The Price Paid for Overpricing your Home
Northridge Real Estate and Homes for Sale in Los Angeles County
Brought to you by your Relocation Specialists Jana Davis and Marcia Demerjian
Visit our website: www.jmteam.com
Many times sellers will contract with the agent that tells them their property is worth more then it really is. If you are interviewing Real Estate Agents and they are coming in with a price lower than you thought, then wa la here comes someone that tells you it is worth a whole lot more, step back a second. Why are the other agents telling you something different? Is this one agent just so much better than the others or is this agent just telling you what they think you want to hear to get your listing?
We have also had clients who want to "test the waters". We show them the properties that have recently sold that compare to theirs and they want to "try" a higher price just to see if they can get it. After all the house down the street sold for this higher price last year.
Trust your professional. They are in and out of homes everyday. They have their fingers on the pulse of today's market, not last years. They have your best interest at heart. In today's market is it more important then ever to price your home correctly!
Here are six reasons you can not afford to overprice your property!
1. IT TAKES LONGER TO SELL!
Time is the enemy to sellers. A buyer's first question when interested in a home is "how long has this property been on the market." If it has been on for any length of time the next question will be "what's wrong with it?"
2. YOU WILL HAVE LESS ACTIVITY!
A home generates the most activity within the real estate community when it first goes on the market. The number of showings are greatest in the first two weeks, but only if it is priced at real market value!
3. YOU WILL MISS THE PEAK PERIOD TO SELL!
Starting too high and dropping the price later misses the period of the greatest excitement from being new to the market.
4. OVERPRICING NOW RESULTS IN UNDERPRICING LATER!
Are you chasing the market drop? A little to little, a little too late? You have missed the peak period you will now have to drop the price below market value just to compete with the new, well priced listings.
5. BUYERS WRITE OFFERS ON THE BEST PRICED HOMES!
If you price your home too high, you will feel the frustration that comes from having the home on the market for extended periods of time without any realistic offers.
6. YOUR HOME WILL HELP SELL OTHER HOMES!
If your home is overpriced, it becomes a comparison to comparable homes in your neighborhood - making them look like a better deal!
Overpriced homes end up selling for below market prices, months later. Mean while you are paying your mortgage, taxes, insurance, utilities, etc. You are keeping your home in model home condition. Your personal life is now centered around showings and Open Houses. You don't dare go on vacation or have company stay with you. Is all this worth "testing the market?" PRICE YOUR HOME RIGHT AT THE BEGINNING, get it sold sooner than later!