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Saturday, August 24, 2013

Pricing your home to sell in a rising market...

I had someone tell me recently they had to list their home way above the market because prices were rising.  

I understood the intent but not the strategy.

Pricing a home at the higher end of the competition in a rising market is a reasonable strategy.   However, pricing way above the market means a seller should expect to sit and wait for the market to catch up.

Pricing way above the market may result in prospective buyers are buying the competition.   In the interim the interest rates could go up meaning the replacement home costs may be higher as well.

Anyway, back to the pricing issue.

While it is possible to sell too low I do not believe one can price too low.   The reason, of course, is a home owner does not have to accept any offer.

Pricing your home to sell in any market is a personal decision that should based on objectives, time line, and the circumstances of the sale (quick sale, retirement, illness, short sale).

Your Realtor® can advise but only you can set the price - list and sell.  



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