Homes can be expensive and often a lot of work, making it seem like your home is valued at much more than it is. But the truth is, your home is only worth what the market is willing to pay. Pricing your home too high will discourage interested parties from making an offer and cause your property to sit for months, which is never the goal.
Unfortunately, it often doesn’t matter what’s included in our offering – or what your mortgage is. The number of days a property has been on the market is the major determinate of a correctly priced home. If you haven’t received an offer in a 30-day period, the price is too high. The longer a house is on the market, the less valuable it appears to buyers.
Appreciation and depreciation can be difficult to calculate without a firm grasp on your local market. As someone who looks at multiple houses every day or week, a professional real estate agent will know what the market is willing to pay and should be able to guide you with your pricing. There are certain things that homeowners can do to influence buyers’ perceptions of their home’s value and increase the price buyers are willing to pay for it. Ultimately, it’s in the best interest of everyone involved to make a timely sale.
Overpricing your house in the beginning can make the selling process much more difficult. The first days of listing your home should garner the most interest and overpricing will cause you to miss that window. If you’re interested in talking to a local real estate agent about what an appropriate listing price would be, let us know. We’re here to help.