La Jolla · Seller guides · Process

How I price a one-of-a-kind coastal home

Short answer: When there's no twin down the street, pricing is part math and part judgment. I start with recent sales of similar homes. Then I adjust for what makes yours different and look at what buyers can choose from today. After that, we pick a price plan together.

Pricing a coastal home can feel like guesswork. A view, a bluff lot or a home with a long history may not have a close match nearby. That doesn’t mean we’re guessing. It means we have to show our work. Here’s how I do it, in plain words.

I’m Weston Clark, Founding Member of the Dickinson-Clark Team at Compass. I help sellers in La Jolla and coastal San Diego set a price they understand, with the reasons written down. You can talk about fees with Weston directly. This form does not give a commission quote.

Talk to Weston Jump to FAQ What is my home worth?

Related: Home value · Cost to sell · Bluff homes · Historic review · Guides · La Jolla · Home not selling · Selling off-market · Selling to a builder · Listing expired · Home marketing plan

Why coastal homes are hard to price

Most homes get priced by looking at similar homes that sold nearby. On the coast, “similar” can be hard to find. Two homes on the same street can feel worlds apart.

Here’s what can make a home one of a kind:

• A view that the house next door doesn’t have
• A lot on or near a bluff. My bluff homes guide covers the extra questions buyers ask.
• An older home that may get a City history review before some permits. See my historic review guide.
• A big remodel, or work done without permits. My unpermitted work guide explains that one.
• A lot size, shape or slope that’s unusual for the area

Recent sales I use, and the ones I set aside

Comps (short for comparables) are recent sales of similar homes nearby. They’re the base of most pricing. California’s real estate reference book describes the sales comparison approach this way: “Recent sales and listings of similar type properties in the area are analyzed to form an opinion of value.”

I look at three groups. Sold homes show what buyers actually paid. Homes in contract show where buyers are saying yes now. Active listings show what buyers can pick from today.

I also set some sales aside. A sale between relatives, a home in very different shape, or a sale from long ago may not tell us much. The same book puts it plainly: “Dated sales become less reliable in a changing market.”

Adjusting for what makes your home different

Once I have comps, I adjust for the differences. Is the view wider or narrower? Is the lot bigger? Is the home newer, or in better shape? Each difference moves the number up or down.

There’s a limit, though. The more I have to adjust, the less a comp can tell us. The reference book says: “The greater the amount of adjustment or number of adjustments, the less reliable the comparable becomes.”

That’s why, for a truly unusual home, I’ll often show you a range, not a single number. I’ll also show you which comps I trusted most, and why.

Appraisals and online estimates

An appraisal is a licensed appraiser’s opinion of value. It’s usually ordered by the buyer’s lender. In California, appraisers are licensed by the Bureau of Real Estate Appraisers. If the appraisal comes in lower than the price, the buyer and seller may need to talk. My offer strategy guide covers how offers handle that.

Online estimates are a quick starting point. They can miss a view, a remodel or a tricky lot. My home value page is a good first step. A walk-through and a written review are the next step.

Three ways to set the number

• Price at value. Set the price where the comps and adjustments point. It’s clear and easy for buyers to understand.
• Price a bit under. Aim to draw more buyers early. It can lead to more than one offer, but it’s not a promise. My multiple offers guide explains how that works.
• Price above, with room. Leave space to negotiate. The risk is that buyers skip the home, and it sits.

There’s no one right answer for every home. I’ll walk you through the trade-offs, and you choose.

What I bring you before we pick a number

• A written list of the comps I used, and the ones I set aside, with reasons
• The adjustments I made for view, lot, condition and permits
• What buyers can choose from right now
• A seller net sheet, which is an estimate of what you’d take home at a few prices
• A look at the costs of selling, so nothing surprises you

I’m not an appraiser, and this isn’t an appraisal. It’s a pricing plan you can read and question. This guide is general information. It’s not legal or tax advice.

More on sandiego.homes

• Home value: a starting point for what your home is worth
• Seller net sheet: what you’d take home at a given price
• Cost to sell: the kinds of costs sellers pay
• Bluff homes: what buyers ask about bluff lots
• Historic review: the City’s review for older homes
• Staging: getting rooms ready for photos and showings
• Seller prep: a checklist for getting a home ready to list
• Guides · La Jolla

Talk with Weston about pricing your home

Tell me about your home and what makes it different. I’ll put together a written pricing review, with my reasons.

Or call (858) 997-8998 · weston@sandiego.homes · Search on Compass

Free seller tools: What is my home worth? · What would I take home? · Real estate words in plain English

Have another question? Quick answers to common questions

Sources

• CA DRE — Reference Book Ch. 15 Appraisal and Valuation
• California Bureau of Real Estate Appraisers
• CA DRE — Consumers
• HUD — Fair Housing Act overview