How to tell if your home is overpriced - the creepy crawly test.
Here is a great illustration of why it is SO important to get you home priced correctly at the beginning. This post was originally blogged by Brian Brumpton in the Boise, Idaho area.
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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