The science of pricing a house in Herndon isn’t really a science.
The thing about science that makes it reliable is that its findings can be confirmed experimentally. If Galileo drops a feather and a lead weight from the Tower of Pisa to prove something about gravity, anyone else can trot right up there and repeat the experiment. If the results are always the same, we’re in the realm of science.
Pricing Herndon houses may not be pure art, but it’s a cinch it’s not science, either. You can’t repeat a pricing experiment because no two Herndon houses are exactly alike (even the same models in a development are situated differently). And even if you sold the same house two times, the pool of possible buyers is changing all the time; the competitive landscape as represented in the moment’s Herndon listings, likewise; even the news of the day can affect the sales climate.
Further muddying the waters is the emotional component most of us feel for the places we call home. Even after the most dispassionate Herndon homeowner has shed any such baggage, there remain two distinct ways to value a home. There is the value it can be sold for, and there is what it is worth to your own family. Hopefully, they aren’t terribly different; but in any case, it’s the former that’s important when it comes to selling.
Once we accept that no pricing strategy can be confirmed experimentally, the best procedure is to follow some general guidelines that have wide acceptance. I advise my clients to approach the pricing of their Herndon house in several ways--
Pricing your Herndon house properly is just one of the many steps that go into a successful sales campaign. Give me a call to chat about your own situation and goals: there’s never a charge nor any obligation for sharing the latest market information!
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