Market Conditions Rule-Supply and Demand

Supply and demand influences the price at which your home will sell.

Proper Pricing To Stand Out in the Market

Pricing your home so that it stands out from other comparable properties is crucial, especially in today’s market. When pricing your home you must take into consideration current market conditions as well as location, upgrades and amenities, number of bedroom and baths and comparable home sales in the area. No seller wants their home sitting on the market and getting stale. So keep in mind that no matter what the market conditions are, if your home is priced right, it will sell. Your home should sell in 44 days or less.

AVOID OVER PRICING PITFALLS

Many sellers make the mistake of overpricing their home. Avoid this pitfall from the beginning. However, if you choose to price the home high and it does not sell, then you will have to keep reducing the price until your home does sells. Ask your Realtor for a weekly update of comparable home sales in the area. Buyers avoid making offers on overpriced priced homes because they don’t want to do business with unrealistic sellers. It is wiser to price your home correctly in the beginning.

Tips to Selecting the Right Price.

1. Price at or below market.

2. If you decide you want to price the house around $500,000, then list it for $499,900 instead of $500,000.

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