How can I get an estimate on the asking price of my house?

I am a Seniors Real Estate Specialist, SRES, so downsizing is most of what I do, and here is where I would start: get the price estimate, but do not stop there, because for a downsizing move the number that decides everything is not the asking price. It is what you actually walk away with, and there is a federal tax rule that usually makes that number better than people expect. First, the estimate itself. Ask two or three local agents for a comparative market analysis. Others here already said this and they are right, it should be free and carry no obligation. One thing to insist on: make them show you the actual recent sales they used and explain why those homes are comparable to yours. A price without the comps behind it is a guess dressed up. And ask each of them for a seller net sheet alongside it, so you see the price minus commission, New Jersey transfer tax, attorney fees and payoff. Now the part nobody mentioned. Under Section 121 of the tax code, if you have owned and lived in the home as your primary residence for at least two of the last five years, you can exclude up to $250,000 of capital gain if you file single, or up to $500,000 if you are married filing jointly. For a Collingswood house held for a long time, that exclusion very often covers the entire gain, meaning the appreciation comes to you tax free at the federal level. Gain above the exclusion is taxed at long term capital gains rates. Why this matters for a downsizing decision specifically: it changes what you can afford next. People routinely assume a large tax bill, shrink their budget for the next place, and settle for something they do not really want. Run the actual math before you set that budget. Two things to gather now, because they take time: - Records of what you paid and what you have spent on capital improvements over the years. Improvements raise your basis and reduce your gain. Old receipts have real cash value here. - If you are widowed, ask specifically about the basis adjustment on your spouse's share and about the window for using the $500,000 exclusion. The rules are favorable and time sensitive, and this is the single most commonly missed item I see. The pattern I see over and over in SRES work: people focus hard on the sale price and hardly at all on the sequencing. Where you are going, whether you can buy before you sell, and how you handle forty years of contents matter more to how the move feels than the last five thousand dollars of price. I am a real estate professional, not a CPA or an attorney, so confirm the tax side with your tax preparer, and note that New Jersey closings run through attorneys, so yours should be involved early. I am Zoltan Peresztegi, SRES, and I serve Los Angeles and the South Bay in California, so I cannot handle Collingswood myself. If you would like an introduction to a South Jersey agent who does downsizing work well and gently, I am glad to make one. Zoltan

Speaking with a local agent will get this process started for you. You can use the agent directory on this website to start your research. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

HI Nina, the easiest way is to have a local agent run a comparative market analysis (CMA). That’s where we look at similar homes that have sold recently in your area, along with what’s currently on the market, to get a realistic price range. Online estimates like Zillow can give you a rough idea, but they’re often off because they don’t account for condition, upgrades, location within the neighborhood, etc. In short - Zillow has never seen your home or been inside. If you’re thinking about downsizing, the best first step is usually to get a quick valuation done so you understand what your house could sell for and what your options might look like on the buying side. Most agents are happy to do that with no obligation.

Request a comparative market analysis from a local real estate agent. They’ll review similar recent sales, current competition, and market trends to give you a reliable estimate.

Hi Nina, There are a bunch of free estimate tools like z-estimate or redfins website. Although they are free they tend to be off by a lot, sometimes anywhere from 10-20%. If you would like a more clear and precise estimate on your home schedule a 30 min strategy call with me. We will provide a detailed analysis, as well as, a NET sheet that gives your bottom line $$ after all expenses of the transaction are paid. Click below to learn more: https://www.movewithmoreng.com/selling-made-easy

You can find out approximate value of your house on this site https://hmbt.co/FjeREr But for more accurate numbers you should interview local professional that can provide to you market analysis including appraisal value.

Hi Nina, I can do a free estimate for your house, I work closely with banks and do broker professionals opinion reports going into depth about pricing, I would be happy to do same for you.

Our team can prepare a comparative market analysis of your home to determined the correct value.