Want To Sell Your House? Price It Right.
The housing market slowed last year as a result of higher mortgage rates, which had an impact on home prices. If you're planning to sell your home soon, you should adjust your expectations accordingly. According to realtor.com:
“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”
In a more moderate market, how you price your home will have a significant impact not only on your bottom line but also on how quickly your home will sell. And, in today's market, homes priced correctly are still selling.
Why Is Appropriate House Pricing Important?
Your asking price, especially in this day and age, sends a message to potential buyers.
If you price it too low, you risk losing money or discouraging buyers who may see a lower-than-expected price tag and wonder if something is wrong with the house.
You run the risk of discouraging buyers if you price it too high. When this happens, you may need to lower the price to rekindle interest in your home after it has been on the market for a while. However, some buyers may interpret a price drop as a red flag and wonder what it means about the home.
To avoid either headache, price it correctly from the beginning. A real estate professional understands how to arrive at the ideal asking price. To determine the right price, they consider the value of homes in your neighborhood, current market trends, buyer demand, the condition of your home, and other factors. This results in stronger offers and a higher likelihood that your house will sell.
The diagram below illustrates the impact your asking price can have:
Homes priced at the current market value are still selling. Contact a trusted real estate professional to ensure you price your home correctly, maximize your sales potential, and minimize your hassle.
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