|Profit from Proper Pricing
Pricing your home is one of the most crucial decisions when putting your home on the market. The price is usually the first thing buyer’s notice about your property. If your home is not priced correctly, it could turn away potential buyer’s and could be stigmatized by sitting on the market too long. If you price your home at the true market value, you can save carrying costs, mortgage payments and other ownership costs.
Market Determines Value
The listing price of your home is based on careful analysis of the current market, comparable homes including the asking and selling price of sold properties as well as the current inventory of homes and the different features of the properties.
Is It Priced Right?
When a property is priced properly for its market, it will sell sooner and encourages prospects to act quicker. Most serious prospects are well educated about asking prices in the areas they are seeking. They will not waste their time on a home they consider overpriced. However, buyer’s fear they might lose out on a good home when it is priced right and they are less likely to make “low ball offers”. Better pricing can attract multiple offers!
Bottom line, if a home is priced right, the excitement of the market produces higher sales prices. You net more both in terms of actual sale price and less in carrying costs. Remember, be realistic in pricing your property and understand that your price should always reflect the current market situation!