Carefully evaluate the comps
Elizabeth Kee, a broker with CORE, says swallow hard, use comparable sales, and treat your apartment to a new coat of paint and, if necessary, some staging.
“Numbers never lie: If you’re looking at comparable apartments, just because you have done certain things to your home that you feel makes it look better, doesn’t mean you are necessarily going to get a higher price.
“Everyone thinks their apartment is going to be worth more, regardless of the condition of the apartment, so pick the price that everything else sold at. This can be hard for people to understand but you have to really put your best foot forward in a buyers market and a lot of owners are not really willing to reinvest in their space in order to do that and that’s where prices continue to fall. That little bit of investment; new paint, the right furnishing for the space—which may not be how you prefer to live while you are selling it—all this will garner the highest price and get [the apartment] to move.”
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