Here's something you realtor will rarely tell you--the value of your home is not what you want or even what you need. The value of your home is determined by what a typical buyer will pay for it. So you have to ask yourself what the typical buyer will pay for your home, and how you can increase your odds of getting the most money possible for your home.
The first thing you need to do is get a good market analysis of your home. A market analysis is best done by a Realtor or appraiser who really knows the area. If times are tight, most realtors will offer a 'comp' (market comparison) for free. A comp will give you a general idea of the price. To be more accurate, you can hire an appraiser who will give you a solid market analysis for a fee. The fee may seem like a lot but if it gets your home priced right and sold quickly, worth it's weight in gold! An appraiser will come to your home and take the cold hard look at it with zero emotional attachment. After you settle on a selling price for your home you need to make it the best home in the neighborhood, aka “best in class”. You may have some great wall paper that you just love from the 1970’s but it will most likely turn off buyers. Fix everything you can because it will cost you more if you don’t. Always Always Always bring your best house to the market. If you have any question in your mind about this take a drive to your nearest builder model and take a good look at it. Notice that the carpets are clean, walls are freshly painted and the home is decorated. It is their business to sell homes quickly and it should be yours too.
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Any investment can be overpriced no matter how great its fundamental value or how secure its prospects. In the absence of a more thorough analysis, it's reasonable to suspect that investments in a market that has been rising for a long time are overpriced. In itself that guideline isn't a signal to sell, it is a signal to make a closer examination.
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