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What Determines the Sale Price of a Home?

Louisiana REALTORS® • March 16, 2023

Arguably the most critical step when it comes to selling your home is setting an accurate and appropriate price. The same goes for buying a house. It is very important that you understand what a fair price is for the property you are potentially buying.  REALTORS® offer much value in helping both home buyers and home sellers calculate and consider pricing. Here are three things that influence the price of a home.


Age & Condition of the Home

These factors are imperative when it comes to determining the future cost of ownership. In terms of maintenance, older homes could require more work and money in the long run. The foundation, electrical work, structural integrity, plumbing and overall age should be strongly considered from the perspective of both the home buyer and the seller, and the price or offer should reflect it. 


Historical & Comparable Real Estate Sales

Looking at the historical sale prices of an older property, combined with the prices of homes in the area of comparable size, age, and condition can provide a consistent baseline for both setting a price, and negotiating an offer.


The Property’s Location

Everything from the market to the neighborhood to the schools to nearby attractions and amenities will dramatically influence a home’s price. Convenience, economy, and education are all major considerations for a buyer. 


While buying and selling a home is a big decision, the success of that decision ultimately comes down to price. How much do you pay, or how much do you get? Trusting a REALTOR® from either side of the transaction will help ensure you get exactly what you need.

RESOURCES FOR SELLING YOUR HOME

Consumer Guide Update: Preparing for Homeownership

By Louisiana REALTORS® • February 19, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on preparing for homeownership. This guide covers what prospective buyers should consider as they kick off the home purchase process, including the importance of credit scores, mortgage pre-approval, down payments, budgeting, and educational resources. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Preparing for Homeownership Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with potential clients to ensure they have the information they need to be successful in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property taxes.

Consumer Guide Update: Escrow and Earnest Money

By Louisiana REALTORS® • February 14, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on escrow. This guide covers what homebuyers should know about earnest money deposits, including the general terms and use cases in real estate transactions. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Flood Insurance Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover preparing prospective buyers for homeownership.

2026 LR Officer Elections, RVPs & NAR Director Applications

By Louisiana REALTORS® • February 12, 2025
The Louisiana REALTORS® Board of Directors will conduct several elections this Spring. Interested candidates that meet the qualification who are looking to serve at either the state association level or the national association level are encouraged to view the criteria and submit an application. An application that is not submitted on the appropriate form or not submitted pursuant to the instructions shall not be considered as submitted timely.
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