last 6 months.  This is referred to as comparables (though that is not really a word).  We will consider active and pending, but focus mostly on the closed properties, because that is what the appraisers are going to use to determine their value.  So, what do we mean by comparables and what are the best ones to look for?

First, we need to consider location.  Primarily we are looking at the market in the school district that you live in, if we can narrow this down to your township even better, and if we can get down to your neighborhood and block to find comparables, that's even better.  The BEST comparables come from the homes closest to your own.

Second, style.  We need to find homes that are the same or similar in build to your own.  Do you own a rancher, then we are looking for other ranchers. A colonial then colonial, and so on.  Now, what if we can't find another one that is your style? (In a market where there are few listings this is a possibility.) In this case we are going to go to the next best thing, if you own a spit foyer for example, some other bi-level homes or a rancher with basement might be an adequate substitute.

Third, square footage.  We are especially looking for homes that have a similar above grade sq/ft amount to your own.  Above grade square footage is anything that is finished square footage and is at or above ground level.  Finished basements are good, but they are not weighted as much as finished above grade sq/ft. Typically, I'm looking for something within 250sq/ft of your own.

Number of bedrooms and bathrooms.  We are looking not only for homes that have a similar amount of square footage, but homes that have used the square footage in a similar way.  

Kitchen and bathroom updates:  While updated kitchens are not necessary.  They can be very appealing to buyers, and an updated modern kitchen will certainly add value.

Garage space:  Parking can be a huge consideration for buyers, the amount of garage parking spaces can add value to your home.

Lot size:  The amount of acres you have is certainly something you consider; however, this is something that often will only come into play if there is a significant difference in the size of the lot.  There really isn't that terribly much difference in 0.33 acres, and 0.50 acres when it comes to value.

Intangible upgrades:  Did you put a stone patio in the backyard, build a large composite deck,  or put in a detached workshop or garage?  Install central air, or build a stone fireplace?  That will certainly give you more value.  But one note, sometimes pools don't work this way.  Pools can be kind of like the old saying with beauty, "It's in the eye of the beholder."  One buyer might love the idea of a pool while another may not be able to get back in their car quickly enough.  For the most part though, a well landscaped and well maintained inground pool area will give you extra value.  Above ground pools will not.

These are the primary things I am looking for when I find comparable to your home, and those comparables will then guide us to a price.