We all feel our house are the best on the market and have a monetary value fixed to it. It’s human nature. The reality is the monetary value you have arrived at may not be the one the buyers in the market today are willing to pay.
So the question to you is “Are you willing to price your house to sell…OR are you willing to stay in your house?”.
Listing price does not = value
When the house down the street is listed at a higher price than you would have thought…don’t get too excited to list yours at the same or close to. The house may be way overpriced and creating buyers to overlook your house completely.
Pricing competitively = more potential buyers
Many sellers feel they are not loosing anything by setting the price high as they can always go down. When in reality the first four (4) weeks your house is on the market is the most critical time period. Even if you price your house 10% over the market value the property will appeal to only 30% of the market. Is 30% good enough for you?
When a buyer sees the house has been on the market for several months the first question they ask is…”What’s wrong with it?”. Why would you even want a buyer to have that question in their mind?
An important fact to remember is mortgages are based on fair market value. The house has to appraise for the sale price; otherwise you’re back to square one in the negotiating process or putting the house back on the market, if the buyer is not willing to pay the difference out of pocket. Would you pay more for a house that does not appraise?
Hit the market as a “hot” property. Priced right more buyers will be interested which will lead to a quicker sale.
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