Choosing the right price for your home is one of the most important aspects of selling your home. If your price is above market value, you run the risk of it sitting on the market too long.
An overpriced property:
- Minimizes the number of offers
- Limits qualified buyers
- Reduces the number of showings
- Lowers prospects
- Limits financing
- Will attract buyers in a higher price range that have high expectations
Most buyers today are educated about the home buying process and have done their homework before purchasing a home. They will know if your home is overpriced.
In choosing the right price for your home, the market is the most accurate indicator. The condition of the current market, the number of buyers, and current competition will dictate your home’s value. If your home does not meet the competition price, it simply will not sell.
Keep in mind that the value of your property is not dictated by what you’ve invested in the property, what you paid for the property, or by the amount you feel you need to receive from the property.
Choosing the right price for your home will increase advertising response, stimulate buyer interest, compensate for property shortfalls, and provide you with a negotiating advantage.
Feel free to contact me if you are interested in selling your home and finding the right price to get it sold in today's market.
Troy Batson is a licensed broker in the State of Oregon ~ troybatson.com ~ Duke Warner Realty ~ 1033 NW Newport Ave. Bend, OR 97701 ~ (541)382-8262
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