Selling Your Home? Price It Right

If you are thinking of putting your home on the market or have it on the market one of the biggest factors that can affect your home gettign sold is price. In this housing market pricing a home right may be more crucial than ever before. The buyer has so many choices and homes are not moving at the pace they once were a few years ago.

There are a couple of schools of thoughts on this. One says, that you have done certain updates and improvements for the home and feel you should recover some of that expense out of the house. The other is to say I need to sell sooner rather than later and want my home sold before the average for my neighborhood.

Both strategies can backfire on a seller. Yes, certain home improvements do add value to the home. But, if you do $10,000 in home repairs and upgrades you probably are not going to recover that money out of the house when you go and sell the house. If you insist on inflating your asking price for the home by X amount of dollars in the hope of getting it back you are probably going to drive buyers away from your home. They will notice you are over priced for the neighborhood and look right past your home.

On the other front, if you price it too low; you probably will get a lot of people to look at your home online and/or in person. But, there will be some question as to whay you have the home priced so low. If they know the reason why you are selling for less than the market value they will probably try to get you to go even lower than that. You probably will end up with offers signifcantly less than you want or can accept on the home.

The best strategy is to price your home competitively to the maket. When the home goes on the market you need to know what the local homes in the neighborhood have sold for recently that are comparable and what the homes in the area are listed for. A happy balance between those numbers can help you achieve your ultimate goal....SOLD.

But, just because you have priced the home where it should be today; does not mean in a month or two or three the values have not changed. Ask your Realtor to update you on a monthly basis on what is on the market and what is sold and adjust your price accordingly if need be. I see to many homes that have been on the market for four to six months and the sellers are asking the Realtor why has the showings decreased and why are we not getting any offers. Probably becuase there home is now over priced for the current market.......

Want to sell your home...Price It Right.

Dave diCecco
Realtor/Broker
www.davedicecco.com