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Tuesday, June 02, 2015

Is it wise to list your home for a higher price than current market?

There was a time not too long ago when I avoided listings where the seller wanted to over price their home.  But the times have changed somewhat.

First of all - pricing is not an exact science

It is a skill that relies on experience, market knowledge, and experience.  In a market like the Brevard County, Florida residential market with slowly rising prices an optimistically priced home is not a totally bad thing - within reason.

One key consideration when pricing a property is to ensure the price reflects its condition, location, competition and market trends.

In the current Brevard County, Florida residential market that trend is upward - steadily but not meteorically.

But there is always potential danger to pricing a home at the high end of its market.

The longer a property is on the market the more prospective buyers will question "Whats wrong with that house?"

And if an offer does come in what about the appraisal?

If a buyer is obtaining a mortgage it does not matter what the agreed upon contract price if they can't come up with the cash needed or get an approval.  And if the buyer is a cash buyer they will likely want an appraisal done as well.

So is it wise to price your price a bit higher than the current market?

Possibly.

It depends.

Everything will depend on your goals, competition and timeline.

That is why it is critical you hire a local knowledgeable real estate agent when you are ready to sell your Brevard County, Florida home.

Considering selling your Viera home?  Ask for a market analysis today (321-693-3850, EMAIL).

Waters Realty of Brevard - a small company delivering big results!



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