When a sign goes up in a yard in my neighborhood I have a professional interest in what happens.  What I've been watching lately is distressing;  a home that won't sell. 

There are really only two reasons a house won't sell;  it's priced too high or it is in poor condition. You could argue that cause #2 is also a result of cause #1.  And that might be true. But how do we come up with our home's listing price?

Realtors (and appraisers for that matter) use comparables from the area to determine what the market is currently willing to pay for like property.  What the property is actually worth doesn't always translate into market value.  Sometime the market will pay more, sometimes less, depending on home availability (inventory levels).   

When presented with a marketing strategy, examine the comps.  If the homes are similar, you can be pretty secure in pricing your home similarly, taking into account the  square footage differences.

The market can be unforgiving when you are priced too high.  Don't compound the problem by switching Realtors instead of just lowering the price, unless there isn't a comprehensive marketing strategy in place.  A good marketing strategy includes newspaper ads, real estate magazine ads, prominence on the web, flyers in the flyer box, etc.  If your Realtor has those strategies covered and your home isn't getting showings, take another look at the price and/or condition of your home. 

If you are thinking of selling your home, call me.  I can tell you what it will likely bring on the market and save you some of the pain some home sellers go through.  But you will always decide the listing price!

Remember a home's worth and market value aren't always the same.  In a cool market you may have to "market" a home for less than you might think it's worth. 

Talk to Top!   www.TALKtoTOP.com