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Tuesday, February 21, 2012

Home Seller Tip - If You Price Your Home Higher than Similar Properties in Your Neighborhood Make Sure the Differences are Real (and marketed)

I read an article this morning that posed a simple question – “Should one expect two similar sized homes in the same neighborhood that are priced the same price be in the same condition?”

The logical answer should be yes but I have witnessed the opposite many times.

Another question to consider is “Should one expect two exact same sized and aged homes in the same neighborhood be priced somewhat similarly?” 

This afternoon while reviewing market activity in Rockledge, Florida's Ashwood Lakes development I noticed there were three homes for sale.  Two of these are short sales.  Each has 2,252 sq.ft. under air and a two car garage.  They are priced $65,000 apart ($224,900, $159,900).  Both were built in 2001. One has a pool.

Is there a $65,000 difference?  There could be I suppose.

By the way the other home for sale in Ashwood Lakes is a standard sale at $118,999.  Why don’t they just say $119,000?

An important reminder for sellers…If you are going to price your home significantly higher than similar properties in your neighborhood or area make sure the differences are really there and marketed.

Ready to sell your Viera or Rockledge, Florida home?  Call me at 321-693-3850 or email me for a free market analysis.

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