Is over pricing ever a good idea?
Here is a great post that ask a great question. When is a home over priced? I do a 3 prone CMA for my sellers in Pensacola, Pace and Gulf Breeze, tax roll analysis, Square footage Analysis and a Like Kind home analysis, without exception your home will sell within those three analogies. Without going into great detail I would stack my program against any appraisal and I won't even ask the price of the offer (like an appraiser does) when I do one. Sorry for sounding cocky but price is 51% of getting your home sold and don't fool yourself or be fooled by anything else. Call me if you are thinking of selling your Pensacola, Pace or Gulf Breeze home. I will do an analogy for free and you will see and believe the difference.
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Courtesy of Charles Stallions, Pensacola Homes for sale – Pensacola Short Sale and Investment Expert
1-800-309-3414
I have a meeting this afternoon to speak with my next door neighbor about selling their home. They have decided that they want to be closer in town and have decided to make the move. They are feeling a bit pushed because they have found a neighborhood they like and the homes there are selling fast. I spoke to them the other day and told them I had good news, and we discussed briefly the price range they could expect their home to sell in.
Well, they want to sell for more. Who doesn't? They want to price their home about 9% higher than my estimate. I think I will go along with them as prices in the area are starting to rise. What baffles me a bit, is that I have never priced homes in a rising market! In 7 years in the business I have only known falling prices! I think from now on I will add about 5% to my CMA estimates and start there. We have an agent who handles many of the sales in a subdivision nearby and she is raising prices about $5,000 after each home is sold. Is this what "Good times" looks like?
I know over pricing is always a bad idea, but in a rising market, I think pricing just a bit in front of the market might not be so bad. Your thoughts?
I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.
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