Is My Home Priced to Sell?

Pricing your Home is both an art and a science. Achieving the optimal price is the result of both objective research into comparable properties and a gut feeling about your property and the current market. The right price should:

Attract buyers

Allow you to earn the most money possible

Help you sell as quickly as possible

The best advice in terms of pricing your Home is to trust your REALTOR®. They have both the expertise and the knowledge of the current market to come up with the fairest price for your Home.

The simple fact is, price is the number one factor that most homebuyers use to determine which homes that they want to view and by which to judge them. And it's important to remember that, although the price may be set by you and your Realtor; the value of your Home is determined by the buyer.
Try to avoid allowing your enthusiasm to impact your better judgment--overpricing is a common mistake that can cost YOU in the end.



Factors Affecting Your Asking Price

How quickly you need to sell

The amount of competition in your price category and area

The availability, flexibility and affordability of financing

The sale prices of similar homes sold in your area during the past six months to one year

Factors That Should Not Affect Your Asking Price

The original cost of the property--(price is determined by today's market)

Any investments you've made in improvements

The cost to build your home today

Emotional attachment

The opinions of friends, family or neighbors



Problems That Can Arise from Overpricing!

You might help sell similar home that are priced lower, leaving you with no buyers

Your home may stay on the market longer

You could lose market interest and qualified buyers

You might create a negative impression of the property

You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs

You may have to accept less money in order to sell the property

A potential buyer may face appraisal and financing problems as a result of the inflated price



Factors That Should Not Affect Your Asking Price

The original cost of the property--(price is determined by today's market)

Any investments you've made in improvements

The cost to build your home today

Emotional attachment

The opinions of friends, family or neighbors

Problems That Can Arise from Overpricing!

You might help sell similar home that are priced lower, leaving you with no buyers

Your home may stay on the market longer

You could lose market interest and qualified buyers

You might create a negative impression of the property

You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs

You may have to accept less money in order to sell the property

A potential buyer may face appraisal and financing problems as a result of the inflated price