One of the most vital decisions you’ll make when selling your house is how much to ask for it. First off, you don’t want to set the asking price too high. Sure, there are exceptions to this rule, as the following post clearly reveals:
Kitsilano home sells for $735,000 over asking price, sets new record
Kitsilano real estate records were broken on Tuesday after a home sold for $735,000 over the asking price of $3.5 million.
The house at 3555 West 1st Avenue was built in 1912, is 3,400 square feet and sits on a standard 33 x 120 foot lot without a view. The selling price of $4.23 million is about $1.6 million above the lot’s assessed property value.
A standard lot selling that far over its asking price is a new record for the area, according to Brandan Price, the real estate agent who sold the house.
“For it to go over $4 million is remarkable. I had five offers,” Price tells Vancity Buzz. “These were local buyers just looking to make a shift who wanted to move into this area.” Read full post at VanCity Buzz…
By and large, however, over-pricing is a bad idea. It may seem logical to overprice and then go lower later on, but this strategy seldom works. In fact, pricing your home just 10 percent over the market value could cause you to sell for even less than you would have if you priced it realistically.
This is because buyers can usually tell when a house is overpriced, and rather than stick around and negotiate, they go looking elsewhere. What you’re really doing then is discouraging would-be buyers who are qualified and motivated, and you end up with few, if any, serious offers.
On the other hand, you don’t want to set it too low, because although you may draw a lot of attention, you will likely end up selling for less than the market value. It’s important to price your home just right, and this is possible with the right knowledge and if you’re willing to do your homework.
Here are some very helpful tips to get you started:
7 Awesome Tips To Accurately Price Your Home
There are so many ways that you can get the pricing wrong when you are getting ready to list you home. Here are some tips that will help you to accurately price your home the first time so you can sell quickly. Many sellers have already made up their mind on what they want for their house long before they ever decide to list it because they have checked Zillow, gotten an appraisal, or think they have a handle on the market. The problem is that only a small percentage of those sellers will be able to successfully sell their home at that price. Real estate when priced incorrectly will sit on the market until a price reduction is made however, once a house sits on the market buyers already believe that there is something wrong with it. Read full post at Russian River…
In some cases, however, it becomes necessary to lower your asking price, even when you had set it realistically to begin with. This largely has to do with the prevailing market trends.
The following video post reveals the three major indicators that it’s time to lower your asking price:
3 Telltale Signs You Should Lower Your Asking Price
When exactly should you cry “uncle” and lower the list price of your home to attract more buyers? Keep an eye out for these three situations. Watch Video at Realtor.com…
With the above tips, you should be well on your way to selling your home and making the most of it.
However, you may own an Atlanta house that is run down and unlikely to attract buyers. A lot of buyers simply can’t afford to pay for repairs and other home-selling expenses. If you are in such a dilemma, you still have the option of selling your house to an investor for cash.
A cash sale means you won’t need to worry about repairs, upgrades or even agent fees and commissions. At Mason Buys Houses, we offer homeowners fair rates for their homes – in cash. Contact us today for more information.
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by esther via Mason Buys Houses