How to tell if your home is overpriced - the creepy crawly test.
This falls under the category of LIFE'S TOUGH LESSONS!
One of the most difficult realities home sellers struggle with is accepting the CURRENT MARKET VALUE of the property they want to sell. HINT: It is lower than you think; it is lower than it was 6 months ago; AND IF NOT PRICED TO SELL NOW (ie. "market value") it may be even lower next week.
Waiting to lower your asking price is a sure-fire way of netting LESS than if you price it right in the beginning. If you didn't price TO SELL in the beginning then...
It is time for a NEW BEGINNING. Price it where buyers will look at it and make an offer on it...
or plan to keep it for a long, long time while waiting for the economy to turn around.
Our thanks to Brian Brumpton, Boise Idaho Real Estate, for allowing us to re-blog this clever lesson in reality.
How do you know when your home is overpriced?
Well you could have your agent pull comps and if they're half way competent you could take their word for it.
Or you could wait until the lock box on your front door sits long enough for all the creepy crawly things to feel safe enough to make it their home.
Bottom line if the spider living in your lock box is netting more visitors than you are chances are you're priced out of the market.
Statistically they say it takes two to three times longer to sell a home through price reductions than it does to price it right up front.
If your home is priced right for it's condition, for it's competition, and for the market, your agent shouldn't have to proceed with caution when removing the lock box from your door.
You can save yourself time and net a bigger return doing the research upfront and gettig the equation right from the start.
As for me I don't like spiders so if I show up at your door and your lock box looks like this, I'm going to leave it and it's inhabitants for the next agent.
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