Price Your Home Realistically

There are several very important reasons for you to price your home "in" the market instead of chasing the market on the "outside".


Time


More likely than not your home is going to sell for market value. Over-pricing your home can lead to more time spent on the market as well as more and more inconveniences. Pricing your home "in" the market increases the likelihood of selling in a timely fashion and increases the chances of a greater monetary return.

Competition

In today's real estate market buyers are becoming increasingly educated about what is going on in the market. These buyer's are also looking at many more homes and know what fair pricing is. In general buyers are looking at homes within a 10% price range. So if your home is not priced in the correct price range you could be missing out on a lot of buyers!

Reputation

Overpricing causes most homes to sit on the market too long. When this happens buyers notice these homes and become more hesitant to make an offer on the home for the fear "something must be wrong" with this house. Bad reputation may lead to more time on the market and in the end less the market value for the home.

Inconvenience

If your home sits on the market too long due to overpricing you will be faced with the inconvenience of keeping your home "showing ready". Another inconvenience that may result of overpricing and sitting on the market too long is you can end up owning two homes (the one you bought and the one you are trying to sell. This can truly prove to be costly.

In today's market there are two things (that you can control) that will decide if your home will sell or not and they are PRICE and CONDITION.

Today especially, if you aren't willing to list your home at or just below the current market value, you are better off not putting your home on the market at all.

Hope this helps!

Trish Franklin
http://www.trishfranklin.com/

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