03/03/2018
THINKING OF SELLING YOUR HOME FOR-SALE-BY-OWNER?
3 Absolutes for Pricing a Home to Sell Fast at Your Price.
1. Homes priced correctly for their neighborhood will sell faster and at asking price…OR HIGHER! Serious buyers are
very aware of the true market value of homes in your neighborhood. It is natural for sellers to think their home is special and will sell for more than the market. This almost always delays the sale of the home until the price is reduced to market value. Even though the average sale price of homes may be going up, each week your home is on the market its perceived value is declining in the eyes of buyers.
2. Homes priced above the neighborhood market value eliminates many potential buyers. If the market value of your home is $279,000 and you place it on the market at $300,000 the home will not be seen on the Internet by buyers searching between $200,000 and $299,000. It may also cause problems with the buyer’s ability to obtain financing for the purchase. A home that goes under contract for more than the current market value will often have appraisal problems.
3. Homes priced at, or slightly below, their true market
value will often receive multiple offers. The resulting competition between multiple buyers “bids" price up and the home ultimately sells for more than your asking price. A multiple offer situation is desired because it almost always results in the home selling for more, takes pressure off the home inspection and reduces the likelihood the buyer will negotiate for repairs.
