The amount you have Invested
Most people feel that the logical approach is to take what they paid for the property and add to that the figure the total amount of improvements you have made.  Now that you know your total investment, you could add a figure to allow for inflation during the years you have owned the home and presto, you have an asking price.  Although desirable, this approach is not realistic and should not be used.
The Reproduction Cost
Sometimes, real estate is appraised by using the reproduction cost method.  This approach figures the amount of money that would be required to build the identical home at today’s new construction prices.  This is the correct method when estimating the amount of homeowners insurance you should carry, but not the best choice when deciding upon as asking price.
Comparable Sales and Current Listings
The source that is most reliable is the multiple listing information provided by a Realtor.  Nothing speaks louder about the value of your home than the actual prices sellers have been willing to pay for similar properties recently.  Another factor to consider is the asking price of homes that are for sale and competing for your buyer.If you price aggressively and ahead of the market you home will be the one chosen when buyers come knocking.
Dress For Success
Never forget the importance of staging your home! You want buyers to fall in love with your home before they ever open the front door. Stay tuned...more to come on this topic!