Your goal is to aim directly for the center – not too high, not too low, but right at market value. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the house.” But price your house too low and you could end up leaving some serious money on the table. If your home is overpriced, you run the risk of buyers not seeing the listing. “ Your house’s market debut is your first chance to attract a buyer and it’s important to get the pricing right. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home.Ī recent article from NerdWallet sums it up like this: When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. On the other hand, price it too high and you run the risk of deterring buyers from ever touring it in the first place. Not to mention, if you undervalue your house, you could leave money on the table, which decreases your future buying power. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with it. The price you set for your house sends a message to potential buyers. Here’s what’s at stake if that price isn’t accurate for today’s market value. Only an agent has the expertise needed to find the right asking price for your house. To set yourself up to see advantages like these, you need to rely on an agent. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June. That’s because the number of homes for sale is still so low. While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now.
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