Answer: Here is the most important thing to remember. If you overprice
your home, it will take longer to sell and sell for less money. Buyers
are very savvy these days. They know when a house is over-priced and
won't bother with a home that isn't priced to the market.
And yet, many sellers overprice their homes anyway, hoping their home will be the one to defy market physics. Why do they do it? Lots of reasons:
They feel entitled to make a profit. They feel their home is superior to other similar homes. They want a return on improvements and repairs. They want to buy a bigger, more expensive home. They want to pay for college, retirement or some other financial goal. They think buyers want to negotiate. They think real estate agents can get it sold for more if they just work harder.
Unfortunately none of these reasons has anything to do with the current market value of the home?
Most sellers want to live in the home for a number of years, and then
sell it for more than they paid for it. That's understandable. Homes
historically beat inflation by one or two points, but the market doesn't
always cooperate. Things change. Buyers may not like the improvements
you made to your home. The neighborhood may have changed. The economic
times may have changed as we've seen in recent years.
overprice your home it will stagnate on the market. Setting a high price
with wiggle room to reduce the price later is not a successful
strategy. You might get some showings, but you won't get offers. Your
home could sit for months without an offer. And, once you do reduce the
price, buyers tend to think there's something wrong with the house,
sending potential offers even lower.
There's a lot more to it
and I'd be more than happy to discuss this further with you and answer
any questions you may have. Just give me a call.
Author:Lesley Vitel Phone: 904-534-8052 Dated: December 3rd 2014 Views: 309 About Lesley: Lesley's career in real estate officially began in 2005 when she partnered with her mother Lynn (A v...
Lesley Vitel has been serving the needs of both home buyers and sellers in Florida for well over a decade. During this time, she has acquired the crucial skills necessary to guide anyone through the process of finding the home of their dreams or getting out of one that is no longer meeting their needs.
This tech "savvyness" is just a sample of the knowledge and assistance they are capable of providing you as a client.
Lesley is very familiar with the area. She is able to take into consideration the neighborhoods, schools, crime rates and local market conditions during the process of finding the right home for you. All too often, people move into a beautiful home that is in the wrong location, and Lesley will use her skills and experience to make sure that does not happen to you.
This professional understands the value of consistent communication. Many real estate agencies fail to return important phone calls or give valuable that clients need to know. Lesley understands that you have expectations and are embarking on a life changing journey, and she strives to make herself and her staff readily available to answer questions and keep you properly updated throughout the entire process.
Online marketing is crucial in the age we live in, and most home buyers search online first for the home of their dreams. Buyers and sellers alike will be pleased with the capabilities Lesley Vitel makes available online.
If you are in the market for anything from traditional condos and single family home sales to short-sales, foreclosures and auctions, then you have found the right place to take care of your needs. Lesley and the rest of her staff are continually sharpening their real estate skills and would be pleased to share their knowledge with you.
Since a bomb was dropped on the real estate world 3 weeks ago, we have
"Lynn and Lesley are the team you want. Their professionalism and expertise are second to none. Ok so now that I have said what every testimonial says, here is the more heartfelt version. They are amazing. This is a difficult market that changes from month to month if not more often. In the last year, the rules and complexities of buying and selling have changed repeatedly. This is not the market of your mother and father. Fannie Mae/Freddie Mack REO’s and short sales now dominate the market. It is no easy task to keep up. Who own the house in the case of a short sale? Do you know how long a short sale takes? Do you know if you need a refrigerator to close an FHA loan? You would be foolish to attempt to buy a short sale or foreclosure property without Lynn and Lesley’s knowledge of the market. And by the way, buying new construction is no less complicated. As with so many things in life, being a good agent is an art form. Some people ‘get it’ and others don’t. Buyer’s remorse is the last thing you want. They will listen to you even when you don’t know what you are saying. Their ability to get the job is unparalleled. So what are you waiting for, your new home isn’t. Call them!"