Hello Hive Mind,
I am just getting into the world of real estate and have just one deal under my belt as my Mother prepares to sell the family home.
The house my Mom is selling (95% Paid Off) is going to go on the market October 1st.
However, something that she and her agent have discusses at length is what to list it at because no true comps exist in the zip code. My mom is the original owner and the house is just under 30 years old, it's a corner lot at the end of a cul-de-sac but since it is a corner lot the backyard is twice the size of most other backyards in the neighborhood. Because of all this space my parents built an extra fully permitted 2 car garage in the backyard bring the total garage space up to 5 cars.
How do you go about pricing things with no true comps? Obviously a 30 year old house has some drawbacks and theres plenty of new construction in the area but nothing with a similar yard or garage space.
I personally don't have enough experience to help but I am worried that it will either go on the market too high and get stale or... will sell a little too quickly.
I wanted to ask this question of the BP community because I see it as another thing I can learn about!