| Selling Your Home |
Precision Pricing
There are reasons that sellers may overprice their properties:
In the current market with selling prices continuing to fall, sellers need to determine
where the most advantageous listing price will be. They need to price a property so
it will attract the interest of serious buyers yet not price it where they will be losing
money they might have gained.
When a property is overpriced it :
Buyers need to feel that the price they are spending truly reflects the value of the property
they are buying. In that situation, everyone is a winner.
Currently sellers who have held their property for more than two years stand to gain an
attractive profit on the sale of their properties. No one would argue that the 2005 investor
buying frenzy is certainly over. Serious sellers need to put those inflated selling prices out of
their minds and concentrate on marketing their homes to the current buyer who is wary of the
plummeting prices.
Right now no one can determine when the downward trend will end, when prices will finally
stabilize, and when the selling profit margins will begin to go up. Does it not make sense that
the buyer must feel that the he is paying for the true current value of the home?
Precision pricing is the answer. How much could the property sell for at this time? What is
the fair market value? Selling a property now depends on determining that magic price range
to attract the serious buyer and reach a fair selling price.
There are reasons that sellers may overprice their properties:
- They may have put more money into it than they can recoup
- They may need the money for other debts
- They may feel they need more negotiating room
- They may be just “testing the market”
- It is likely to take longer to sell
- It will be ignored in favor of newer listings
- And most likely sell for less than it could have earlier
In the current market with selling prices continuing to fall, sellers need to determine
where the most advantageous listing price will be. They need to price a property so
it will attract the interest of serious buyers yet not price it where they will be losing
money they might have gained.
When a property is overpriced it :
- Reduces showing activity
- Reduces advertising response
- Loses serious buyers
- Attracts the wrong price range buyers
- Discourages offers
- Fails to appraise
- Helps sell the competition
Buyers need to feel that the price they are spending truly reflects the value of the property
they are buying. In that situation, everyone is a winner.
Currently sellers who have held their property for more than two years stand to gain an
attractive profit on the sale of their properties. No one would argue that the 2005 investor
buying frenzy is certainly over. Serious sellers need to put those inflated selling prices out of
their minds and concentrate on marketing their homes to the current buyer who is wary of the
plummeting prices.
Right now no one can determine when the downward trend will end, when prices will finally
stabilize, and when the selling profit margins will begin to go up. Does it not make sense that
the buyer must feel that the he is paying for the true current value of the home?
Precision pricing is the answer. How much could the property sell for at this time? What is
the fair market value? Selling a property now depends on determining that magic price range
to attract the serious buyer and reach a fair selling price.
| Eleanor Valliere, GRI Sand Castle Realty Group, Inc. 2220 Venetian Court Naples, FL 34109 Office: 239-594-2170 Direct: 239-671-1021 |
Your Breckenridge Real Estate Resource
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