PRICING YOUR HOME TO SELL
Pricing your home correctly
is important and challenging.
the value As a seller, it is challenging to be realistic
about your home's value because of the pride and emotional attachment you have
to the home. Many sellers think that your house is better than everyone else's,
and should be priced accordingly. Your asking price needs to be based upon an
objective assessment of what comparable homes sold for in your neighborhood.
Find out the value of your home by requesting a free
Making the decision You may think your home is better than your neighbor's
home that sold for $200,000 a few months ago because your home has a new
furnace, new roof, finished basement, and pool. But, if your neighbor's home had
a first floor family room and your home does not, your home will probably sell
In most neighborhoods, if your home has been on the market
for more than a month, then your home may be overpriced.
Mistakes to avoid Many people have misconceptions that hurt
their home's ability to sell. The most common misconception is that a seller
should start out with a high price, then reduce the price if no one puts in an
offer. This strategy is a mistake, because your home receives nearly all of its
attention in the first two weeks after it goes for sale. After that time period,
it is considered overpriced and buyers ask "why has it been on the market so
long--what is wrong with it?" Reducing the price often goes unnoticed by buyers
. As a result, the home sits
on the market for a longer time period, and the seller receives a lower price
than they could have had if they priced it appropriately in the beginning.
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