Is Your Home Price on Target?
Finding Your Home’s Best Selling Price
Statistics show that the best opportunity to sell your home is often within the first few weeks of putting it on the market. This can be good news, or bad, depending on your motivation. Some homes sell right away, while others sit on the market for months without a single offer.
To maximize your selling opportunity, it is important that your home be priced right. What is the right price? Several factors will determine your home’s best asking price.
The current real estate market has a lot to do with it. Additional factors such as location, recent sold data, current market trends, and your home’s special features that set it apart from the competition are all taken into consideration when pricing your home
“What’s wrong with pricing my home a little high?”
Price your home too high and most buyers won’t even bother looking at it. Over priced homes tend to sell the competition first. This scares away many qualified buyers simply because they can go elsewhere and get more house for the money. As the house sits on the market, people will shy away from it thinking there must be something wrong with the home.
"Should I under-price my home?"
Price it too low and you could lose thousands of dollars. There are times when you will attract multiple offers, but this is only recommended when you need a faster-than-average sale. In most circumstances, pricing your home correctly from the very beginning will net you the best results in both time and money.